The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(10.75%) | $9,879,250 | | Net Lumpsum Payment | $48,057,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$318,743 |
$1,588,906 |
| 2 |
$3,113,388 |
$1,112,284
$334,689 |
$1,666,415 |
| 3 |
$3,269,018 |
$1,169,867
$351,419 |
$1,747,732 |
| 4 |
$3,432,528 |
$1,230,366
$368,997 |
$1,833,165 |
| 5 |
$3,604,115 |
$1,293,853
$387,442 |
$1,922,820 |
| 6 |
$3,784,370 |
$1,360,547
$406,820 |
$2,017,003 |
| 7 |
$3,973,490 |
$1,430,522
$427,150 |
$2,115,818 |
| 8 |
$4,172,263 |
$1,504,068
$448,518 |
$2,219,677 |
| 9 |
$4,380,886 |
$1,581,258
$470,945 |
$2,328,683 |
| 10 |
$4,599,950 |
$1,662,312
$494,495 |
$2,443,143 |
| 11 |
$4,829,849 |
$1,747,375
$519,209 |
$2,563,265 |
| 12 |
$5,071,371 |
$1,836,738
$545,172 |
$2,689,461 |
| 13 |
$5,324,910 |
$1,930,547
$572,428 |
$2,821,935 |
| 14 |
$5,591,254 |
$2,029,094
$601,060 |
$2,961,100 |
| 15 |
$5,870,797 |
$2,132,525
$631,111 |
$3,107,161 |
| 16 |
$6,164,327 |
$2,241,131
$662,665 |
$3,260,531 |
| 17 |
$6,472,435 |
$2,355,131
$695,787 |
$3,421,517 |
| 18 |
$6,796,106 |
$2,474,890
$730,581 |
$3,590,635 |
| 19 |
$7,135,931 |
$2,600,625
$767,113 |
$3,768,193 |
| 20 |
$7,492,698 |
$2,732,629
$805,465 |
$3,954,604 |
| 21 |
$7,867,392 |
$2,871,265
$845,745 |
$4,150,382 |
| 22 |
$8,260,801 |
$3,016,827
$888,036 |
$4,355,938 |
| 23 |
$8,673,713 |
$3,169,604
$932,424 |
$4,571,685 |
| 24 |
$9,107,507 |
$3,330,108
$979,057 |
$4,798,342 |
| 25 |
$9,562,774 |
$3,498,557
$1,027,998 |
$5,036,219 |
| 26 |
$10,041,090 |
$3,675,534
$1,079,417 |
$5,286,139 |
| 27 |
$10,543,046 |
$3,861,257
$1,133,377 |
$5,548,412 |
| 28 |
$11,070,218 |
$4,056,311
$1,190,048 |
$5,823,859 |
| 29 |
$11,623,788 |
$4,261,132
$1,249,557 |
$6,113,099 |
| 30 |
$12,204,938 |
$4,476,157
$1,312,031 |
$6,416,750 |
|
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