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 Iowa residents, the state will deduct 5% from your lottery earnings.
| Iowa 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(5%) | $6,305,000 | | Net Lumpsum Payment | $73,177,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$210,714 |
$2,483,952 |
| 2 |
$4,425,120 |
$1,597,625
$221,256 |
$2,606,239 |
| 3 |
$4,646,320 |
$1,679,469
$232,316 |
$2,734,535 |
| 4 |
$4,878,720 |
$1,765,457
$243,936 |
$2,869,327 |
| 5 |
$5,122,600 |
$1,855,692
$256,130 |
$3,010,778 |
| 6 |
$5,378,800 |
$1,950,486
$268,940 |
$3,159,374 |
| 7 |
$5,647,600 |
$2,049,942
$282,380 |
$3,315,278 |
| 8 |
$5,930,120 |
$2,154,475
$296,506 |
$3,479,139 |
| 9 |
$6,226,640 |
$2,264,187
$311,332 |
$3,651,121 |
| 10 |
$6,538,000 |
$2,379,390
$326,900 |
$3,831,710 |
| 11 |
$6,864,760 |
$2,500,292
$343,238 |
$4,021,230 |
| 12 |
$7,208,040 |
$2,627,305
$360,402 |
$4,220,333 |
| 13 |
$7,568,400 |
$2,760,638
$378,420 |
$4,429,342 |
| 14 |
$7,946,960 |
$2,900,706
$397,348 |
$4,648,906 |
| 15 |
$8,344,280 |
$3,047,714
$417,214 |
$4,879,352 |
| 16 |
$8,761,480 |
$3,202,078
$438,074 |
$5,121,328 |
| 17 |
$9,199,400 |
$3,364,108
$459,970 |
$5,375,322 |
| 18 |
$9,659,440 |
$3,534,323
$482,972 |
$5,642,145 |
| 19 |
$10,142,440 |
$3,713,033
$507,122 |
$5,922,285 |
| 20 |
$10,649,520 |
$3,900,653
$532,476 |
$6,216,391 |
| 21 |
$11,182,080 |
$4,097,700
$559,104 |
$6,525,276 |
| 22 |
$11,741,240 |
$4,304,589
$587,062 |
$6,849,589 |
| 23 |
$12,328,120 |
$4,521,735
$616,406 |
$7,189,979 |
| 24 |
$12,944,680 |
$4,749,862
$647,234 |
$7,547,584 |
| 25 |
$13,591,760 |
$4,989,282
$679,588 |
$7,922,890 |
| 26 |
$14,271,600 |
$5,240,822
$713,580 |
$8,317,198 |
| 27 |
$14,985,040 |
$5,504,795
$749,252 |
$8,730,993 |
| 28 |
$15,734,320 |
$5,782,029
$786,716 |
$9,165,575 |
| 29 |
$16,521,120 |
$6,073,145
$826,056 |
$9,621,919 |
| 30 |
$17,347,120 |
$6,378,765
$867,356 |
$10,100,999 |
|
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