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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $4,365,250 | | Net Lumpsum Payment | $53,571,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$140,840 |
$1,766,809 |
| 2 |
$3,113,388 |
$1,112,284
$147,886 |
$1,853,218 |
| 3 |
$3,269,018 |
$1,169,867
$155,278 |
$1,943,873 |
| 4 |
$3,432,528 |
$1,230,366
$163,045 |
$2,039,117 |
| 5 |
$3,604,115 |
$1,293,853
$171,195 |
$2,139,067 |
| 6 |
$3,784,370 |
$1,360,547
$179,758 |
$2,244,065 |
| 7 |
$3,973,490 |
$1,430,522
$188,741 |
$2,354,227 |
| 8 |
$4,172,263 |
$1,504,068
$198,182 |
$2,470,013 |
| 9 |
$4,380,886 |
$1,581,258
$208,092 |
$2,591,536 |
| 10 |
$4,599,950 |
$1,662,312
$218,498 |
$2,719,140 |
| 11 |
$4,829,849 |
$1,747,375
$229,418 |
$2,853,056 |
| 12 |
$5,071,371 |
$1,836,738
$240,890 |
$2,993,743 |
| 13 |
$5,324,910 |
$1,930,547
$252,933 |
$3,141,430 |
| 14 |
$5,591,254 |
$2,029,094
$265,585 |
$3,296,575 |
| 15 |
$5,870,797 |
$2,132,525
$278,863 |
$3,459,409 |
| 16 |
$6,164,327 |
$2,241,131
$292,806 |
$3,630,390 |
| 17 |
$6,472,435 |
$2,355,131
$307,441 |
$3,809,863 |
| 18 |
$6,796,106 |
$2,474,890
$322,815 |
$3,998,401 |
| 19 |
$7,135,931 |
$2,600,625
$338,957 |
$4,196,349 |
| 20 |
$7,492,698 |
$2,732,629
$355,903 |
$4,404,166 |
| 21 |
$7,867,392 |
$2,871,265
$373,701 |
$4,622,426 |
| 22 |
$8,260,801 |
$3,016,827
$392,388 |
$4,851,586 |
| 23 |
$8,673,713 |
$3,169,604
$412,001 |
$5,092,108 |
| 24 |
$9,107,507 |
$3,330,108
$432,607 |
$5,344,792 |
| 25 |
$9,562,774 |
$3,498,557
$454,232 |
$5,609,985 |
| 26 |
$10,041,090 |
$3,675,534
$476,952 |
$5,888,604 |
| 27 |
$10,543,046 |
$3,861,257
$500,795 |
$6,180,994 |
| 28 |
$11,070,218 |
$4,056,311
$525,835 |
$6,488,072 |
| 29 |
$11,623,788 |
$4,261,132
$552,130 |
$6,810,526 |
| 30 |
$12,204,938 |
$4,476,157
$579,735 |
$7,149,046 |
|
|
