The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
Maryland MEGA Millions Jackpot/Cash Option for Fri Jun 27, 2025 |
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Draw Date | Fri Jun 27, 2025 | Projected Jackpot | $348,000,000 | Cash Value | $155,500,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $155,500,000 | Federal Tax(24%) | $37,320,000 | Additional Federal Tax | $20,175,330 | State Tax(8.95%) | $13,917,250 | Net Lumpsum Payment | $84,087,420 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$5,237,748 |
$1,898,297 $468,778 |
$2,870,673 |
2 |
$5,499,792 |
$1,995,253 $492,231 |
$3,012,308 |
3 |
$5,774,712 |
$2,096,974 $516,837 |
$3,160,901 |
4 |
$6,063,552 |
$2,203,845 $542,688 |
$3,317,019 |
5 |
$6,366,660 |
$2,315,995 $569,816 |
$3,480,849 |
6 |
$6,685,080 |
$2,433,810 $598,315 |
$3,652,955 |
7 |
$7,019,160 |
$2,557,420 $628,215 |
$3,833,525 |
8 |
$7,370,292 |
$2,687,338 $659,641 |
$4,023,313 |
9 |
$7,738,824 |
$2,823,695 $692,625 |
$4,222,504 |
10 |
$8,125,800 |
$2,966,876 $727,259 |
$4,431,665 |
11 |
$8,531,916 |
$3,117,139 $763,606 |
$4,651,171 |
12 |
$8,958,564 |
$3,274,999 $801,791 |
$4,881,774 |
13 |
$9,406,440 |
$3,440,713 $841,876 |
$5,123,851 |
14 |
$9,876,936 |
$3,614,797 $883,986 |
$5,378,153 |
15 |
$10,370,748 |
$3,797,507 $928,182 |
$5,645,059 |
16 |
$10,889,268 |
$3,989,360 $974,589 |
$5,925,319 |
17 |
$11,433,540 |
$4,190,740 $1,023,302 |
$6,219,498 |
18 |
$12,005,304 |
$4,402,293 $1,074,475 |
$6,528,536 |
19 |
$12,605,604 |
$4,624,404 $1,128,202 |
$6,852,998 |
20 |
$13,235,832 |
$4,857,588 $1,184,607 |
$7,193,637 |
21 |
$13,897,728 |
$5,102,490 $1,243,847 |
$7,551,391 |
22 |
$14,592,684 |
$5,359,623 $1,306,045 |
$7,927,016 |
23 |
$15,322,092 |
$5,629,504 $1,371,327 |
$8,321,261 |
24 |
$16,088,388 |
$5,913,034 $1,439,911 |
$8,735,443 |
25 |
$16,892,616 |
$6,210,598 $1,511,889 |
$9,170,129 |
26 |
$17,737,560 |
$6,523,228 $1,587,512 |
$9,626,820 |
27 |
$18,624,264 |
$6,851,308 $1,666,872 |
$10,106,084 |
28 |
$19,555,512 |
$7,195,870 $1,750,218 |
$10,609,424 |
29 |
$20,533,392 |
$7,557,685 $1,837,739 |
$11,137,968 |
30 |
$21,559,992 |
$7,937,527 $1,929,619 |
$11,692,846 |
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