The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 Aug 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(4.25%) | $3,196,000 | | Net Lumpsum Payment | $44,219,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$106,185 |
$1,507,518 |
| 2 |
$2,623,464 |
$931,012
$111,497 |
$1,580,955 |
| 3 |
$2,754,604 |
$979,534
$117,071 |
$1,657,999 |
| 4 |
$2,892,384 |
$1,030,512
$122,926 |
$1,738,946 |
| 5 |
$3,036,970 |
$1,084,009
$129,071 |
$1,823,890 |
| 6 |
$3,188,860 |
$1,140,209
$135,527 |
$1,913,124 |
| 7 |
$3,348,220 |
$1,199,172
$142,299 |
$2,006,749 |
| 8 |
$3,515,714 |
$1,261,145
$149,418 |
$2,105,151 |
| 9 |
$3,691,508 |
$1,326,188
$156,889 |
$2,208,431 |
| 10 |
$3,876,100 |
$1,394,487
$164,734 |
$2,316,879 |
| 11 |
$4,069,822 |
$1,466,165
$172,967 |
$2,430,690 |
| 12 |
$4,273,338 |
$1,541,465
$181,617 |
$2,550,256 |
| 13 |
$4,486,980 |
$1,620,513
$190,697 |
$2,675,770 |
| 14 |
$4,711,412 |
$1,703,553
$200,235 |
$2,807,624 |
| 15 |
$4,946,966 |
$1,790,708
$210,246 |
$2,946,012 |
| 16 |
$5,194,306 |
$1,882,224
$220,758 |
$3,091,324 |
| 17 |
$5,453,930 |
$1,978,284
$231,792 |
$3,243,854 |
| 18 |
$5,726,668 |
$2,079,198
$243,383 |
$3,404,087 |
| 19 |
$6,013,018 |
$2,185,147
$255,553 |
$3,572,318 |
| 20 |
$6,313,644 |
$2,296,379
$268,330 |
$3,748,935 |
| 21 |
$6,629,376 |
$2,413,200
$281,748 |
$3,934,428 |
| 22 |
$6,960,878 |
$2,535,855
$295,837 |
$4,129,186 |
| 23 |
$7,308,814 |
$2,664,592
$310,625 |
$4,333,597 |
| 24 |
$7,674,346 |
$2,799,838
$326,160 |
$4,548,348 |
| 25 |
$8,057,972 |
$2,941,780
$342,464 |
$4,773,728 |
| 26 |
$8,461,020 |
$3,090,908
$359,593 |
$5,010,519 |
| 27 |
$8,883,988 |
$3,247,406
$377,569 |
$5,259,013 |
| 28 |
$9,328,204 |
$3,411,766
$396,449 |
$5,519,989 |
| 29 |
$9,794,664 |
$3,584,356
$416,273 |
$5,794,035 |
| 30 |
$10,284,364 |
$3,765,545
$437,085 |
$6,081,734 |
|
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