The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 Fri Aug 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(3.15%) | $3,924,900 | | Net Lumpsum Payment | $74,612,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$131,328 |
$2,534,892 |
| 2 |
$4,377,708 |
$1,580,082
$137,898 |
$2,659,728 |
| 3 |
$4,596,538 |
$1,661,049
$144,791 |
$2,790,698 |
| 4 |
$4,826,448 |
$1,746,116
$152,033 |
$2,928,299 |
| 5 |
$5,067,715 |
$1,835,385
$159,633 |
$3,072,697 |
| 6 |
$5,321,170 |
$1,929,163
$167,617 |
$3,224,390 |
| 7 |
$5,587,090 |
$2,027,554
$175,993 |
$3,383,543 |
| 8 |
$5,866,583 |
$2,130,966
$184,797 |
$3,550,820 |
| 9 |
$6,159,926 |
$2,239,503
$194,038 |
$3,726,385 |
| 10 |
$6,467,950 |
$2,353,472
$203,740 |
$3,910,738 |
| 11 |
$6,791,209 |
$2,473,078
$213,923 |
$4,104,208 |
| 12 |
$7,130,811 |
$2,598,730
$224,621 |
$4,307,460 |
| 13 |
$7,487,310 |
$2,730,635
$235,850 |
$4,520,825 |
| 14 |
$7,861,814 |
$2,869,202
$247,647 |
$4,744,965 |
| 15 |
$8,254,877 |
$3,014,635
$260,029 |
$4,980,213 |
| 16 |
$8,667,607 |
$3,167,345
$273,030 |
$5,227,232 |
| 17 |
$9,100,835 |
$3,327,639
$286,676 |
$5,486,520 |
| 18 |
$9,555,946 |
$3,496,030
$301,012 |
$5,758,904 |
| 19 |
$10,033,771 |
$3,672,826
$316,064 |
$6,044,881 |
| 20 |
$10,535,418 |
$3,858,435
$331,866 |
$6,345,117 |
| 21 |
$11,062,272 |
$4,053,371
$348,462 |
$6,660,439 |
| 22 |
$11,615,441 |
$4,258,044
$365,886 |
$6,991,511 |
| 23 |
$12,196,033 |
$4,472,863
$384,175 |
$7,338,995 |
| 24 |
$12,805,987 |
$4,698,546
$403,389 |
$7,704,052 |
| 25 |
$13,446,134 |
$4,935,400
$423,553 |
$8,087,181 |
| 26 |
$14,118,690 |
$5,184,246
$444,739 |
$8,489,705 |
| 27 |
$14,824,486 |
$5,445,390
$466,971 |
$8,912,125 |
| 28 |
$15,565,738 |
$5,719,653
$490,321 |
$9,355,764 |
| 29 |
$16,344,108 |
$6,007,650
$514,839 |
$9,821,619 |
| 30 |
$17,161,258 |
$6,309,996
$540,580 |
$10,310,682 |
|
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