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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $2,821,330 | | Net Lumpsum Payment | $55,115,340 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$91,027 |
$1,816,622 |
| 2 |
$3,113,388 |
$1,112,284
$95,581 |
$1,905,523 |
| 3 |
$3,269,018 |
$1,169,867
$100,359 |
$1,998,792 |
| 4 |
$3,432,528 |
$1,230,366
$105,379 |
$2,096,783 |
| 5 |
$3,604,115 |
$1,293,853
$110,646 |
$2,199,616 |
| 6 |
$3,784,370 |
$1,360,547
$116,180 |
$2,307,643 |
| 7 |
$3,973,490 |
$1,430,522
$121,986 |
$2,420,982 |
| 8 |
$4,172,263 |
$1,504,068
$128,088 |
$2,540,107 |
| 9 |
$4,380,886 |
$1,581,258
$134,493 |
$2,665,135 |
| 10 |
$4,599,950 |
$1,662,312
$141,218 |
$2,796,420 |
| 11 |
$4,829,849 |
$1,747,375
$148,276 |
$2,934,198 |
| 12 |
$5,071,371 |
$1,836,738
$155,691 |
$3,078,942 |
| 13 |
$5,324,910 |
$1,930,547
$163,475 |
$3,230,888 |
| 14 |
$5,591,254 |
$2,029,094
$171,651 |
$3,390,509 |
| 15 |
$5,870,797 |
$2,132,525
$180,233 |
$3,558,039 |
| 16 |
$6,164,327 |
$2,241,131
$189,245 |
$3,733,951 |
| 17 |
$6,472,435 |
$2,355,131
$198,704 |
$3,918,600 |
| 18 |
$6,796,106 |
$2,474,890
$208,640 |
$4,112,576 |
| 19 |
$7,135,931 |
$2,600,625
$219,073 |
$4,316,233 |
| 20 |
$7,492,698 |
$2,732,629
$230,026 |
$4,530,043 |
| 21 |
$7,867,392 |
$2,871,265
$241,529 |
$4,754,598 |
| 22 |
$8,260,801 |
$3,016,827
$253,607 |
$4,990,367 |
| 23 |
$8,673,713 |
$3,169,604
$266,283 |
$5,237,826 |
| 24 |
$9,107,507 |
$3,330,108
$279,600 |
$5,497,799 |
| 25 |
$9,562,774 |
$3,498,557
$293,577 |
$5,770,640 |
| 26 |
$10,041,090 |
$3,675,534
$308,261 |
$6,057,295 |
| 27 |
$10,543,046 |
$3,861,257
$323,672 |
$6,358,117 |
| 28 |
$11,070,218 |
$4,056,311
$339,856 |
$6,674,051 |
| 29 |
$11,623,788 |
$4,261,132
$356,850 |
$7,005,806 |
| 30 |
$12,204,938 |
$4,476,157
$374,692 |
$7,354,089 |
|
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