The jackpot for the MEGA Millions draw on Fri Feb 7, 2025, is projected to be $94 Million, with an option for a cash payout of $42.3 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri Feb 7, 2025 |
|---|
| Draw Date | Fri Feb 7, 2025 | | Projected Jackpot | $94,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(10.75%) | $4,547,250 | | Net Lumpsum Payment | $22,141,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,414,794 |
$483,804
$152,090 |
$778,900 |
| 2 |
$1,485,576 |
$509,994
$159,699 |
$815,883 |
| 3 |
$1,559,836 |
$537,470
$167,682 |
$854,684 |
| 4 |
$1,637,856 |
$566,337
$176,070 |
$895,449 |
| 5 |
$1,719,730 |
$596,630
$184,871 |
$938,229 |
| 6 |
$1,805,740 |
$628,454
$194,117 |
$983,169 |
| 7 |
$1,895,980 |
$661,843
$203,818 |
$1,030,319 |
| 8 |
$1,990,826 |
$696,936
$214,014 |
$1,079,876 |
| 9 |
$2,090,372 |
$733,768
$224,715 |
$1,131,889 |
| 10 |
$2,194,900 |
$772,443
$235,952 |
$1,186,505 |
| 11 |
$2,304,598 |
$813,032
$247,744 |
$1,243,822 |
| 12 |
$2,419,842 |
$855,672
$260,133 |
$1,304,037 |
| 13 |
$2,540,820 |
$900,434
$273,138 |
$1,367,248 |
| 14 |
$2,667,908 |
$947,456
$286,800 |
$1,433,652 |
| 15 |
$2,801,294 |
$996,809
$301,139 |
$1,503,346 |
| 16 |
$2,941,354 |
$1,048,631
$316,196 |
$1,576,527 |
| 17 |
$3,088,370 |
$1,103,027
$332,000 |
$1,653,343 |
| 18 |
$3,242,812 |
$1,160,171
$348,602 |
$1,734,039 |
| 19 |
$3,404,962 |
$1,220,166
$366,033 |
$1,818,763 |
| 20 |
$3,575,196 |
$1,283,153
$384,334 |
$1,907,709 |
| 21 |
$3,753,984 |
$1,349,304
$403,553 |
$2,001,127 |
| 22 |
$3,941,702 |
$1,418,760
$423,733 |
$2,099,209 |
| 23 |
$4,138,726 |
$1,491,659
$444,913 |
$2,202,154 |
| 24 |
$4,345,714 |
$1,568,245
$467,164 |
$2,310,305 |
| 25 |
$4,562,948 |
$1,648,621
$490,517 |
$2,423,810 |
| 26 |
$4,791,180 |
$1,733,067
$515,052 |
$2,543,061 |
| 27 |
$5,030,692 |
$1,821,686
$540,799 |
$2,668,207 |
| 28 |
$5,282,236 |
$1,914,758
$567,840 |
$2,799,638 |
| 29 |
$5,546,376 |
$2,012,490
$596,235 |
$2,937,651 |
| 30 |
$5,823,676 |
$2,115,091
$626,045 |
$3,082,540 |
|
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