Jackpot Analysis Michigan Mega Millions

Jackpot Analysis for Michigan Mega Millions
The jackpot for the MEGA Millions draw on Fri Mar 28, 2025, is projected to be $20 Million, with an option for a cash payout of $9.2 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.

Michigan MEGA Millions Jackpot/Cash Option for Fri Mar 28, 2025
Draw DateFri Mar 28, 2025
Projected Jackpot$20,000,000
Cash Value$9,200,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$9,200,000
Federal Tax(24%)$2,208,000
Additional Federal Tax$1,156,330
State Tax(4.25%)$391,000
Net Lumpsum Payment$5,444,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $301,020 $71,708
$12,793
$216,519
2 $316,080 $77,280
$13,433
$225,367
3 $331,880 $83,126
$14,105
$234,649
4 $348,480 $89,268
$14,810
$244,402
5 $365,900 $95,713
$15,551
$254,636
6 $384,200 $102,484
$16,329
$265,387
7 $403,400 $109,588
$17,145
$276,667
8 $423,580 $117,055
$18,002
$288,523
9 $444,760 $124,892
$18,902
$300,966
10 $467,000 $133,120
$19,848
$314,032
11 $490,340 $141,756
$20,839
$327,745
12 $514,860 $150,829
$21,882
$342,149
13 $540,600 $160,352
$22,976
$357,272
14 $567,640 $170,357
$24,125
$373,158
15 $596,020 $180,858
$25,331
$389,831
16 $625,820 $191,884
$26,597
$407,339
17 $657,100 $203,457
$27,927
$425,716
18 $689,960 $215,616
$29,323
$445,021
19 $724,460 $228,381
$30,790
$465,289
20 $760,680 $241,782
$32,329
$486,569
21 $798,720 $255,857
$33,946
$508,917
22 $838,660 $270,635
$35,643
$532,382
23 $880,580 $286,145
$37,425
$557,010
24 $924,620 $302,440
$39,296
$582,884
25 $970,840 $319,541
$41,261
$610,038
26 $1,019,400 $337,508
$43,325
$638,567
27 $1,070,360 $356,364
$45,490
$668,506
28 $1,123,880 $376,166
$47,765
$699,949
29 $1,180,080 $396,960
$50,153
$732,967
30 $1,239,080 $418,790
$52,661
$767,629