The jackpot for the MEGA Millions draw on Fri May 16, 2025, is projected to be $122 Million, with an option for a cash payout of $54.8 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio MEGA Millions Jackpot/Cash Option for Fri May 16, 2025 |
|---|
| Draw Date | Fri May 16, 2025 | | Projected Jackpot | $122,000,000 | | Cash Value | $54,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,800,000 | | Federal Tax(24%) | $13,152,000 | | Additional Federal Tax | $7,084,330 | | State Tax(3.99%) | $2,186,520 | | Net Lumpsum Payment | $32,377,150 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,836,222 |
$639,733
$73,265 |
$1,123,224 |
| 2 |
$1,928,088 |
$673,723
$76,931 |
$1,177,434 |
| 3 |
$2,024,468 |
$709,384
$80,776 |
$1,234,308 |
| 4 |
$2,125,728 |
$746,850
$84,817 |
$1,294,061 |
| 5 |
$2,231,990 |
$786,167
$89,056 |
$1,356,767 |
| 6 |
$2,343,620 |
$827,470
$93,510 |
$1,422,640 |
| 7 |
$2,460,740 |
$870,804
$98,184 |
$1,491,752 |
| 8 |
$2,583,838 |
$916,350
$103,095 |
$1,564,393 |
| 9 |
$2,713,036 |
$964,154
$108,250 |
$1,640,632 |
| 10 |
$2,848,700 |
$1,014,349
$113,663 |
$1,720,688 |
| 11 |
$2,991,074 |
$1,067,028
$119,344 |
$1,804,702 |
| 12 |
$3,140,646 |
$1,122,369
$125,312 |
$1,892,965 |
| 13 |
$3,297,660 |
$1,180,465
$131,577 |
$1,985,618 |
| 14 |
$3,462,604 |
$1,241,494
$138,158 |
$2,082,952 |
| 15 |
$3,635,722 |
$1,305,548
$145,065 |
$2,185,109 |
| 16 |
$3,817,502 |
$1,372,806
$152,318 |
$2,292,378 |
| 17 |
$4,008,310 |
$1,443,405
$159,932 |
$2,404,973 |
| 18 |
$4,208,756 |
$1,517,570
$167,929 |
$2,523,257 |
| 19 |
$4,419,206 |
$1,595,437
$176,326 |
$2,647,443 |
| 20 |
$4,640,148 |
$1,677,185
$185,142 |
$2,777,821 |
| 21 |
$4,872,192 |
$1,763,041
$194,400 |
$2,914,751 |
| 22 |
$5,115,826 |
$1,853,186
$204,121 |
$3,058,519 |
| 23 |
$5,371,538 |
$1,947,799
$214,324 |
$3,209,415 |
| 24 |
$5,640,182 |
$2,047,198
$225,043 |
$3,367,941 |
| 25 |
$5,922,124 |
$2,151,516
$236,293 |
$3,534,315 |
| 26 |
$6,218,340 |
$2,261,116
$248,112 |
$3,709,112 |
| 27 |
$6,529,196 |
$2,376,133
$260,515 |
$3,892,548 |
| 28 |
$6,855,668 |
$2,496,928
$273,541 |
$4,085,199 |
| 29 |
$7,198,488 |
$2,623,771
$287,220 |
$4,287,497 |
| 30 |
$7,558,388 |
$2,756,934
$301,580 |
$4,499,874 |
|
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