Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 9, 2025 is estimated to be $100 Million, with a cash option of 45.3 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 Fri May 9, 2025

Draw Date	Jackpot	Cash Option
Fri May 9, 2025	$100,000,000	$45,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$45,300,000
Federal Tax(24%)	$10,872,000
Additional Federal Tax	$5,849,330
State Tax(7.25%)	$3,284,250
Net Lumpsum Payment	$25,294,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,505,100	-$517,217 -$109,120	$878,763
2	$1,580,400	-$545,078 -$114,579	$920,743
3	$1,659,400	-$574,308 -$120,307	$964,785
4	$1,742,400	-$605,018 -$126,324	$1,011,058
5	$1,829,500	-$637,245 -$132,639	$1,059,616
6	$1,921,000	-$671,100 -$139,273	$1,110,627
7	$2,017,000	-$706,620 -$146,233	$1,164,147
8	$2,117,900	-$743,953 -$153,548	$1,220,399
9	$2,223,800	-$783,136 -$161,226	$1,279,438
10	$2,335,000	-$824,280 -$169,288	$1,341,432
11	$2,451,700	-$867,459 -$177,748	$1,406,493
12	$2,574,300	-$912,821 -$186,637	$1,474,842
13	$2,703,000	-$960,440 -$195,968	$1,546,592
14	$2,838,200	-$1,010,464 -$205,770	$1,621,966
15	$2,980,100	-$1,062,967 -$216,057	$1,701,076
16	$3,129,100	-$1,118,097 -$226,860	$1,784,143
17	$3,285,500	-$1,175,965 -$238,199	$1,871,336
18	$3,449,800	-$1,236,756 -$250,111	$1,962,933
19	$3,622,300	-$1,300,581 -$262,617	$2,059,102
20	$3,803,400	-$1,367,588 -$275,747	$2,160,065
21	$3,993,600	-$1,437,962 -$289,536	$2,266,102
22	$4,193,300	-$1,511,851 -$304,014	$2,377,435
23	$4,402,900	-$1,589,403 -$319,210	$2,494,287
24	$4,623,100	-$1,670,877 -$335,175	$2,617,048
25	$4,854,200	-$1,756,384 -$351,930	$2,745,886
26	$5,097,000	-$1,846,220 -$369,533	$2,881,247
27	$5,351,800	-$1,940,496 -$388,006	$3,023,298
28	$5,619,400	-$2,039,508 -$407,407	$3,172,485
29	$5,900,400	-$2,143,478 -$427,779	$3,329,143
30	$6,195,400	-$2,252,628 -$449,167	$3,493,605