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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia 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(5.75%) | $5,284,250 | | Net Lumpsum Payment | $52,652,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$170,490 |
$1,737,159 |
| 2 |
$3,113,388 |
$1,112,284
$179,020 |
$1,822,084 |
| 3 |
$3,269,018 |
$1,169,867
$187,969 |
$1,911,182 |
| 4 |
$3,432,528 |
$1,230,366
$197,370 |
$2,004,792 |
| 5 |
$3,604,115 |
$1,293,853
$207,237 |
$2,103,025 |
| 6 |
$3,784,370 |
$1,360,547
$217,601 |
$2,206,222 |
| 7 |
$3,973,490 |
$1,430,522
$228,476 |
$2,314,492 |
| 8 |
$4,172,263 |
$1,504,068
$239,905 |
$2,428,290 |
| 9 |
$4,380,886 |
$1,581,258
$251,901 |
$2,547,727 |
| 10 |
$4,599,950 |
$1,662,312
$264,497 |
$2,673,141 |
| 11 |
$4,829,849 |
$1,747,375
$277,716 |
$2,804,758 |
| 12 |
$5,071,371 |
$1,836,738
$291,604 |
$2,943,029 |
| 13 |
$5,324,910 |
$1,930,547
$306,182 |
$3,088,181 |
| 14 |
$5,591,254 |
$2,029,094
$321,497 |
$3,240,663 |
| 15 |
$5,870,797 |
$2,132,525
$337,571 |
$3,400,701 |
| 16 |
$6,164,327 |
$2,241,131
$354,449 |
$3,568,747 |
| 17 |
$6,472,435 |
$2,355,131
$372,165 |
$3,745,139 |
| 18 |
$6,796,106 |
$2,474,890
$390,776 |
$3,930,440 |
| 19 |
$7,135,931 |
$2,600,625
$410,316 |
$4,124,990 |
| 20 |
$7,492,698 |
$2,732,629
$430,830 |
$4,329,239 |
| 21 |
$7,867,392 |
$2,871,265
$452,375 |
$4,543,752 |
| 22 |
$8,260,801 |
$3,016,827
$474,996 |
$4,768,978 |
| 23 |
$8,673,713 |
$3,169,604
$498,738 |
$5,005,371 |
| 24 |
$9,107,507 |
$3,330,108
$523,682 |
$5,253,717 |
| 25 |
$9,562,774 |
$3,498,557
$549,860 |
$5,514,357 |
| 26 |
$10,041,090 |
$3,675,534
$577,363 |
$5,788,193 |
| 27 |
$10,543,046 |
$3,861,257
$606,225 |
$6,075,564 |
| 28 |
$11,070,218 |
$4,056,311
$636,538 |
$6,377,369 |
| 29 |
$11,623,788 |
$4,261,132
$668,368 |
$6,694,288 |
| 30 |
$12,204,938 |
$4,476,157
$701,784 |
$7,026,997 |
|
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