The jackpot for the MEGA Millions draw on Tue Feb 11, 2025, is projected to be $110 Million, with an option for a cash payout of $50.2 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 Massachusetts residents, the state will deduct 5% from your lottery earnings.
Massachusetts MEGA Millions Jackpot/Cash Option for Tue Feb 11, 2025 |
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Draw Date | Tue Feb 11, 2025 | Projected Jackpot | $110,000,000 | Cash Value | $50,200,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $50,200,000 | Federal Tax(24%) | $12,048,000 | Additional Federal Tax | $6,486,330 | State Tax(5%) | $2,510,000 | Net Lumpsum Payment | $29,155,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,655,610 |
$572,906 $82,781 |
$999,923 |
2 |
$1,738,440 |
$603,553 $86,922 |
$1,047,965 |
3 |
$1,825,340 |
$635,706 $91,267 |
$1,098,367 |
4 |
$1,916,640 |
$669,487 $95,832 |
$1,151,321 |
5 |
$2,012,450 |
$704,937 $100,623 |
$1,206,890 |
6 |
$2,113,100 |
$742,177 $105,655 |
$1,265,268 |
7 |
$2,218,700 |
$781,249 $110,935 |
$1,326,516 |
8 |
$2,329,690 |
$822,316 $116,485 |
$1,390,889 |
9 |
$2,446,180 |
$865,417 $122,309 |
$1,458,454 |
10 |
$2,568,500 |
$910,675 $128,425 |
$1,529,400 |
11 |
$2,696,870 |
$958,172 $134,844 |
$1,603,854 |
12 |
$2,831,730 |
$1,008,070 $141,587 |
$1,682,073 |
13 |
$2,973,300 |
$1,060,451 $148,665 |
$1,764,184 |
14 |
$3,122,020 |
$1,115,478 $156,101 |
$1,850,441 |
15 |
$3,278,110 |
$1,173,231 $163,906 |
$1,940,973 |
16 |
$3,442,010 |
$1,233,874 $172,101 |
$2,036,035 |
17 |
$3,614,050 |
$1,297,529 $180,703 |
$2,135,818 |
18 |
$3,794,780 |
$1,364,399 $189,739 |
$2,240,642 |
19 |
$3,984,530 |
$1,434,606 $199,227 |
$2,350,697 |
20 |
$4,183,740 |
$1,508,314 $209,187 |
$2,466,239 |
21 |
$4,392,960 |
$1,585,726 $219,648 |
$2,587,586 |
22 |
$4,612,630 |
$1,667,003 $230,632 |
$2,714,995 |
23 |
$4,843,190 |
$1,752,311 $242,160 |
$2,848,719 |
24 |
$5,085,410 |
$1,841,932 $254,271 |
$2,989,207 |
25 |
$5,339,620 |
$1,935,990 $266,981 |
$3,136,649 |
26 |
$5,606,700 |
$2,034,809 $280,335 |
$3,291,556 |
27 |
$5,886,980 |
$2,138,513 $294,349 |
$3,454,118 |
28 |
$6,181,340 |
$2,247,426 $309,067 |
$3,624,847 |
29 |
$6,490,440 |
$2,361,793 $324,522 |
$3,804,125 |
30 |
$6,814,940 |
$2,481,858 $340,747 |
$3,992,335 |
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