The jackpot for the MEGA Millions draw on Fri Feb 7, 2025, is projected to be $94 Million, with an option for a cash payout of $42.3 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 Fri Feb 7, 2025 |
|---|
| Draw Date | Fri Feb 7, 2025 | | Projected Jackpot | $94,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(6.75%) | $2,855,250 | | Net Lumpsum Payment | $23,833,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,414,794 |
$483,804
$95,499 |
$835,491 |
| 2 |
$1,485,576 |
$509,994
$100,276 |
$875,306 |
| 3 |
$1,559,836 |
$537,470
$105,289 |
$917,077 |
| 4 |
$1,637,856 |
$566,337
$110,555 |
$960,964 |
| 5 |
$1,719,730 |
$596,630
$116,082 |
$1,007,018 |
| 6 |
$1,805,740 |
$628,454
$121,887 |
$1,055,399 |
| 7 |
$1,895,980 |
$661,843
$127,979 |
$1,106,158 |
| 8 |
$1,990,826 |
$696,936
$134,381 |
$1,159,509 |
| 9 |
$2,090,372 |
$733,768
$141,100 |
$1,215,504 |
| 10 |
$2,194,900 |
$772,443
$148,156 |
$1,274,301 |
| 11 |
$2,304,598 |
$813,032
$155,560 |
$1,336,006 |
| 12 |
$2,419,842 |
$855,672
$163,339 |
$1,400,831 |
| 13 |
$2,540,820 |
$900,434
$171,505 |
$1,468,881 |
| 14 |
$2,667,908 |
$947,456
$180,084 |
$1,540,368 |
| 15 |
$2,801,294 |
$996,809
$189,087 |
$1,615,398 |
| 16 |
$2,941,354 |
$1,048,631
$198,541 |
$1,694,182 |
| 17 |
$3,088,370 |
$1,103,027
$208,465 |
$1,776,878 |
| 18 |
$3,242,812 |
$1,160,171
$218,890 |
$1,863,751 |
| 19 |
$3,404,962 |
$1,220,166
$229,835 |
$1,954,961 |
| 20 |
$3,575,196 |
$1,283,153
$241,326 |
$2,050,717 |
| 21 |
$3,753,984 |
$1,349,304
$253,394 |
$2,151,286 |
| 22 |
$3,941,702 |
$1,418,760
$266,065 |
$2,256,877 |
| 23 |
$4,138,726 |
$1,491,659
$279,364 |
$2,367,703 |
| 24 |
$4,345,714 |
$1,568,245
$293,336 |
$2,484,133 |
| 25 |
$4,562,948 |
$1,648,621
$307,999 |
$2,606,328 |
| 26 |
$4,791,180 |
$1,733,067
$323,405 |
$2,734,708 |
| 27 |
$5,030,692 |
$1,821,686
$339,572 |
$2,869,434 |
| 28 |
$5,282,236 |
$1,914,758
$356,551 |
$3,010,927 |
| 29 |
$5,546,376 |
$2,012,490
$374,380 |
$3,159,506 |
| 30 |
$5,823,676 |
$2,115,091
$393,098 |
$3,315,487 |
|
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