The jackpot for the MEGA Millions draw on Tue Jul 15, 2025, is projected to be $90 Million, with an option for a cash payout of $39.9 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 Jul 15, 2025 |
---|
Draw Date | Tue Jul 15, 2025 | Projected Jackpot | $90,000,000 | Cash Value | $39,900,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $39,900,000 | Federal Tax(24%) | $9,576,000 | Additional Federal Tax | $5,147,330 | State Tax(8.95%) | $3,571,050 | Net Lumpsum Payment | $21,605,620 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,354,590 |
$461,529 $121,236 |
$771,825 |
2 |
$1,422,360 |
$486,604 $127,301 |
$808,455 |
3 |
$1,493,460 |
$512,911 $133,665 |
$846,884 |
4 |
$1,568,160 |
$540,550 $140,350 |
$887,260 |
5 |
$1,646,550 |
$569,554 $147,366 |
$929,630 |
6 |
$1,728,900 |
$600,023 $154,737 |
$974,140 |
7 |
$1,815,300 |
$631,991 $162,469 |
$1,020,840 |
8 |
$1,906,110 |
$665,591 $170,597 |
$1,069,922 |
9 |
$2,001,420 |
$700,856 $179,127 |
$1,121,437 |
10 |
$2,101,500 |
$737,885 $188,084 |
$1,175,531 |
11 |
$2,206,530 |
$776,746 $197,484 |
$1,232,300 |
12 |
$2,316,870 |
$817,572 $207,360 |
$1,291,938 |
13 |
$2,432,700 |
$860,429 $217,727 |
$1,354,544 |
14 |
$2,554,380 |
$905,451 $228,617 |
$1,420,312 |
15 |
$2,682,090 |
$952,704 $240,047 |
$1,489,339 |
16 |
$2,816,190 |
$1,002,321 $252,049 |
$1,561,820 |
17 |
$2,956,950 |
$1,054,402 $264,647 |
$1,637,901 |
18 |
$3,104,820 |
$1,109,114 $277,881 |
$1,717,825 |
19 |
$3,260,070 |
$1,166,556 $291,776 |
$1,801,738 |
20 |
$3,423,060 |
$1,226,863 $306,364 |
$1,889,833 |
21 |
$3,594,240 |
$1,290,199 $321,684 |
$1,982,357 |
22 |
$3,773,970 |
$1,356,699 $337,770 |
$2,079,501 |
23 |
$3,962,610 |
$1,426,496 $354,654 |
$2,181,460 |
24 |
$4,160,790 |
$1,499,823 $372,391 |
$2,288,576 |
25 |
$4,368,780 |
$1,576,779 $391,006 |
$2,400,995 |
26 |
$4,587,300 |
$1,657,631 $410,563 |
$2,519,106 |
27 |
$4,816,620 |
$1,742,480 $431,087 |
$2,643,053 |
28 |
$5,057,460 |
$1,831,591 $452,643 |
$2,773,226 |
29 |
$5,310,360 |
$1,925,164 $475,277 |
$2,909,919 |
30 |
$5,575,860 |
$2,023,399 $499,039 |
$3,053,422 |
|
|