Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 29, 2025 is estimated to be $277 Million, with a cash option of 124.6 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 Aug 29, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 29, 2025	$277,000,000	$124,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$124,600,000
Federal Tax(24%)	$29,904,000
Additional Federal Tax	$16,158,330
State Tax(7.25%)	$9,033,500
Net Lumpsum Payment	$69,504,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,169,127	-$1,502,907 -$302,262	$2,363,958
2	$4,377,708	-$1,580,082 -$317,384	$2,480,242
3	$4,596,538	-$1,661,049 -$333,249	$2,602,240
4	$4,826,448	-$1,746,116 -$349,917	$2,730,415
5	$5,067,715	-$1,835,385 -$367,409	$2,864,921
6	$5,321,170	-$1,929,163 -$385,785	$3,006,222
7	$5,587,090	-$2,027,554 -$405,064	$3,154,472
8	$5,866,583	-$2,130,966 -$425,327	$3,310,290
9	$6,159,926	-$2,239,503 -$446,595	$3,473,828
10	$6,467,950	-$2,353,472 -$468,926	$3,645,552
11	$6,791,209	-$2,473,078 -$492,363	$3,825,768
12	$7,130,811	-$2,598,730 -$516,984	$4,015,097
13	$7,487,310	-$2,730,635 -$542,830	$4,213,845
14	$7,861,814	-$2,869,202 -$569,982	$4,422,630
15	$8,254,877	-$3,014,635 -$598,479	$4,641,763
16	$8,667,607	-$3,167,345 -$628,402	$4,871,860
17	$9,100,835	-$3,327,639 -$659,811	$5,113,385
18	$9,555,946	-$3,496,030 -$692,806	$5,367,110
19	$10,033,771	-$3,672,826 -$727,448	$5,633,497
20	$10,535,418	-$3,858,435 -$763,818	$5,913,165
21	$11,062,272	-$4,053,371 -$802,015	$6,206,886
22	$11,615,441	-$4,258,044 -$842,119	$6,515,278
23	$12,196,033	-$4,472,863 -$884,212	$6,838,958
24	$12,805,987	-$4,698,546 -$928,434	$7,179,007
25	$13,446,134	-$4,935,400 -$974,845	$7,535,889
26	$14,118,690	-$5,184,246 -$1,023,605	$7,910,839
27	$14,824,486	-$5,445,390 -$1,074,775	$8,304,321
28	$15,565,738	-$5,719,653 -$1,128,516	$8,717,569
29	$16,344,108	-$6,007,650 -$1,184,948	$9,151,510
30	$17,161,258	-$6,309,996 -$1,244,191	$9,607,071