Jackpot Analysis California Mega Millions

Jackpot Analysis for California Mega Millions
The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 California, the bright side is you won't have to pay any state taxes on your lottery prize.

California MEGA Millions Jackpot/Cash Option for Tue Oct 21, 2025
Draw DateTue Oct 21, 2025
Projected Jackpot$650,000,000
Cash Value$304,100,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$304,100,000
Federal Tax(24%)$72,984,000
Additional Federal Tax$39,493,330
State Tax(0%)$0
Net Lumpsum Payment$191,622,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $9,783,150 $3,580,096
$0
$6,203,054
2 $10,272,600 $3,761,192
$0
$6,511,408
3 $10,786,100 $3,951,187
$0
$6,834,913
4 $11,325,600 $4,150,802
$0
$7,174,798
5 $11,891,750 $4,360,278
$0
$7,531,472
6 $12,486,500 $4,580,335
$0
$7,906,165
7 $13,110,500 $4,811,215
$0
$8,299,285
8 $13,766,350 $5,053,880
$0
$8,712,470
9 $14,454,700 $5,308,569
$0
$9,146,131
10 $15,177,500 $5,576,005
$0
$9,601,495
11 $15,936,050 $5,856,669
$0
$10,079,381
12 $16,732,950 $6,151,522
$0
$10,581,428
13 $17,569,500 $6,461,045
$0
$11,108,455
14 $18,448,300 $6,786,201
$0
$11,662,099
15 $19,370,650 $7,127,471
$0
$12,243,179
16 $20,339,150 $7,485,816
$0
$12,853,334
17 $21,355,750 $7,861,958
$0
$13,493,792
18 $22,423,700 $8,257,099
$0
$14,166,601
19 $23,544,950 $8,671,962
$0
$14,872,988
20 $24,722,100 $9,107,507
$0
$15,614,593
21 $25,958,400 $9,564,938
$0
$16,393,462
22 $27,256,450 $10,045,217
$0
$17,211,233
23 $28,618,850 $10,549,305
$0
$18,069,545
24 $30,050,150 $11,078,886
$0
$18,971,264
25 $31,552,300 $11,634,681
$0
$19,917,619
26 $33,130,500 $12,218,615
$0
$20,911,885
27 $34,786,700 $12,831,409
$0
$21,955,291
28 $36,526,100 $13,474,987
$0
$23,051,113
29 $38,352,600 $14,150,792
$0
$24,201,808
30 $40,270,100 $14,860,267
$0
$25,409,833