Jackpot Analysis Michigan Mega Millions

Jackpot Analysis for Michigan Mega Millions
The jackpot for the MEGA Millions draw on Fri Oct 24, 2025, is projected to be $680 Million, with an option for a cash payout of $318.2 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.

Michigan MEGA Millions Jackpot/Cash Option for Fri Oct 24, 2025
Draw DateFri Oct 24, 2025
Projected Jackpot$680,000,000
Cash Value$318,200,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$318,200,000
Federal Tax(24%)$76,368,000
Additional Federal Tax$41,326,330
State Tax(4.25%)$13,523,500
Net Lumpsum Payment$186,982,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $10,234,680 $3,747,162
$434,974
$6,052,544
2 $10,746,720 $3,936,617
$456,736
$6,353,367
3 $11,283,920 $4,135,381
$479,567
$6,668,972
4 $11,848,320 $4,344,209
$503,554
$7,000,557
5 $12,440,600 $4,563,352
$528,726
$7,348,522
6 $13,062,800 $4,793,566
$555,169
$7,714,065
7 $13,715,600 $5,035,102
$582,913
$8,097,585
8 $14,401,720 $5,288,967
$612,073
$8,500,680
9 $15,121,840 $5,555,411
$642,678
$8,923,751
10 $15,878,000 $5,835,190
$674,815
$9,367,995
11 $16,671,560 $6,128,808
$708,541
$9,834,211
12 $17,505,240 $6,437,269
$743,973
$10,323,998
13 $18,380,400 $6,761,078
$781,167
$10,838,155
14 $19,299,760 $7,101,242
$820,240
$11,378,278
15 $20,264,680 $7,458,262
$861,249
$11,945,169
16 $21,277,880 $7,833,146
$904,310
$12,540,424
17 $22,341,400 $8,226,648
$949,510
$13,165,242
18 $23,458,640 $8,640,027
$996,992
$13,821,621
19 $24,631,640 $9,074,037
$1,046,845
$14,510,758
20 $25,863,120 $9,529,685
$1,099,183
$15,234,252
21 $27,156,480 $10,008,228
$1,154,150
$15,994,102
22 $28,514,440 $10,510,673
$1,211,864
$16,791,903
23 $29,939,720 $11,038,027
$1,272,438
$17,629,255
24 $31,437,080 $11,592,050
$1,336,076
$18,508,954
25 $33,008,560 $12,173,498
$1,402,864
$19,432,198
26 $34,659,600 $12,784,382
$1,473,033
$20,402,185
27 $36,392,240 $13,425,459
$1,546,670
$21,420,111
28 $38,211,920 $14,098,741
$1,624,007
$22,489,172
29 $40,122,720 $14,805,737
$1,705,216
$23,611,767
30 $42,128,720 $15,547,957
$1,790,471
$24,790,292