The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Fri Aug 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(8.95%) | $11,151,700 | | Net Lumpsum Payment | $67,385,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$373,137 |
$2,293,083 |
| 2 |
$4,377,708 |
$1,580,082
$391,805 |
$2,405,821 |
| 3 |
$4,596,538 |
$1,661,049
$411,390 |
$2,524,099 |
| 4 |
$4,826,448 |
$1,746,116
$431,967 |
$2,648,365 |
| 5 |
$5,067,715 |
$1,835,385
$453,560 |
$2,778,770 |
| 6 |
$5,321,170 |
$1,929,163
$476,245 |
$2,915,762 |
| 7 |
$5,587,090 |
$2,027,554
$500,045 |
$3,059,491 |
| 8 |
$5,866,583 |
$2,130,966
$525,059 |
$3,210,558 |
| 9 |
$6,159,926 |
$2,239,503
$551,313 |
$3,369,110 |
| 10 |
$6,467,950 |
$2,353,472
$578,882 |
$3,535,596 |
| 11 |
$6,791,209 |
$2,473,078
$607,813 |
$3,710,318 |
| 12 |
$7,130,811 |
$2,598,730
$638,208 |
$3,893,873 |
| 13 |
$7,487,310 |
$2,730,635
$670,114 |
$4,086,561 |
| 14 |
$7,861,814 |
$2,869,202
$703,632 |
$4,288,980 |
| 15 |
$8,254,877 |
$3,014,635
$738,811 |
$4,501,431 |
| 16 |
$8,667,607 |
$3,167,345
$775,751 |
$4,724,511 |
| 17 |
$9,100,835 |
$3,327,639
$814,525 |
$4,958,671 |
| 18 |
$9,555,946 |
$3,496,030
$855,257 |
$5,204,659 |
| 19 |
$10,033,771 |
$3,672,826
$898,023 |
$5,462,922 |
| 20 |
$10,535,418 |
$3,858,435
$942,920 |
$5,734,063 |
| 21 |
$11,062,272 |
$4,053,371
$990,073 |
$6,018,828 |
| 22 |
$11,615,441 |
$4,258,044
$1,039,582 |
$6,317,815 |
| 23 |
$12,196,033 |
$4,472,863
$1,091,545 |
$6,631,625 |
| 24 |
$12,805,987 |
$4,698,546
$1,146,136 |
$6,961,305 |
| 25 |
$13,446,134 |
$4,935,400
$1,203,429 |
$7,307,305 |
| 26 |
$14,118,690 |
$5,184,246
$1,263,623 |
$7,670,821 |
| 27 |
$14,824,486 |
$5,445,390
$1,326,791 |
$8,052,305 |
| 28 |
$15,565,738 |
$5,719,653
$1,393,134 |
$8,452,951 |
| 29 |
$16,344,108 |
$6,007,650
$1,462,798 |
$8,873,660 |
| 30 |
$17,161,258 |
$6,309,996
$1,535,933 |
$9,315,329 |
|
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