The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Nebraska residents, the state will deduct 5% from your lottery earnings.
Nebraska MEGA Millions Jackpot/Cash Option for Tue Apr 1, 2025 |
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Draw Date | Tue Apr 1, 2025 | Projected Jackpot | $29,000,000 | Cash Value | $13,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $13,300,000 | Federal Tax(24%) | $3,192,000 | Additional Federal Tax | $1,689,330 | State Tax(5%) | $665,000 | Net Lumpsum Payment | $7,753,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$436,479 |
$121,828 $21,824 |
$292,827 |
2 |
$458,316 |
$129,907 $22,916 |
$305,493 |
3 |
$481,226 |
$138,384 $24,061 |
$318,781 |
4 |
$505,296 |
$147,290 $25,265 |
$332,741 |
5 |
$530,555 |
$156,636 $26,528 |
$347,391 |
6 |
$557,090 |
$166,454 $27,855 |
$362,781 |
7 |
$584,930 |
$176,754 $29,247 |
$378,929 |
8 |
$614,191 |
$187,581 $30,710 |
$395,900 |
9 |
$644,902 |
$198,944 $32,245 |
$413,713 |
10 |
$677,150 |
$210,876 $33,858 |
$432,416 |
11 |
$710,993 |
$223,398 $35,550 |
$452,045 |
12 |
$746,547 |
$236,553 $37,327 |
$472,667 |
13 |
$783,870 |
$250,362 $39,194 |
$494,314 |
14 |
$823,078 |
$264,869 $41,154 |
$517,055 |
15 |
$864,229 |
$280,095 $43,211 |
$540,923 |
16 |
$907,439 |
$296,083 $45,372 |
$565,984 |
17 |
$952,795 |
$312,865 $47,640 |
$592,290 |
18 |
$1,000,442 |
$330,494 $50,022 |
$619,926 |
19 |
$1,050,467 |
$349,003 $52,523 |
$648,941 |
20 |
$1,102,986 |
$368,435 $55,149 |
$679,402 |
21 |
$1,158,144 |
$388,844 $57,907 |
$711,393 |
22 |
$1,216,057 |
$410,271 $60,803 |
$744,983 |
23 |
$1,276,841 |
$432,762 $63,842 |
$780,237 |
24 |
$1,340,699 |
$456,389 $67,035 |
$817,275 |
25 |
$1,407,718 |
$481,186 $70,386 |
$856,146 |
26 |
$1,478,130 |
$507,238 $73,907 |
$896,985 |
27 |
$1,552,022 |
$534,579 $77,601 |
$939,842 |
28 |
$1,629,626 |
$563,292 $81,481 |
$984,853 |
29 |
$1,711,116 |
$593,443 $85,556 |
$1,032,117 |
30 |
$1,796,666 |
$625,097 $89,833 |
$1,081,736 |
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