The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
Montana MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025 |
---|
Draw Date | Tue Apr 29, 2025 | Projected Jackpot | $70,000,000 | Cash Value | $31,800,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $31,800,000 | Federal Tax(24%) | $7,632,000 | Additional Federal Tax | $4,094,330 | State Tax(6.75%) | $2,146,500 | Net Lumpsum Payment | $17,927,170 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,053,570 |
$350,151 $71,116 |
$632,303 |
2 |
$1,106,280 |
$369,654 $74,674 |
$661,952 |
3 |
$1,161,580 |
$390,115 $78,407 |
$693,058 |
4 |
$1,219,680 |
$411,612 $82,328 |
$725,740 |
5 |
$1,280,650 |
$434,171 $86,444 |
$760,035 |
6 |
$1,344,700 |
$457,869 $90,767 |
$796,064 |
7 |
$1,411,900 |
$482,733 $95,303 |
$833,864 |
8 |
$1,482,530 |
$508,866 $100,071 |
$873,593 |
9 |
$1,556,660 |
$536,295 $105,075 |
$915,290 |
10 |
$1,634,500 |
$565,095 $110,329 |
$959,076 |
11 |
$1,716,190 |
$595,321 $115,843 |
$1,005,026 |
12 |
$1,802,010 |
$627,074 $121,636 |
$1,053,300 |
13 |
$1,892,100 |
$660,407 $127,717 |
$1,103,976 |
14 |
$1,986,740 |
$695,424 $134,105 |
$1,157,211 |
15 |
$2,086,070 |
$732,176 $140,810 |
$1,213,084 |
16 |
$2,190,370 |
$770,767 $147,850 |
$1,271,753 |
17 |
$2,299,850 |
$811,275 $155,240 |
$1,333,335 |
18 |
$2,414,860 |
$853,829 $163,003 |
$1,398,028 |
19 |
$2,535,610 |
$898,506 $171,154 |
$1,465,950 |
20 |
$2,662,380 |
$945,411 $179,711 |
$1,537,258 |
21 |
$2,795,520 |
$994,673 $188,698 |
$1,612,149 |
22 |
$2,935,310 |
$1,046,395 $198,133 |
$1,690,782 |
23 |
$3,082,030 |
$1,100,681 $208,037 |
$1,773,312 |
24 |
$3,236,170 |
$1,157,713 $218,441 |
$1,860,016 |
25 |
$3,397,940 |
$1,217,568 $229,361 |
$1,951,011 |
26 |
$3,567,900 |
$1,280,453 $240,833 |
$2,046,614 |
27 |
$3,746,260 |
$1,346,447 $252,873 |
$2,146,940 |
28 |
$3,933,580 |
$1,415,755 $265,517 |
$2,252,308 |
29 |
$4,130,280 |
$1,488,534 $278,794 |
$2,362,952 |
30 |
$4,336,780 |
$1,564,939 $292,733 |
$2,479,108 |
|
|