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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.
Washington MEGA Millions Jackpot/Cash Option for Fri Apr 4, 2025 |
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Draw Date | Fri Apr 4, 2025 | Projected Jackpot | $43,000,000 | Cash Value | $20,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $20,000,000 | Federal Tax(24%) | $4,800,000 | Additional Federal Tax | $2,560,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $12,639,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$647,193 |
$199,792 $0 |
$447,401 |
2 |
$679,572 |
$211,772 $0 |
$467,800 |
3 |
$713,542 |
$224,341 $0 |
$489,201 |
4 |
$749,232 |
$237,546 $0 |
$511,686 |
5 |
$786,685 |
$251,404 $0 |
$535,281 |
6 |
$826,030 |
$265,961 $0 |
$560,069 |
7 |
$867,310 |
$281,235 $0 |
$586,075 |
8 |
$910,697 |
$297,288 $0 |
$613,409 |
9 |
$956,234 |
$314,137 $0 |
$642,097 |
10 |
$1,004,050 |
$331,829 $0 |
$672,221 |
11 |
$1,054,231 |
$350,396 $0 |
$703,835 |
12 |
$1,106,949 |
$369,902 $0 |
$737,047 |
13 |
$1,162,290 |
$390,378 $0 |
$771,912 |
14 |
$1,220,426 |
$411,888 $0 |
$808,538 |
15 |
$1,281,443 |
$434,464 $0 |
$846,979 |
16 |
$1,345,513 |
$458,170 $0 |
$887,343 |
17 |
$1,412,765 |
$483,053 $0 |
$929,712 |
18 |
$1,483,414 |
$509,194 $0 |
$974,220 |
19 |
$1,557,589 |
$536,638 $0 |
$1,020,951 |
20 |
$1,635,462 |
$565,451 $0 |
$1,070,011 |
21 |
$1,717,248 |
$595,712 $0 |
$1,121,536 |
22 |
$1,803,119 |
$627,484 $0 |
$1,175,635 |
23 |
$1,893,247 |
$660,832 $0 |
$1,232,415 |
24 |
$1,987,933 |
$695,866 $0 |
$1,292,067 |
25 |
$2,087,306 |
$732,634 $0 |
$1,354,672 |
26 |
$2,191,710 |
$771,263 $0 |
$1,420,447 |
27 |
$2,301,274 |
$811,802 $0 |
$1,489,472 |
28 |
$2,416,342 |
$854,377 $0 |
$1,561,965 |
29 |
$2,537,172 |
$899,084 $0 |
$1,638,088 |
30 |
$2,664,022 |
$946,019 $0 |
$1,718,003 |
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