The jackpot for the MEGA Millions draw on Tue Feb 25, 2025, is projected to be $181 Million, with an option for a cash payout of $82.7 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana MEGA Millions Jackpot/Cash Option for Tue Feb 25, 2025 |
|---|
| Draw Date | Tue Feb 25, 2025 | | Projected Jackpot | $181,000,000 | | Cash Value | $82,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $82,700,000 | | Federal Tax(24%) | $19,848,000 | | Additional Federal Tax | $10,711,330 | | State Tax(3.15%) | $2,605,050 | | Net Lumpsum Payment | $49,535,620 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,724,231 |
$968,296
$85,813 |
$1,670,122 |
| 2 |
$2,860,524 |
$1,018,724
$90,107 |
$1,751,693 |
| 3 |
$3,003,514 |
$1,071,631
$94,611 |
$1,837,272 |
| 4 |
$3,153,744 |
$1,127,216
$99,343 |
$1,927,185 |
| 5 |
$3,311,395 |
$1,185,547
$104,309 |
$2,021,539 |
| 6 |
$3,477,010 |
$1,246,824
$109,526 |
$2,120,660 |
| 7 |
$3,650,770 |
$1,311,115
$114,999 |
$2,224,656 |
| 8 |
$3,833,399 |
$1,378,688
$120,752 |
$2,333,959 |
| 9 |
$4,025,078 |
$1,449,609
$126,790 |
$2,448,679 |
| 10 |
$4,226,350 |
$1,524,080
$133,130 |
$2,569,140 |
| 11 |
$4,437,577 |
$1,602,234
$139,784 |
$2,695,559 |
| 12 |
$4,659,483 |
$1,684,339
$146,774 |
$2,828,370 |
| 13 |
$4,892,430 |
$1,770,529
$154,112 |
$2,967,789 |
| 14 |
$5,137,142 |
$1,861,073
$161,820 |
$3,114,249 |
| 15 |
$5,393,981 |
$1,956,103
$169,910 |
$3,267,968 |
| 16 |
$5,663,671 |
$2,055,889
$178,406 |
$3,429,376 |
| 17 |
$5,946,755 |
$2,160,630
$187,323 |
$3,598,802 |
| 18 |
$6,244,138 |
$2,270,661
$196,690 |
$3,776,787 |
| 19 |
$6,556,363 |
$2,386,185
$206,525 |
$3,963,653 |
| 20 |
$6,884,154 |
$2,507,467
$216,851 |
$4,159,836 |
| 21 |
$7,228,416 |
$2,634,844
$227,695 |
$4,365,877 |
| 22 |
$7,589,873 |
$2,768,583
$239,081 |
$4,582,209 |
| 23 |
$7,969,249 |
$2,908,953
$251,031 |
$4,809,265 |
| 24 |
$8,367,811 |
$3,056,420
$263,586 |
$5,047,805 |
| 25 |
$8,786,102 |
$3,211,188
$276,762 |
$5,298,152 |
| 26 |
$9,225,570 |
$3,373,791
$290,605 |
$5,561,174 |
| 27 |
$9,686,758 |
$3,544,431
$305,133 |
$5,837,194 |
| 28 |
$10,171,114 |
$3,723,643
$320,390 |
$6,127,081 |
| 29 |
$10,679,724 |
$3,911,828
$336,411 |
$6,431,485 |
| 30 |
$11,213,674 |
$4,109,390
$353,231 |
$6,751,053 |
|
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