The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 Tue Apr 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(4.25%) | $1,351,500 | | Net Lumpsum Payment | $18,722,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$44,777 |
$658,642 |
| 2 |
$1,106,280 |
$369,654
$47,017 |
$689,609 |
| 3 |
$1,161,580 |
$390,115
$49,367 |
$722,098 |
| 4 |
$1,219,680 |
$411,612
$51,836 |
$756,232 |
| 5 |
$1,280,650 |
$434,171
$54,428 |
$792,051 |
| 6 |
$1,344,700 |
$457,869
$57,150 |
$829,681 |
| 7 |
$1,411,900 |
$482,733
$60,006 |
$869,161 |
| 8 |
$1,482,530 |
$508,866
$63,008 |
$910,656 |
| 9 |
$1,556,660 |
$536,295
$66,158 |
$954,207 |
| 10 |
$1,634,500 |
$565,095
$69,466 |
$999,939 |
| 11 |
$1,716,190 |
$595,321
$72,938 |
$1,047,931 |
| 12 |
$1,802,010 |
$627,074
$76,585 |
$1,098,351 |
| 13 |
$1,892,100 |
$660,407
$80,414 |
$1,151,279 |
| 14 |
$1,986,740 |
$695,424
$84,436 |
$1,206,880 |
| 15 |
$2,086,070 |
$732,176
$88,658 |
$1,265,236 |
| 16 |
$2,190,370 |
$770,767
$93,091 |
$1,326,512 |
| 17 |
$2,299,850 |
$811,275
$97,744 |
$1,390,831 |
| 18 |
$2,414,860 |
$853,829
$102,632 |
$1,458,399 |
| 19 |
$2,535,610 |
$898,506
$107,763 |
$1,529,341 |
| 20 |
$2,662,380 |
$945,411
$113,151 |
$1,603,818 |
| 21 |
$2,795,520 |
$994,673
$118,810 |
$1,682,037 |
| 22 |
$2,935,310 |
$1,046,395
$124,751 |
$1,764,164 |
| 23 |
$3,082,030 |
$1,100,681
$130,986 |
$1,850,363 |
| 24 |
$3,236,170 |
$1,157,713
$137,537 |
$1,940,920 |
| 25 |
$3,397,940 |
$1,217,568
$144,412 |
$2,035,960 |
| 26 |
$3,567,900 |
$1,280,453
$151,636 |
$2,135,811 |
| 27 |
$3,746,260 |
$1,346,447
$159,216 |
$2,240,597 |
| 28 |
$3,933,580 |
$1,415,755
$167,177 |
$2,350,648 |
| 29 |
$4,130,280 |
$1,488,534
$175,537 |
$2,466,209 |
| 30 |
$4,336,780 |
$1,564,939
$184,313 |
$2,587,528 |
|
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