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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan 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(4.25%) | $850,000 | | Net Lumpsum Payment | $11,789,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$27,506 |
$419,895 |
| 2 |
$679,572 |
$211,772
$28,882 |
$438,918 |
| 3 |
$713,542 |
$224,341
$30,326 |
$458,875 |
| 4 |
$749,232 |
$237,546
$31,842 |
$479,844 |
| 5 |
$786,685 |
$251,404
$33,434 |
$501,847 |
| 6 |
$826,030 |
$265,961
$35,106 |
$524,963 |
| 7 |
$867,310 |
$281,235
$36,861 |
$549,214 |
| 8 |
$910,697 |
$297,288
$38,705 |
$574,704 |
| 9 |
$956,234 |
$314,137
$40,640 |
$601,457 |
| 10 |
$1,004,050 |
$331,829
$42,672 |
$629,549 |
| 11 |
$1,054,231 |
$350,396
$44,805 |
$659,030 |
| 12 |
$1,106,949 |
$369,902
$47,045 |
$690,002 |
| 13 |
$1,162,290 |
$390,378
$49,397 |
$722,515 |
| 14 |
$1,220,426 |
$411,888
$51,868 |
$756,670 |
| 15 |
$1,281,443 |
$434,464
$54,461 |
$792,518 |
| 16 |
$1,345,513 |
$458,170
$57,184 |
$830,159 |
| 17 |
$1,412,765 |
$483,053
$60,043 |
$869,669 |
| 18 |
$1,483,414 |
$509,194
$63,045 |
$911,175 |
| 19 |
$1,557,589 |
$536,638
$66,198 |
$954,753 |
| 20 |
$1,635,462 |
$565,451
$69,507 |
$1,000,504 |
| 21 |
$1,717,248 |
$595,712
$72,983 |
$1,048,553 |
| 22 |
$1,803,119 |
$627,484
$76,633 |
$1,099,002 |
| 23 |
$1,893,247 |
$660,832
$80,463 |
$1,151,952 |
| 24 |
$1,987,933 |
$695,866
$84,487 |
$1,207,580 |
| 25 |
$2,087,306 |
$732,634
$88,711 |
$1,265,961 |
| 26 |
$2,191,710 |
$771,263
$93,148 |
$1,327,299 |
| 27 |
$2,301,274 |
$811,802
$97,804 |
$1,391,668 |
| 28 |
$2,416,342 |
$854,377
$102,695 |
$1,459,270 |
| 29 |
$2,537,172 |
$899,084
$107,830 |
$1,530,258 |
| 30 |
$2,664,022 |
$946,019
$113,221 |
$1,604,782 |
|
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