Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 24, 2025 is estimated to be $326 Million, with a cash option of 145.7 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Minnesota, your state will take 7.25% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Minnesota MEGA Millions Jackpot/Cash Option for Tue Jun 24, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 24, 2025	$326,000,000	$145,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$145,700,000
Federal Tax(24%)	$34,968,000
Additional Federal Tax	$18,901,330
State Tax(7.25%)	$10,563,250
Net Lumpsum Payment	$81,267,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,906,626	-$1,775,782 -$355,730	$2,775,114
2	$5,152,104	-$1,866,609 -$373,528	$2,911,967
3	$5,409,644	-$1,961,899 -$392,199	$3,055,546
4	$5,680,224	-$2,062,013 -$411,816	$3,206,395
5	$5,964,170	-$2,167,073 -$432,402	$3,364,695
6	$6,262,460	-$2,277,441 -$454,028	$3,530,991
7	$6,575,420	-$2,393,236 -$476,718	$3,705,466
8	$6,904,354	-$2,514,941 -$500,566	$3,888,847
9	$7,249,588	-$2,642,678 -$525,595	$4,081,315
10	$7,612,100	-$2,776,807 -$551,877	$4,283,416
11	$7,992,542	-$2,917,571 -$579,459	$4,495,512
12	$8,392,218	-$3,065,451 -$608,436	$4,718,331
13	$8,811,780	-$3,220,689 -$638,854	$4,952,237
14	$9,252,532	-$3,383,767 -$670,809	$5,197,956
15	$9,715,126	-$3,554,927 -$704,347	$5,455,852
16	$10,200,866	-$3,734,651 -$739,563	$5,726,652
17	$10,710,730	-$3,923,300 -$776,528	$6,010,902
18	$11,246,348	-$4,121,479 -$815,360	$6,309,509
19	$11,808,698	-$4,329,549 -$856,131	$6,623,018
20	$12,399,084	-$4,547,991 -$898,934	$6,952,159
21	$13,019,136	-$4,777,411 -$943,887	$7,297,838
22	$13,670,158	-$5,018,289 -$991,086	$7,660,783
23	$14,353,454	-$5,271,108 -$1,040,625	$8,041,721
24	$15,071,306	-$5,536,714 -$1,092,670	$8,441,922
25	$15,824,692	-$5,815,466 -$1,147,290	$8,861,936
26	$16,616,220	-$6,108,332 -$1,204,676	$9,303,212
27	$17,446,868	-$6,415,672 -$1,264,898	$9,766,298
28	$18,319,244	-$6,738,451 -$1,328,145	$10,252,648
29	$19,235,304	-$7,077,393 -$1,394,560	$10,763,351
30	$20,197,004	-$7,433,222 -$1,464,283	$11,299,499