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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(8.95%) | $2,846,100 | | Net Lumpsum Payment | $17,227,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$94,295 |
$609,124 |
| 2 |
$1,106,280 |
$369,654
$99,012 |
$637,614 |
| 3 |
$1,161,580 |
$390,115
$103,961 |
$667,504 |
| 4 |
$1,219,680 |
$411,612
$109,161 |
$698,907 |
| 5 |
$1,280,650 |
$434,171
$114,618 |
$731,861 |
| 6 |
$1,344,700 |
$457,869
$120,351 |
$766,480 |
| 7 |
$1,411,900 |
$482,733
$126,365 |
$802,802 |
| 8 |
$1,482,530 |
$508,866
$132,686 |
$840,978 |
| 9 |
$1,556,660 |
$536,295
$139,321 |
$881,044 |
| 10 |
$1,634,500 |
$565,095
$146,288 |
$923,117 |
| 11 |
$1,716,190 |
$595,321
$153,599 |
$967,270 |
| 12 |
$1,802,010 |
$627,074
$161,280 |
$1,013,656 |
| 13 |
$1,892,100 |
$660,407
$169,343 |
$1,062,350 |
| 14 |
$1,986,740 |
$695,424
$177,813 |
$1,113,503 |
| 15 |
$2,086,070 |
$732,176
$186,703 |
$1,167,191 |
| 16 |
$2,190,370 |
$770,767
$196,038 |
$1,223,565 |
| 17 |
$2,299,850 |
$811,275
$205,837 |
$1,282,738 |
| 18 |
$2,414,860 |
$853,829
$216,130 |
$1,344,901 |
| 19 |
$2,535,610 |
$898,506
$226,937 |
$1,410,167 |
| 20 |
$2,662,380 |
$945,411
$238,283 |
$1,478,686 |
| 21 |
$2,795,520 |
$994,673
$250,199 |
$1,550,648 |
| 22 |
$2,935,310 |
$1,046,395
$262,710 |
$1,626,205 |
| 23 |
$3,082,030 |
$1,100,681
$275,842 |
$1,705,507 |
| 24 |
$3,236,170 |
$1,157,713
$289,637 |
$1,788,820 |
| 25 |
$3,397,940 |
$1,217,568
$304,116 |
$1,876,256 |
| 26 |
$3,567,900 |
$1,280,453
$319,327 |
$1,968,120 |
| 27 |
$3,746,260 |
$1,346,447
$335,290 |
$2,064,523 |
| 28 |
$3,933,580 |
$1,415,755
$352,055 |
$2,165,770 |
| 29 |
$4,130,280 |
$1,488,534
$369,660 |
$2,272,086 |
| 30 |
$4,336,780 |
$1,564,939
$388,142 |
$2,383,699 |
|
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