The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Fri Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(8.95%) | $1,790,000 | | Net Lumpsum Payment | $10,849,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$57,924 |
$389,477 |
| 2 |
$679,572 |
$211,772
$60,822 |
$406,978 |
| 3 |
$713,542 |
$224,341
$63,862 |
$425,339 |
| 4 |
$749,232 |
$237,546
$67,056 |
$444,630 |
| 5 |
$786,685 |
$251,404
$70,408 |
$464,873 |
| 6 |
$826,030 |
$265,961
$73,930 |
$486,139 |
| 7 |
$867,310 |
$281,235
$77,624 |
$508,451 |
| 8 |
$910,697 |
$297,288
$81,507 |
$531,902 |
| 9 |
$956,234 |
$314,137
$85,583 |
$556,514 |
| 10 |
$1,004,050 |
$331,829
$89,862 |
$582,359 |
| 11 |
$1,054,231 |
$350,396
$94,354 |
$609,481 |
| 12 |
$1,106,949 |
$369,902
$99,072 |
$637,975 |
| 13 |
$1,162,290 |
$390,378
$104,025 |
$667,887 |
| 14 |
$1,220,426 |
$411,888
$109,228 |
$699,310 |
| 15 |
$1,281,443 |
$434,464
$114,689 |
$732,290 |
| 16 |
$1,345,513 |
$458,170
$120,423 |
$766,920 |
| 17 |
$1,412,765 |
$483,053
$126,442 |
$803,270 |
| 18 |
$1,483,414 |
$509,194
$132,766 |
$841,454 |
| 19 |
$1,557,589 |
$536,638
$139,404 |
$881,547 |
| 20 |
$1,635,462 |
$565,451
$146,374 |
$923,637 |
| 21 |
$1,717,248 |
$595,712
$153,694 |
$967,842 |
| 22 |
$1,803,119 |
$627,484
$161,379 |
$1,014,256 |
| 23 |
$1,893,247 |
$660,832
$169,446 |
$1,062,969 |
| 24 |
$1,987,933 |
$695,866
$177,920 |
$1,114,147 |
| 25 |
$2,087,306 |
$732,634
$186,814 |
$1,167,858 |
| 26 |
$2,191,710 |
$771,263
$196,158 |
$1,224,289 |
| 27 |
$2,301,274 |
$811,802
$205,964 |
$1,283,508 |
| 28 |
$2,416,342 |
$854,377
$216,263 |
$1,345,702 |
| 29 |
$2,537,172 |
$899,084
$227,077 |
$1,411,011 |
| 30 |
$2,664,022 |
$946,019
$238,430 |
$1,479,573 |
|
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