The jackpot for the MEGA Millions draw on Tue Mar 11, 2025, is projected to be $256 Million, with an option for a cash payout of $119.5 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 Tue Mar 11, 2025 |
|---|
| Draw Date | Tue Mar 11, 2025 | | Projected Jackpot | $256,000,000 | | Cash Value | $119,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,500,000 | | Federal Tax(24%) | $28,680,000 | | Additional Federal Tax | $15,495,330 | | State Tax(4.25%) | $5,078,750 | | Net Lumpsum Payment | $70,245,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,853,056 |
$1,385,961
$163,755 |
$2,303,340 |
| 2 |
$4,045,824 |
$1,457,285
$171,948 |
$2,416,591 |
| 3 |
$4,248,064 |
$1,532,114
$180,543 |
$2,535,407 |
| 4 |
$4,460,544 |
$1,610,732
$189,573 |
$2,660,239 |
| 5 |
$4,683,520 |
$1,693,233
$199,050 |
$2,791,237 |
| 6 |
$4,917,760 |
$1,779,902
$209,005 |
$2,928,853 |
| 7 |
$5,163,520 |
$1,870,833
$219,450 |
$3,073,237 |
| 8 |
$5,421,824 |
$1,966,405
$230,428 |
$3,224,991 |
| 9 |
$5,692,928 |
$2,066,714
$241,949 |
$3,384,265 |
| 10 |
$5,977,600 |
$2,172,042
$254,048 |
$3,551,510 |
| 11 |
$6,276,352 |
$2,282,581
$266,745 |
$3,727,026 |
| 12 |
$6,590,208 |
$2,398,707
$280,084 |
$3,911,417 |
| 13 |
$6,919,680 |
$2,520,612
$294,086 |
$4,104,982 |
| 14 |
$7,265,792 |
$2,648,673
$308,796 |
$4,308,323 |
| 15 |
$7,629,056 |
$2,783,081
$324,235 |
$4,521,740 |
| 16 |
$8,010,496 |
$2,924,214
$340,446 |
$4,745,836 |
| 17 |
$8,410,880 |
$3,072,356
$357,462 |
$4,981,062 |
| 18 |
$8,831,488 |
$3,227,981
$375,338 |
$5,228,169 |
| 19 |
$9,273,088 |
$3,391,373
$394,106 |
$5,487,609 |
| 20 |
$9,736,704 |
$3,562,911
$413,810 |
$5,759,983 |
| 21 |
$10,223,616 |
$3,743,068
$434,504 |
$6,046,044 |
| 22 |
$10,734,848 |
$3,932,224
$456,231 |
$6,346,393 |
| 23 |
$11,271,424 |
$4,130,757
$479,036 |
$6,661,631 |
| 24 |
$11,835,136 |
$4,339,331
$502,993 |
$6,992,812 |
| 25 |
$12,426,752 |
$4,558,229
$528,137 |
$7,340,386 |
| 26 |
$13,048,320 |
$4,788,209
$554,554 |
$7,705,557 |
| 27 |
$13,700,608 |
$5,029,555
$582,276 |
$8,088,777 |
| 28 |
$14,385,664 |
$5,283,026
$611,391 |
$8,491,247 |
| 29 |
$15,105,024 |
$5,549,189
$641,964 |
$8,913,871 |
| 30 |
$15,860,224 |
$5,828,613
$674,060 |
$9,357,551 |
|
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