The jackpot for the MEGA Millions draw on Fri Oct 3, 2025, is projected to be $520 Million, with an option for a cash payout of $240.1 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 Oct 3, 2025 |
|---|
| Draw Date | Fri Oct 3, 2025 | | Projected Jackpot | $520,000,000 | | Cash Value | $240,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $240,100,000 | | Federal Tax(24%) | $57,624,000 | | Additional Federal Tax | $31,173,330 | | State Tax(4.25%) | $10,204,250 | | Net Lumpsum Payment | $141,098,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,826,520 |
$2,856,143
$332,627 |
$4,637,750 |
| 2 |
$8,218,080 |
$3,001,020
$349,268 |
$4,867,792 |
| 3 |
$8,628,880 |
$3,153,016
$366,727 |
$5,109,137 |
| 4 |
$9,060,480 |
$3,312,708
$385,070 |
$5,362,702 |
| 5 |
$9,513,400 |
$3,480,288
$404,320 |
$5,628,792 |
| 6 |
$9,989,200 |
$3,656,334
$424,541 |
$5,908,325 |
| 7 |
$10,488,400 |
$3,841,038
$445,757 |
$6,201,605 |
| 8 |
$11,013,080 |
$4,035,170
$468,056 |
$6,509,854 |
| 9 |
$11,563,760 |
$4,238,922
$491,460 |
$6,833,378 |
| 10 |
$12,142,000 |
$4,452,870
$516,035 |
$7,173,095 |
| 11 |
$12,748,840 |
$4,677,401
$541,826 |
$7,529,613 |
| 12 |
$13,386,360 |
$4,913,284
$568,920 |
$7,904,156 |
| 13 |
$14,055,600 |
$5,160,902
$597,363 |
$8,297,335 |
| 14 |
$14,758,640 |
$5,421,027
$627,242 |
$8,710,371 |
| 15 |
$15,496,520 |
$5,694,043
$658,602 |
$9,143,875 |
| 16 |
$16,271,320 |
$5,980,719
$691,531 |
$9,599,070 |
| 17 |
$17,084,600 |
$6,281,632
$726,096 |
$10,076,872 |
| 18 |
$17,938,960 |
$6,597,746
$762,406 |
$10,578,808 |
| 19 |
$18,835,960 |
$6,929,636
$800,528 |
$11,105,796 |
| 20 |
$19,777,680 |
$7,278,072
$840,551 |
$11,659,057 |
| 21 |
$20,766,720 |
$7,644,017
$882,586 |
$12,240,117 |
| 22 |
$21,805,160 |
$8,028,240
$926,719 |
$12,850,201 |
| 23 |
$22,895,080 |
$8,431,510
$973,041 |
$13,490,529 |
| 24 |
$24,040,120 |
$8,855,175
$1,021,705 |
$14,163,240 |
| 25 |
$25,241,840 |
$9,299,811
$1,072,778 |
$14,869,251 |
| 26 |
$26,504,400 |
$9,766,958
$1,126,437 |
$15,611,005 |
| 27 |
$27,829,360 |
$10,257,194
$1,182,748 |
$16,389,418 |
| 28 |
$29,220,880 |
$10,772,056
$1,241,887 |
$17,206,937 |
| 29 |
$30,682,080 |
$11,312,700
$1,303,988 |
$18,065,392 |
| 30 |
$32,216,080 |
$11,880,280
$1,369,183 |
$18,966,617 |
|
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