The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado MEGA Millions Jackpot/Cash Option for Tue Oct 21, 2025 |
|---|
| Draw Date | Tue Oct 21, 2025 | | Projected Jackpot | $650,000,000 | | Cash Value | $304,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $304,100,000 | | Federal Tax(24%) | $72,984,000 | | Additional Federal Tax | $39,493,330 | | State Tax(4%) | $12,164,000 | | Net Lumpsum Payment | $179,458,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,783,150 |
$3,580,096
$391,326 |
$5,811,728 |
| 2 |
$10,272,600 |
$3,761,192
$410,904 |
$6,100,504 |
| 3 |
$10,786,100 |
$3,951,187
$431,444 |
$6,403,469 |
| 4 |
$11,325,600 |
$4,150,802
$453,024 |
$6,721,774 |
| 5 |
$11,891,750 |
$4,360,278
$475,670 |
$7,055,802 |
| 6 |
$12,486,500 |
$4,580,335
$499,460 |
$7,406,705 |
| 7 |
$13,110,500 |
$4,811,215
$524,420 |
$7,774,865 |
| 8 |
$13,766,350 |
$5,053,880
$550,654 |
$8,161,816 |
| 9 |
$14,454,700 |
$5,308,569
$578,188 |
$8,567,943 |
| 10 |
$15,177,500 |
$5,576,005
$607,100 |
$8,994,395 |
| 11 |
$15,936,050 |
$5,856,669
$637,442 |
$9,441,939 |
| 12 |
$16,732,950 |
$6,151,522
$669,318 |
$9,912,110 |
| 13 |
$17,569,500 |
$6,461,045
$702,780 |
$10,405,675 |
| 14 |
$18,448,300 |
$6,786,201
$737,932 |
$10,924,167 |
| 15 |
$19,370,650 |
$7,127,471
$774,826 |
$11,468,353 |
| 16 |
$20,339,150 |
$7,485,816
$813,566 |
$12,039,768 |
| 17 |
$21,355,750 |
$7,861,958
$854,230 |
$12,639,562 |
| 18 |
$22,423,700 |
$8,257,099
$896,948 |
$13,269,653 |
| 19 |
$23,544,950 |
$8,671,962
$941,798 |
$13,931,190 |
| 20 |
$24,722,100 |
$9,107,507
$988,884 |
$14,625,709 |
| 21 |
$25,958,400 |
$9,564,938
$1,038,336 |
$15,355,126 |
| 22 |
$27,256,450 |
$10,045,217
$1,090,258 |
$16,120,975 |
| 23 |
$28,618,850 |
$10,549,305
$1,144,754 |
$16,924,791 |
| 24 |
$30,050,150 |
$11,078,886
$1,202,006 |
$17,769,258 |
| 25 |
$31,552,300 |
$11,634,681
$1,262,092 |
$18,655,527 |
| 26 |
$33,130,500 |
$12,218,615
$1,325,220 |
$19,586,665 |
| 27 |
$34,786,700 |
$12,831,409
$1,391,468 |
$20,563,823 |
| 28 |
$36,526,100 |
$13,474,987
$1,461,044 |
$21,590,069 |
| 29 |
$38,352,600 |
$14,150,792
$1,534,104 |
$22,667,704 |
| 30 |
$40,270,100 |
$14,860,267
$1,610,804 |
$23,799,029 |
|
|
