The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma MEGA Millions Jackpot/Cash Option for Fri Aug 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(4.75%) | $5,918,500 | | Net Lumpsum Payment | $72,619,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$198,034 |
$2,468,186 |
| 2 |
$4,377,708 |
$1,580,082
$207,941 |
$2,589,685 |
| 3 |
$4,596,538 |
$1,661,049
$218,336 |
$2,717,153 |
| 4 |
$4,826,448 |
$1,746,116
$229,256 |
$2,851,076 |
| 5 |
$5,067,715 |
$1,835,385
$240,716 |
$2,991,614 |
| 6 |
$5,321,170 |
$1,929,163
$252,756 |
$3,139,251 |
| 7 |
$5,587,090 |
$2,027,554
$265,387 |
$3,294,149 |
| 8 |
$5,866,583 |
$2,130,966
$278,663 |
$3,456,954 |
| 9 |
$6,159,926 |
$2,239,503
$292,596 |
$3,627,827 |
| 10 |
$6,467,950 |
$2,353,472
$307,228 |
$3,807,250 |
| 11 |
$6,791,209 |
$2,473,078
$322,582 |
$3,995,549 |
| 12 |
$7,130,811 |
$2,598,730
$338,714 |
$4,193,367 |
| 13 |
$7,487,310 |
$2,730,635
$355,647 |
$4,401,028 |
| 14 |
$7,861,814 |
$2,869,202
$373,436 |
$4,619,176 |
| 15 |
$8,254,877 |
$3,014,635
$392,107 |
$4,848,135 |
| 16 |
$8,667,607 |
$3,167,345
$411,711 |
$5,088,551 |
| 17 |
$9,100,835 |
$3,327,639
$432,290 |
$5,340,906 |
| 18 |
$9,555,946 |
$3,496,030
$453,907 |
$5,606,009 |
| 19 |
$10,033,771 |
$3,672,826
$476,604 |
$5,884,341 |
| 20 |
$10,535,418 |
$3,858,435
$500,432 |
$6,176,551 |
| 21 |
$11,062,272 |
$4,053,371
$525,458 |
$6,483,443 |
| 22 |
$11,615,441 |
$4,258,044
$551,733 |
$6,805,664 |
| 23 |
$12,196,033 |
$4,472,863
$579,312 |
$7,143,858 |
| 24 |
$12,805,987 |
$4,698,546
$608,284 |
$7,499,157 |
| 25 |
$13,446,134 |
$4,935,400
$638,691 |
$7,872,043 |
| 26 |
$14,118,690 |
$5,184,246
$670,638 |
$8,263,806 |
| 27 |
$14,824,486 |
$5,445,390
$704,163 |
$8,674,933 |
| 28 |
$15,565,738 |
$5,719,653
$739,373 |
$9,106,712 |
| 29 |
$16,344,108 |
$6,007,650
$776,345 |
$9,560,113 |
| 30 |
$17,161,258 |
$6,309,996
$815,160 |
$10,036,102 |
|
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