Jackpot Analysis Michigan Mega Millions

Jackpot Analysis for Michigan Mega Millions
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 Michigan residents, the state will deduct 4.25% from your lottery earnings.

Michigan MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025
Draw DateTue 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(4.25%)$1,351,500
Net Lumpsum Payment$18,722,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,053,570 $350,151
$44,777
$658,642
2 $1,106,280 $369,654
$47,017
$689,609
3 $1,161,580 $390,115
$49,367
$722,098
4 $1,219,680 $411,612
$51,836
$756,232
5 $1,280,650 $434,171
$54,428
$792,051
6 $1,344,700 $457,869
$57,150
$829,681
7 $1,411,900 $482,733
$60,006
$869,161
8 $1,482,530 $508,866
$63,008
$910,656
9 $1,556,660 $536,295
$66,158
$954,207
10 $1,634,500 $565,095
$69,466
$999,939
11 $1,716,190 $595,321
$72,938
$1,047,931
12 $1,802,010 $627,074
$76,585
$1,098,351
13 $1,892,100 $660,407
$80,414
$1,151,279
14 $1,986,740 $695,424
$84,436
$1,206,880
15 $2,086,070 $732,176
$88,658
$1,265,236
16 $2,190,370 $770,767
$93,091
$1,326,512
17 $2,299,850 $811,275
$97,744
$1,390,831
18 $2,414,860 $853,829
$102,632
$1,458,399
19 $2,535,610 $898,506
$107,763
$1,529,341
20 $2,662,380 $945,411
$113,151
$1,603,818
21 $2,795,520 $994,673
$118,810
$1,682,037
22 $2,935,310 $1,046,395
$124,751
$1,764,164
23 $3,082,030 $1,100,681
$130,986
$1,850,363
24 $3,236,170 $1,157,713
$137,537
$1,940,920
25 $3,397,940 $1,217,568
$144,412
$2,035,960
26 $3,567,900 $1,280,453
$151,636
$2,135,811
27 $3,746,260 $1,346,447
$159,216
$2,240,597
28 $3,933,580 $1,415,755
$167,177
$2,350,648
29 $4,130,280 $1,488,534
$175,537
$2,466,209
30 $4,336,780 $1,564,939
$184,313
$2,587,528