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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
Louisiana MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025 |
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Draw Date | Tue Apr 29, 2025 | Projected Jackpot | $70,000,000 | Cash Value | $31,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $31,800,000 | Federal Tax(24%) | $7,632,000 | Additional Federal Tax | $4,094,330 | State Tax(4.75%) | $1,510,500 | Net Lumpsum Payment | $18,563,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,053,570 |
$350,151 $50,045 |
$653,374 |
2 |
$1,106,280 |
$369,654 $52,548 |
$684,078 |
3 |
$1,161,580 |
$390,115 $55,175 |
$716,290 |
4 |
$1,219,680 |
$411,612 $57,935 |
$750,133 |
5 |
$1,280,650 |
$434,171 $60,831 |
$785,648 |
6 |
$1,344,700 |
$457,869 $63,873 |
$822,958 |
7 |
$1,411,900 |
$482,733 $67,065 |
$862,102 |
8 |
$1,482,530 |
$508,866 $70,420 |
$903,244 |
9 |
$1,556,660 |
$536,295 $73,941 |
$946,424 |
10 |
$1,634,500 |
$565,095 $77,639 |
$991,766 |
11 |
$1,716,190 |
$595,321 $81,519 |
$1,039,350 |
12 |
$1,802,010 |
$627,074 $85,595 |
$1,089,341 |
13 |
$1,892,100 |
$660,407 $89,875 |
$1,141,818 |
14 |
$1,986,740 |
$695,424 $94,370 |
$1,196,946 |
15 |
$2,086,070 |
$732,176 $99,088 |
$1,254,806 |
16 |
$2,190,370 |
$770,767 $104,043 |
$1,315,560 |
17 |
$2,299,850 |
$811,275 $109,243 |
$1,379,332 |
18 |
$2,414,860 |
$853,829 $114,706 |
$1,446,325 |
19 |
$2,535,610 |
$898,506 $120,441 |
$1,516,663 |
20 |
$2,662,380 |
$945,411 $126,463 |
$1,590,506 |
21 |
$2,795,520 |
$994,673 $132,787 |
$1,668,060 |
22 |
$2,935,310 |
$1,046,395 $139,427 |
$1,749,488 |
23 |
$3,082,030 |
$1,100,681 $146,396 |
$1,834,953 |
24 |
$3,236,170 |
$1,157,713 $153,718 |
$1,924,739 |
25 |
$3,397,940 |
$1,217,568 $161,402 |
$2,018,970 |
26 |
$3,567,900 |
$1,280,453 $169,475 |
$2,117,972 |
27 |
$3,746,260 |
$1,346,447 $177,947 |
$2,221,866 |
28 |
$3,933,580 |
$1,415,755 $186,845 |
$2,330,980 |
29 |
$4,130,280 |
$1,488,534 $196,188 |
$2,445,558 |
30 |
$4,336,780 |
$1,564,939 $205,997 |
$2,565,844 |
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