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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
Ohio 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(3.99%) | $530,670 | Net Lumpsum Payment | $7,888,000 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$436,479 |
$121,828 $17,416 |
$297,235 |
2 |
$458,316 |
$129,907 $18,287 |
$310,122 |
3 |
$481,226 |
$138,384 $19,201 |
$323,641 |
4 |
$505,296 |
$147,290 $20,161 |
$337,845 |
5 |
$530,555 |
$156,636 $21,169 |
$352,750 |
6 |
$557,090 |
$166,454 $22,228 |
$368,408 |
7 |
$584,930 |
$176,754 $23,339 |
$384,837 |
8 |
$614,191 |
$187,581 $24,506 |
$402,104 |
9 |
$644,902 |
$198,944 $25,732 |
$420,226 |
10 |
$677,150 |
$210,876 $27,018 |
$439,256 |
11 |
$710,993 |
$223,398 $28,369 |
$459,226 |
12 |
$746,547 |
$236,553 $29,787 |
$480,207 |
13 |
$783,870 |
$250,362 $31,276 |
$502,232 |
14 |
$823,078 |
$264,869 $32,841 |
$525,368 |
15 |
$864,229 |
$280,095 $34,483 |
$549,651 |
16 |
$907,439 |
$296,083 $36,207 |
$575,149 |
17 |
$952,795 |
$312,865 $38,017 |
$601,913 |
18 |
$1,000,442 |
$330,494 $39,918 |
$630,030 |
19 |
$1,050,467 |
$349,003 $41,914 |
$659,550 |
20 |
$1,102,986 |
$368,435 $44,009 |
$690,542 |
21 |
$1,158,144 |
$388,844 $46,210 |
$723,090 |
22 |
$1,216,057 |
$410,271 $48,521 |
$757,265 |
23 |
$1,276,841 |
$432,762 $50,946 |
$793,133 |
24 |
$1,340,699 |
$456,389 $53,494 |
$830,816 |
25 |
$1,407,718 |
$481,186 $56,168 |
$870,364 |
26 |
$1,478,130 |
$507,238 $58,977 |
$911,915 |
27 |
$1,552,022 |
$534,579 $61,926 |
$955,517 |
28 |
$1,629,626 |
$563,292 $65,022 |
$1,001,312 |
29 |
$1,711,116 |
$593,443 $68,274 |
$1,049,399 |
30 |
$1,796,666 |
$625,097 $71,687 |
$1,099,882 |
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