The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana MEGA Millions Jackpot/Cash Option for Fri Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(6.75%) | $6,203,250 | | Net Lumpsum Payment | $51,733,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$200,141 |
$1,707,508 |
| 2 |
$3,113,388 |
$1,112,284
$210,154 |
$1,790,950 |
| 3 |
$3,269,018 |
$1,169,867
$220,659 |
$1,878,492 |
| 4 |
$3,432,528 |
$1,230,366
$231,696 |
$1,970,466 |
| 5 |
$3,604,115 |
$1,293,853
$243,278 |
$2,066,984 |
| 6 |
$3,784,370 |
$1,360,547
$255,445 |
$2,168,378 |
| 7 |
$3,973,490 |
$1,430,522
$268,211 |
$2,274,757 |
| 8 |
$4,172,263 |
$1,504,068
$281,628 |
$2,386,567 |
| 9 |
$4,380,886 |
$1,581,258
$295,710 |
$2,503,918 |
| 10 |
$4,599,950 |
$1,662,312
$310,497 |
$2,627,141 |
| 11 |
$4,829,849 |
$1,747,375
$326,015 |
$2,756,459 |
| 12 |
$5,071,371 |
$1,836,738
$342,318 |
$2,892,315 |
| 13 |
$5,324,910 |
$1,930,547
$359,431 |
$3,034,932 |
| 14 |
$5,591,254 |
$2,029,094
$377,410 |
$3,184,750 |
| 15 |
$5,870,797 |
$2,132,525
$396,279 |
$3,341,993 |
| 16 |
$6,164,327 |
$2,241,131
$416,092 |
$3,507,104 |
| 17 |
$6,472,435 |
$2,355,131
$436,889 |
$3,680,415 |
| 18 |
$6,796,106 |
$2,474,890
$458,737 |
$3,862,479 |
| 19 |
$7,135,931 |
$2,600,625
$481,675 |
$4,053,631 |
| 20 |
$7,492,698 |
$2,732,629
$505,757 |
$4,254,312 |
| 21 |
$7,867,392 |
$2,871,265
$531,049 |
$4,465,078 |
| 22 |
$8,260,801 |
$3,016,827
$557,604 |
$4,686,370 |
| 23 |
$8,673,713 |
$3,169,604
$585,476 |
$4,918,633 |
| 24 |
$9,107,507 |
$3,330,108
$614,757 |
$5,162,642 |
| 25 |
$9,562,774 |
$3,498,557
$645,487 |
$5,418,730 |
| 26 |
$10,041,090 |
$3,675,534
$677,774 |
$5,687,782 |
| 27 |
$10,543,046 |
$3,861,257
$711,656 |
$5,970,133 |
| 28 |
$11,070,218 |
$4,056,311
$747,240 |
$6,266,667 |
| 29 |
$11,623,788 |
$4,261,132
$784,606 |
$6,578,050 |
| 30 |
$12,204,938 |
$4,476,157
$823,833 |
$6,904,948 |
|
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