The jackpot for the MEGA Millions draw on Tue Feb 25, 2025, is projected to be $181 Million, with an option for a cash payout of $82.7 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 Feb 25, 2025 |
|---|
| Draw Date | Tue Feb 25, 2025 | | Projected Jackpot | $181,000,000 | | Cash Value | $82,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $82,700,000 | | Federal Tax(24%) | $19,848,000 | | Additional Federal Tax | $10,711,330 | | State Tax(3.99%) | $3,299,730 | | Net Lumpsum Payment | $48,840,940 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,724,231 |
$968,296
$108,697 |
$1,647,238 |
| 2 |
$2,860,524 |
$1,018,724
$114,135 |
$1,727,665 |
| 3 |
$3,003,514 |
$1,071,631
$119,840 |
$1,812,043 |
| 4 |
$3,153,744 |
$1,127,216
$125,834 |
$1,900,694 |
| 5 |
$3,311,395 |
$1,185,547
$132,125 |
$1,993,723 |
| 6 |
$3,477,010 |
$1,246,824
$138,733 |
$2,091,453 |
| 7 |
$3,650,770 |
$1,311,115
$145,666 |
$2,193,989 |
| 8 |
$3,833,399 |
$1,378,688
$152,953 |
$2,301,758 |
| 9 |
$4,025,078 |
$1,449,609
$160,601 |
$2,414,868 |
| 10 |
$4,226,350 |
$1,524,080
$168,631 |
$2,533,639 |
| 11 |
$4,437,577 |
$1,602,234
$177,059 |
$2,658,284 |
| 12 |
$4,659,483 |
$1,684,339
$185,913 |
$2,789,231 |
| 13 |
$4,892,430 |
$1,770,529
$195,208 |
$2,926,693 |
| 14 |
$5,137,142 |
$1,861,073
$204,972 |
$3,071,097 |
| 15 |
$5,393,981 |
$1,956,103
$215,220 |
$3,222,658 |
| 16 |
$5,663,671 |
$2,055,889
$225,980 |
$3,381,802 |
| 17 |
$5,946,755 |
$2,160,630
$237,276 |
$3,548,849 |
| 18 |
$6,244,138 |
$2,270,661
$249,141 |
$3,724,336 |
| 19 |
$6,556,363 |
$2,386,185
$261,599 |
$3,908,579 |
| 20 |
$6,884,154 |
$2,507,467
$274,678 |
$4,102,009 |
| 21 |
$7,228,416 |
$2,634,844
$288,414 |
$4,305,158 |
| 22 |
$7,589,873 |
$2,768,583
$302,836 |
$4,518,454 |
| 23 |
$7,969,249 |
$2,908,953
$317,973 |
$4,742,323 |
| 24 |
$8,367,811 |
$3,056,420
$333,876 |
$4,977,515 |
| 25 |
$8,786,102 |
$3,211,188
$350,565 |
$5,224,349 |
| 26 |
$9,225,570 |
$3,373,791
$368,100 |
$5,483,679 |
| 27 |
$9,686,758 |
$3,544,431
$386,502 |
$5,755,825 |
| 28 |
$10,171,114 |
$3,723,643
$405,827 |
$6,041,644 |
| 29 |
$10,679,724 |
$3,911,828
$426,121 |
$6,341,775 |
| 30 |
$11,213,674 |
$4,109,390
$447,426 |
$6,656,858 |
|
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