Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(7.25%)	$5,995,750
Net Lumpsum Payment	$46,144,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$197,507	$1,558,428
2	$2,860,524	-$1,018,724 -$207,388	$1,634,412
3	$3,003,514	-$1,071,631 -$217,755	$1,714,128
4	$3,153,744	-$1,127,216 -$228,646	$1,797,882
5	$3,311,395	-$1,185,547 -$240,076	$1,885,772
6	$3,477,010	-$1,246,824 -$252,083	$1,978,103
7	$3,650,770	-$1,311,115 -$264,681	$2,074,974
8	$3,833,399	-$1,378,688 -$277,921	$2,176,790
9	$4,025,078	-$1,449,609 -$291,818	$2,283,651
10	$4,226,350	-$1,524,080 -$306,410	$2,395,860
11	$4,437,577	-$1,602,234 -$321,724	$2,513,619
12	$4,659,483	-$1,684,339 -$337,813	$2,637,331
13	$4,892,430	-$1,770,529 -$354,701	$2,767,200
14	$5,137,142	-$1,861,073 -$372,443	$2,903,626
15	$5,393,981	-$1,956,103 -$391,064	$3,046,814
16	$5,663,671	-$2,055,889 -$410,616	$3,197,166
17	$5,946,755	-$2,160,630 -$431,140	$3,354,985
18	$6,244,138	-$2,270,661 -$452,700	$3,520,777
19	$6,556,363	-$2,386,185 -$475,336	$3,694,842
20	$6,884,154	-$2,507,467 -$499,101	$3,877,586
21	$7,228,416	-$2,634,844 -$524,060	$4,069,512
22	$7,589,873	-$2,768,583 -$550,266	$4,271,024
23	$7,969,249	-$2,908,953 -$577,771	$4,482,525
24	$8,367,811	-$3,056,420 -$606,666	$4,704,725
25	$8,786,102	-$3,211,188 -$636,992	$4,937,922
26	$9,225,570	-$3,373,791 -$668,854	$5,182,925
27	$9,686,758	-$3,544,431 -$702,290	$5,440,037
28	$10,171,114	-$3,723,643 -$737,406	$5,710,065
29	$10,679,724	-$3,911,828 -$774,280	$5,993,616
30	$11,213,674	-$4,109,390 -$812,991	$6,291,293