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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan MEGA Millions Jackpot/Cash Option for Fri Jun 27, 2025 |
|---|
| Draw Date | Fri Jun 27, 2025 | | Projected Jackpot | $348,000,000 | | Cash Value | $155,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $155,500,000 | | Federal Tax(24%) | $37,320,000 | | Additional Federal Tax | $20,175,330 | | State Tax(4.25%) | $6,608,750 | | Net Lumpsum Payment | $91,395,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$222,604 |
$3,116,847 |
| 2 |
$5,499,792 |
$1,995,253
$233,741 |
$3,270,798 |
| 3 |
$5,774,712 |
$2,096,974
$245,425 |
$3,432,313 |
| 4 |
$6,063,552 |
$2,203,845
$257,701 |
$3,602,006 |
| 5 |
$6,366,660 |
$2,315,995
$270,583 |
$3,780,082 |
| 6 |
$6,685,080 |
$2,433,810
$284,116 |
$3,967,154 |
| 7 |
$7,019,160 |
$2,557,420
$298,314 |
$4,163,426 |
| 8 |
$7,370,292 |
$2,687,338
$313,237 |
$4,369,717 |
| 9 |
$7,738,824 |
$2,823,695
$328,900 |
$4,586,229 |
| 10 |
$8,125,800 |
$2,966,876
$345,347 |
$4,813,577 |
| 11 |
$8,531,916 |
$3,117,139
$362,606 |
$5,052,171 |
| 12 |
$8,958,564 |
$3,274,999
$380,739 |
$5,302,826 |
| 13 |
$9,406,440 |
$3,440,713
$399,774 |
$5,565,953 |
| 14 |
$9,876,936 |
$3,614,797
$419,770 |
$5,842,369 |
| 15 |
$10,370,748 |
$3,797,507
$440,757 |
$6,132,484 |
| 16 |
$10,889,268 |
$3,989,360
$462,794 |
$6,437,114 |
| 17 |
$11,433,540 |
$4,190,740
$485,925 |
$6,756,875 |
| 18 |
$12,005,304 |
$4,402,293
$510,225 |
$7,092,786 |
| 19 |
$12,605,604 |
$4,624,404
$535,738 |
$7,445,462 |
| 20 |
$13,235,832 |
$4,857,588
$562,523 |
$7,815,721 |
| 21 |
$13,897,728 |
$5,102,490
$590,653 |
$8,204,585 |
| 22 |
$14,592,684 |
$5,359,623
$620,189 |
$8,612,872 |
| 23 |
$15,322,092 |
$5,629,504
$651,189 |
$9,041,399 |
| 24 |
$16,088,388 |
$5,913,034
$683,756 |
$9,491,598 |
| 25 |
$16,892,616 |
$6,210,598
$717,936 |
$9,964,082 |
| 26 |
$17,737,560 |
$6,523,228
$753,846 |
$10,460,486 |
| 27 |
$18,624,264 |
$6,851,308
$791,531 |
$10,981,425 |
| 28 |
$19,555,512 |
$7,195,870
$831,109 |
$11,528,533 |
| 29 |
$20,533,392 |
$7,557,685
$872,669 |
$12,103,038 |
| 30 |
$21,559,992 |
$7,937,527
$916,300 |
$12,706,165 |
|
|
