The jackpot for the MEGA Millions draw on Fri Jul 4, 2025, is projected to be $60 Million, with an option for a cash payout of $26.9 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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
Pennsylvania MEGA Millions Jackpot/Cash Option for Fri Jul 4, 2025 |
---|
Draw Date | Fri Jul 4, 2025 | Projected Jackpot | $60,000,000 | Cash Value | $26,900,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $26,900,000 | Federal Tax(24%) | $6,456,000 | Additional Federal Tax | $3,457,330 | State Tax(3.07%) | $825,830 | Net Lumpsum Payment | $16,160,840 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$903,060 |
$294,463 $27,724 |
$580,873 |
2 |
$948,240 |
$311,179 $29,111 |
$607,950 |
3 |
$995,640 |
$328,717 $30,566 |
$636,357 |
4 |
$1,045,440 |
$347,143 $32,095 |
$666,202 |
5 |
$1,097,700 |
$366,479 $33,699 |
$697,522 |
6 |
$1,152,600 |
$386,792 $35,385 |
$730,423 |
7 |
$1,210,200 |
$408,104 $37,153 |
$764,943 |
8 |
$1,270,740 |
$430,504 $39,012 |
$801,224 |
9 |
$1,334,280 |
$454,014 $40,962 |
$839,304 |
10 |
$1,401,000 |
$478,700 $43,011 |
$879,289 |
11 |
$1,471,020 |
$504,608 $45,160 |
$921,252 |
12 |
$1,544,580 |
$531,825 $47,419 |
$965,336 |
13 |
$1,621,800 |
$560,396 $49,789 |
$1,011,615 |
14 |
$1,702,920 |
$590,411 $52,280 |
$1,060,229 |
15 |
$1,788,060 |
$621,913 $54,893 |
$1,111,254 |
16 |
$1,877,460 |
$654,991 $57,638 |
$1,164,831 |
17 |
$1,971,300 |
$689,711 $60,519 |
$1,221,070 |
18 |
$2,069,880 |
$726,186 $63,545 |
$1,280,149 |
19 |
$2,173,380 |
$764,481 $66,723 |
$1,342,176 |
20 |
$2,282,040 |
$804,685 $70,059 |
$1,407,296 |
21 |
$2,396,160 |
$846,910 $73,562 |
$1,475,688 |
22 |
$2,515,980 |
$891,243 $77,241 |
$1,547,496 |
23 |
$2,641,740 |
$937,774 $81,101 |
$1,622,865 |
24 |
$2,773,860 |
$986,659 $85,158 |
$1,702,043 |
25 |
$2,912,520 |
$1,037,963 $89,414 |
$1,785,143 |
26 |
$3,058,200 |
$1,091,864 $93,887 |
$1,872,449 |
27 |
$3,211,080 |
$1,148,430 $98,580 |
$1,964,070 |
28 |
$3,371,640 |
$1,207,837 $103,509 |
$2,060,294 |
29 |
$3,540,240 |
$1,270,219 $108,685 |
$2,161,336 |
30 |
$3,717,240 |
$1,335,709 $114,119 |
$2,267,412 |
|
|