The jackpot for the MEGA Millions draw on Tue Aug 5, 2025, is projected to be $150 Million, with an option for a cash payout of $67.9 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
Indiana MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025 |
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Draw Date | Tue Aug 5, 2025 | Projected Jackpot | $150,000,000 | Cash Value | $67,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $67,900,000 | Federal Tax(24%) | $16,296,000 | Additional Federal Tax | $8,787,330 | State Tax(3.15%) | $2,138,850 | Net Lumpsum Payment | $40,677,820 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,257,650 |
$795,661 $71,116 |
$1,390,873 |
2 |
$2,370,600 |
$837,452 $74,674 |
$1,458,474 |
3 |
$2,489,100 |
$881,297 $78,407 |
$1,529,396 |
4 |
$2,613,600 |
$927,362 $82,328 |
$1,603,910 |
5 |
$2,744,250 |
$975,703 $86,444 |
$1,682,103 |
6 |
$2,881,500 |
$1,026,485 $90,767 |
$1,764,248 |
7 |
$3,025,500 |
$1,079,765 $95,303 |
$1,850,432 |
8 |
$3,176,850 |
$1,135,765 $100,071 |
$1,941,014 |
9 |
$3,335,700 |
$1,194,539 $105,075 |
$2,036,086 |
10 |
$3,502,500 |
$1,256,255 $110,329 |
$2,135,916 |
11 |
$3,677,550 |
$1,321,024 $115,843 |
$2,240,683 |
12 |
$3,861,450 |
$1,389,067 $121,636 |
$2,350,747 |
13 |
$4,054,500 |
$1,460,495 $127,717 |
$2,466,288 |
14 |
$4,257,300 |
$1,535,531 $134,105 |
$2,587,664 |
15 |
$4,470,150 |
$1,614,286 $140,810 |
$2,715,054 |
16 |
$4,693,650 |
$1,696,981 $147,850 |
$2,848,819 |
17 |
$4,928,250 |
$1,783,783 $155,240 |
$2,989,227 |
18 |
$5,174,700 |
$1,874,969 $163,003 |
$3,136,728 |
19 |
$5,433,450 |
$1,970,707 $171,154 |
$3,291,589 |
20 |
$5,705,100 |
$2,071,217 $179,711 |
$3,454,172 |
21 |
$5,990,400 |
$2,176,778 $188,698 |
$3,624,924 |
22 |
$6,289,950 |
$2,287,612 $198,133 |
$3,804,205 |
23 |
$6,604,350 |
$2,403,940 $208,037 |
$3,992,373 |
24 |
$6,934,650 |
$2,526,151 $218,441 |
$4,190,058 |
25 |
$7,281,300 |
$2,654,411 $229,361 |
$4,397,528 |
26 |
$7,645,500 |
$2,789,165 $240,833 |
$4,615,502 |
27 |
$8,027,700 |
$2,930,579 $252,873 |
$4,844,248 |
28 |
$8,429,100 |
$3,079,097 $265,517 |
$5,084,486 |
29 |
$8,850,600 |
$3,235,052 $278,794 |
$5,336,754 |
30 |
$9,293,100 |
$3,398,777 $292,733 |
$5,601,590 |
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