The jackpot for the MEGA Millions draw on Tue Jul 1, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 1, 2025 |
|---|
| Draw Date | Tue Jul 1, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(8.95%) | $2,004,800 | | Net Lumpsum Payment | $12,146,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$67,353 |
$446,423 |
| 2 |
$790,200 |
$252,704
$70,723 |
$466,773 |
| 3 |
$829,700 |
$267,319
$74,258 |
$488,123 |
| 4 |
$871,200 |
$282,674
$77,972 |
$510,554 |
| 5 |
$914,750 |
$298,788
$81,870 |
$534,092 |
| 6 |
$960,500 |
$315,715
$85,965 |
$558,820 |
| 7 |
$1,008,500 |
$333,475
$90,261 |
$584,764 |
| 8 |
$1,058,950 |
$352,142
$94,776 |
$612,032 |
| 9 |
$1,111,900 |
$371,733
$99,515 |
$640,652 |
| 10 |
$1,167,500 |
$392,305
$104,491 |
$670,704 |
| 11 |
$1,225,850 |
$413,895
$109,714 |
$702,241 |
| 12 |
$1,287,150 |
$436,576
$115,200 |
$735,374 |
| 13 |
$1,351,500 |
$460,385
$120,959 |
$770,156 |
| 14 |
$1,419,100 |
$485,397
$127,009 |
$806,694 |
| 15 |
$1,490,050 |
$511,649
$133,359 |
$845,042 |
| 16 |
$1,564,550 |
$539,214
$140,027 |
$885,309 |
| 17 |
$1,642,750 |
$568,148
$147,026 |
$927,576 |
| 18 |
$1,724,900 |
$598,543
$154,379 |
$971,978 |
| 19 |
$1,811,150 |
$630,456
$162,098 |
$1,018,596 |
| 20 |
$1,901,700 |
$663,959
$170,202 |
$1,067,539 |
| 21 |
$1,996,800 |
$699,146
$178,714 |
$1,118,940 |
| 22 |
$2,096,650 |
$736,091
$187,650 |
$1,172,909 |
| 23 |
$2,201,450 |
$774,867
$197,030 |
$1,229,553 |
| 24 |
$2,311,550 |
$815,604
$206,884 |
$1,289,062 |
| 25 |
$2,427,100 |
$858,357
$217,225 |
$1,351,518 |
| 26 |
$2,548,500 |
$903,275
$228,091 |
$1,417,134 |
| 27 |
$2,675,900 |
$950,413
$239,493 |
$1,485,994 |
| 28 |
$2,809,700 |
$999,919
$251,468 |
$1,558,313 |
| 29 |
$2,950,200 |
$1,051,904
$264,043 |
$1,634,253 |
| 30 |
$3,097,700 |
$1,106,479
$277,244 |
$1,713,977 |
|
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