The jackpot for the MEGA Millions draw on Tue Jul 1, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma MEGA Millions Jackpot/Cash Option for Tue Jul 1, 2025 |
|---|
| Draw Date | Tue Jul 1, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(4.75%) | $1,064,000 | | Net Lumpsum Payment | $13,087,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$35,746 |
$478,030 |
| 2 |
$790,200 |
$252,704
$37,535 |
$499,961 |
| 3 |
$829,700 |
$267,319
$39,411 |
$522,970 |
| 4 |
$871,200 |
$282,674
$41,382 |
$547,144 |
| 5 |
$914,750 |
$298,788
$43,451 |
$572,511 |
| 6 |
$960,500 |
$315,715
$45,624 |
$599,161 |
| 7 |
$1,008,500 |
$333,475
$47,904 |
$627,121 |
| 8 |
$1,058,950 |
$352,142
$50,300 |
$656,508 |
| 9 |
$1,111,900 |
$371,733
$52,815 |
$687,352 |
| 10 |
$1,167,500 |
$392,305
$55,456 |
$719,739 |
| 11 |
$1,225,850 |
$413,895
$58,228 |
$753,727 |
| 12 |
$1,287,150 |
$436,576
$61,140 |
$789,434 |
| 13 |
$1,351,500 |
$460,385
$64,196 |
$826,919 |
| 14 |
$1,419,100 |
$485,397
$67,407 |
$866,296 |
| 15 |
$1,490,050 |
$511,649
$70,777 |
$907,624 |
| 16 |
$1,564,550 |
$539,214
$74,316 |
$951,020 |
| 17 |
$1,642,750 |
$568,148
$78,031 |
$996,571 |
| 18 |
$1,724,900 |
$598,543
$81,933 |
$1,044,424 |
| 19 |
$1,811,150 |
$630,456
$86,030 |
$1,094,664 |
| 20 |
$1,901,700 |
$663,959
$90,331 |
$1,147,410 |
| 21 |
$1,996,800 |
$699,146
$94,848 |
$1,202,806 |
| 22 |
$2,096,650 |
$736,091
$99,591 |
$1,260,968 |
| 23 |
$2,201,450 |
$774,867
$104,569 |
$1,322,014 |
| 24 |
$2,311,550 |
$815,604
$109,799 |
$1,386,147 |
| 25 |
$2,427,100 |
$858,357
$115,287 |
$1,453,456 |
| 26 |
$2,548,500 |
$903,275
$121,054 |
$1,524,171 |
| 27 |
$2,675,900 |
$950,413
$127,105 |
$1,598,382 |
| 28 |
$2,809,700 |
$999,919
$133,461 |
$1,676,320 |
| 29 |
$2,950,200 |
$1,051,904
$140,135 |
$1,758,161 |
| 30 |
$3,097,700 |
$1,106,479
$147,141 |
$1,844,080 |
|
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