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 Date | Fri 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 |
|
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