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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
Maryland 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(8.95%) | $6,077,050 | Net Lumpsum Payment | $36,739,620 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,257,650 |
$795,661 $202,060 |
$1,259,929 |
2 |
$2,370,600 |
$837,452 $212,169 |
$1,320,979 |
3 |
$2,489,100 |
$881,297 $222,774 |
$1,385,029 |
4 |
$2,613,600 |
$927,362 $233,917 |
$1,452,321 |
5 |
$2,744,250 |
$975,703 $245,610 |
$1,522,937 |
6 |
$2,881,500 |
$1,026,485 $257,894 |
$1,597,121 |
7 |
$3,025,500 |
$1,079,765 $270,782 |
$1,674,953 |
8 |
$3,176,850 |
$1,135,765 $284,328 |
$1,756,757 |
9 |
$3,335,700 |
$1,194,539 $298,545 |
$1,842,616 |
10 |
$3,502,500 |
$1,256,255 $313,474 |
$1,932,771 |
11 |
$3,677,550 |
$1,321,024 $329,141 |
$2,027,385 |
12 |
$3,861,450 |
$1,389,067 $345,600 |
$2,126,783 |
13 |
$4,054,500 |
$1,460,495 $362,878 |
$2,231,127 |
14 |
$4,257,300 |
$1,535,531 $381,028 |
$2,340,741 |
15 |
$4,470,150 |
$1,614,286 $400,078 |
$2,455,786 |
16 |
$4,693,650 |
$1,696,981 $420,082 |
$2,576,587 |
17 |
$4,928,250 |
$1,783,783 $441,078 |
$2,703,389 |
18 |
$5,174,700 |
$1,874,969 $463,136 |
$2,836,595 |
19 |
$5,433,450 |
$1,970,707 $486,294 |
$2,976,449 |
20 |
$5,705,100 |
$2,071,217 $510,606 |
$3,123,277 |
21 |
$5,990,400 |
$2,176,778 $536,141 |
$3,277,481 |
22 |
$6,289,950 |
$2,287,612 $562,951 |
$3,439,387 |
23 |
$6,604,350 |
$2,403,940 $591,089 |
$3,609,321 |
24 |
$6,934,650 |
$2,526,151 $620,651 |
$3,787,848 |
25 |
$7,281,300 |
$2,654,411 $651,676 |
$3,975,213 |
26 |
$7,645,500 |
$2,789,165 $684,272 |
$4,172,063 |
27 |
$8,027,700 |
$2,930,579 $718,479 |
$4,378,642 |
28 |
$8,429,100 |
$3,079,097 $754,404 |
$4,595,599 |
29 |
$8,850,600 |
$3,235,052 $792,129 |
$4,823,419 |
30 |
$9,293,100 |
$3,398,777 $831,732 |
$5,062,591 |
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