The jackpot for the MEGA Millions draw on Tue Apr 22, 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan MEGA Millions Jackpot/Cash Option for Tue Apr 22, 2025 |
|---|
| Draw Date | Tue Apr 22, 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(4.25%) | $952,000 | | Net Lumpsum Payment | $13,199,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$31,983 |
$481,793 |
| 2 |
$790,200 |
$252,704
$33,584 |
$503,912 |
| 3 |
$829,700 |
$267,319
$35,262 |
$527,119 |
| 4 |
$871,200 |
$282,674
$37,026 |
$551,500 |
| 5 |
$914,750 |
$298,788
$38,877 |
$577,085 |
| 6 |
$960,500 |
$315,715
$40,821 |
$603,964 |
| 7 |
$1,008,500 |
$333,475
$42,861 |
$632,164 |
| 8 |
$1,058,950 |
$352,142
$45,005 |
$661,803 |
| 9 |
$1,111,900 |
$371,733
$47,256 |
$692,911 |
| 10 |
$1,167,500 |
$392,305
$49,619 |
$725,576 |
| 11 |
$1,225,850 |
$413,895
$52,099 |
$759,856 |
| 12 |
$1,287,150 |
$436,576
$54,704 |
$795,870 |
| 13 |
$1,351,500 |
$460,385
$57,439 |
$833,676 |
| 14 |
$1,419,100 |
$485,397
$60,312 |
$873,391 |
| 15 |
$1,490,050 |
$511,649
$63,327 |
$915,074 |
| 16 |
$1,564,550 |
$539,214
$66,493 |
$958,843 |
| 17 |
$1,642,750 |
$568,148
$69,817 |
$1,004,785 |
| 18 |
$1,724,900 |
$598,543
$73,308 |
$1,053,049 |
| 19 |
$1,811,150 |
$630,456
$76,974 |
$1,103,720 |
| 20 |
$1,901,700 |
$663,959
$80,822 |
$1,156,919 |
| 21 |
$1,996,800 |
$699,146
$84,864 |
$1,212,790 |
| 22 |
$2,096,650 |
$736,091
$89,108 |
$1,271,451 |
| 23 |
$2,201,450 |
$774,867
$93,562 |
$1,333,021 |
| 24 |
$2,311,550 |
$815,604
$98,241 |
$1,397,705 |
| 25 |
$2,427,100 |
$858,357
$103,152 |
$1,465,591 |
| 26 |
$2,548,500 |
$903,275
$108,311 |
$1,536,914 |
| 27 |
$2,675,900 |
$950,413
$113,726 |
$1,611,761 |
| 28 |
$2,809,700 |
$999,919
$119,412 |
$1,690,369 |
| 29 |
$2,950,200 |
$1,051,904
$125,384 |
$1,772,912 |
| 30 |
$3,097,700 |
$1,106,479
$131,652 |
$1,859,569 |
|
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