The jackpot for the MEGA Millions draw on Tue Jul 1, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Jul 1, 2025 |
|---|
| Draw Date | Tue Jul 1, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(3.15%) | $705,600 | | Net Lumpsum Payment | $13,446,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$23,705 |
$490,071 |
| 2 |
$790,200 |
$252,704
$24,891 |
$512,605 |
| 3 |
$829,700 |
$267,319
$26,136 |
$536,245 |
| 4 |
$871,200 |
$282,674
$27,443 |
$561,083 |
| 5 |
$914,750 |
$298,788
$28,815 |
$587,147 |
| 6 |
$960,500 |
$315,715
$30,256 |
$614,529 |
| 7 |
$1,008,500 |
$333,475
$31,768 |
$643,257 |
| 8 |
$1,058,950 |
$352,142
$33,357 |
$673,451 |
| 9 |
$1,111,900 |
$371,733
$35,025 |
$705,142 |
| 10 |
$1,167,500 |
$392,305
$36,776 |
$738,419 |
| 11 |
$1,225,850 |
$413,895
$38,614 |
$773,341 |
| 12 |
$1,287,150 |
$436,576
$40,545 |
$810,029 |
| 13 |
$1,351,500 |
$460,385
$42,572 |
$848,543 |
| 14 |
$1,419,100 |
$485,397
$44,702 |
$889,001 |
| 15 |
$1,490,050 |
$511,649
$46,937 |
$931,464 |
| 16 |
$1,564,550 |
$539,214
$49,283 |
$976,053 |
| 17 |
$1,642,750 |
$568,148
$51,747 |
$1,022,855 |
| 18 |
$1,724,900 |
$598,543
$54,334 |
$1,072,023 |
| 19 |
$1,811,150 |
$630,456
$57,051 |
$1,123,643 |
| 20 |
$1,901,700 |
$663,959
$59,904 |
$1,177,837 |
| 21 |
$1,996,800 |
$699,146
$62,899 |
$1,234,755 |
| 22 |
$2,096,650 |
$736,091
$66,044 |
$1,294,515 |
| 23 |
$2,201,450 |
$774,867
$69,346 |
$1,357,237 |
| 24 |
$2,311,550 |
$815,604
$72,814 |
$1,423,132 |
| 25 |
$2,427,100 |
$858,357
$76,454 |
$1,492,289 |
| 26 |
$2,548,500 |
$903,275
$80,278 |
$1,564,947 |
| 27 |
$2,675,900 |
$950,413
$84,291 |
$1,641,196 |
| 28 |
$2,809,700 |
$999,919
$88,506 |
$1,721,275 |
| 29 |
$2,950,200 |
$1,051,904
$92,931 |
$1,805,365 |
| 30 |
$3,097,700 |
$1,106,479
$97,578 |
$1,893,643 |
|
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