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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine 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(5%) | $4,135,000 | | Net Lumpsum Payment | $48,005,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,724,231 |
$968,296
$136,212 |
$1,619,723 |
| 2 |
$2,860,524 |
$1,018,724
$143,026 |
$1,698,774 |
| 3 |
$3,003,514 |
$1,071,631
$150,176 |
$1,781,707 |
| 4 |
$3,153,744 |
$1,127,216
$157,687 |
$1,868,841 |
| 5 |
$3,311,395 |
$1,185,547
$165,570 |
$1,960,278 |
| 6 |
$3,477,010 |
$1,246,824
$173,851 |
$2,056,335 |
| 7 |
$3,650,770 |
$1,311,115
$182,539 |
$2,157,116 |
| 8 |
$3,833,399 |
$1,378,688
$191,670 |
$2,263,041 |
| 9 |
$4,025,078 |
$1,449,609
$201,254 |
$2,374,215 |
| 10 |
$4,226,350 |
$1,524,080
$211,318 |
$2,490,952 |
| 11 |
$4,437,577 |
$1,602,234
$221,879 |
$2,613,464 |
| 12 |
$4,659,483 |
$1,684,339
$232,974 |
$2,742,170 |
| 13 |
$4,892,430 |
$1,770,529
$244,622 |
$2,877,279 |
| 14 |
$5,137,142 |
$1,861,073
$256,857 |
$3,019,212 |
| 15 |
$5,393,981 |
$1,956,103
$269,699 |
$3,168,179 |
| 16 |
$5,663,671 |
$2,055,889
$283,184 |
$3,324,598 |
| 17 |
$5,946,755 |
$2,160,630
$297,338 |
$3,488,787 |
| 18 |
$6,244,138 |
$2,270,661
$312,207 |
$3,661,270 |
| 19 |
$6,556,363 |
$2,386,185
$327,818 |
$3,842,360 |
| 20 |
$6,884,154 |
$2,507,467
$344,208 |
$4,032,479 |
| 21 |
$7,228,416 |
$2,634,844
$361,421 |
$4,232,151 |
| 22 |
$7,589,873 |
$2,768,583
$379,494 |
$4,441,796 |
| 23 |
$7,969,249 |
$2,908,953
$398,462 |
$4,661,834 |
| 24 |
$8,367,811 |
$3,056,420
$418,391 |
$4,893,000 |
| 25 |
$8,786,102 |
$3,211,188
$439,305 |
$5,135,609 |
| 26 |
$9,225,570 |
$3,373,791
$461,279 |
$5,390,500 |
| 27 |
$9,686,758 |
$3,544,431
$484,338 |
$5,657,989 |
| 28 |
$10,171,114 |
$3,723,643
$508,556 |
$5,938,915 |
| 29 |
$10,679,724 |
$3,911,828
$533,986 |
$6,233,910 |
| 30 |
$11,213,674 |
$4,109,390
$560,684 |
$6,543,600 |
|
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