The jackpot for the MEGA Millions draw on Tue Jun 17, 2025, is projected to be $280 Million, with an option for a cash payout of $126.1 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 those living in Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida MEGA Millions Jackpot/Cash Option for Tue Jun 17, 2025 |
|---|
| Draw Date | Tue Jun 17, 2025 | | Projected Jackpot | $280,000,000 | | Cash Value | $126,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,100,000 | | Federal Tax(24%) | $30,264,000 | | Additional Federal Tax | $16,353,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $79,482,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$0 |
$2,694,666 |
| 2 |
$4,425,120 |
$1,597,625
$0 |
$2,827,495 |
| 3 |
$4,646,320 |
$1,679,469
$0 |
$2,966,851 |
| 4 |
$4,878,720 |
$1,765,457
$0 |
$3,113,263 |
| 5 |
$5,122,600 |
$1,855,692
$0 |
$3,266,908 |
| 6 |
$5,378,800 |
$1,950,486
$0 |
$3,428,314 |
| 7 |
$5,647,600 |
$2,049,942
$0 |
$3,597,658 |
| 8 |
$5,930,120 |
$2,154,475
$0 |
$3,775,645 |
| 9 |
$6,226,640 |
$2,264,187
$0 |
$3,962,453 |
| 10 |
$6,538,000 |
$2,379,390
$0 |
$4,158,610 |
| 11 |
$6,864,760 |
$2,500,292
$0 |
$4,364,468 |
| 12 |
$7,208,040 |
$2,627,305
$0 |
$4,580,735 |
| 13 |
$7,568,400 |
$2,760,638
$0 |
$4,807,762 |
| 14 |
$7,946,960 |
$2,900,706
$0 |
$5,046,254 |
| 15 |
$8,344,280 |
$3,047,714
$0 |
$5,296,566 |
| 16 |
$8,761,480 |
$3,202,078
$0 |
$5,559,402 |
| 17 |
$9,199,400 |
$3,364,108
$0 |
$5,835,292 |
| 18 |
$9,659,440 |
$3,534,323
$0 |
$6,125,117 |
| 19 |
$10,142,440 |
$3,713,033
$0 |
$6,429,407 |
| 20 |
$10,649,520 |
$3,900,653
$0 |
$6,748,867 |
| 21 |
$11,182,080 |
$4,097,700
$0 |
$7,084,380 |
| 22 |
$11,741,240 |
$4,304,589
$0 |
$7,436,651 |
| 23 |
$12,328,120 |
$4,521,735
$0 |
$7,806,385 |
| 24 |
$12,944,680 |
$4,749,862
$0 |
$8,194,818 |
| 25 |
$13,591,760 |
$4,989,282
$0 |
$8,602,478 |
| 26 |
$14,271,600 |
$5,240,822
$0 |
$9,030,778 |
| 27 |
$14,985,040 |
$5,504,795
$0 |
$9,480,245 |
| 28 |
$15,734,320 |
$5,782,029
$0 |
$9,952,291 |
| 29 |
$16,521,120 |
$6,073,145
$0 |
$10,447,975 |
| 30 |
$17,347,120 |
$6,378,765
$0 |
$10,968,355 |
|
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