The jackpot for the MEGA Millions draw on Fri Jul 25, 2025, is projected to be $120 Million, with an option for a cash payout of $52.8 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
North Carolina MEGA Millions Jackpot/Cash Option for Fri Jul 25, 2025 |
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Draw Date | Fri Jul 25, 2025 | Projected Jackpot | $120,000,000 | Cash Value | $52,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $52,800,000 | Federal Tax(24%) | $12,672,000 | Additional Federal Tax | $6,824,330 | State Tax(4.75%) | $2,508,000 | Net Lumpsum Payment | $30,795,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,806,120 |
$628,595 $85,791 |
$1,091,734 |
2 |
$1,896,480 |
$662,028 $90,083 |
$1,144,369 |
3 |
$1,991,280 |
$697,104 $94,586 |
$1,199,590 |
4 |
$2,090,880 |
$733,956 $99,317 |
$1,257,607 |
5 |
$2,195,400 |
$772,628 $104,282 |
$1,318,490 |
6 |
$2,305,200 |
$813,254 $109,497 |
$1,382,449 |
7 |
$2,420,400 |
$855,878 $114,969 |
$1,449,553 |
8 |
$2,541,480 |
$900,678 $120,720 |
$1,520,082 |
9 |
$2,668,560 |
$947,698 $126,757 |
$1,594,105 |
10 |
$2,802,000 |
$997,070 $133,095 |
$1,671,835 |
11 |
$2,942,040 |
$1,048,885 $139,747 |
$1,753,408 |
12 |
$3,089,160 |
$1,103,320 $146,735 |
$1,839,105 |
13 |
$3,243,600 |
$1,160,462 $154,071 |
$1,929,067 |
14 |
$3,405,840 |
$1,220,491 $161,777 |
$2,023,572 |
15 |
$3,576,120 |
$1,283,495 $169,866 |
$2,122,759 |
16 |
$3,754,920 |
$1,349,651 $178,359 |
$2,226,910 |
17 |
$3,942,600 |
$1,419,092 $187,274 |
$2,336,234 |
18 |
$4,139,760 |
$1,492,042 $196,639 |
$2,451,079 |
19 |
$4,346,760 |
$1,568,632 $206,471 |
$2,571,657 |
20 |
$4,564,080 |
$1,649,040 $216,794 |
$2,698,246 |
21 |
$4,792,320 |
$1,733,489 $227,635 |
$2,831,196 |
22 |
$5,031,960 |
$1,822,156 $239,018 |
$2,970,786 |
23 |
$5,283,480 |
$1,915,218 $250,965 |
$3,117,297 |
24 |
$5,547,720 |
$2,012,987 $263,517 |
$3,271,216 |
25 |
$5,825,040 |
$2,115,595 $276,689 |
$3,432,756 |
26 |
$6,116,400 |
$2,223,398 $290,529 |
$3,602,473 |
27 |
$6,422,160 |
$2,336,530 $305,053 |
$3,780,577 |
28 |
$6,743,280 |
$2,455,344 $320,306 |
$3,967,630 |
29 |
$7,080,480 |
$2,580,108 $336,323 |
$4,164,049 |
30 |
$7,434,480 |
$2,711,088 $353,138 |
$4,370,254 |
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