Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Tue Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(7.25%)	$10,121,000
Net Lumpsum Payment	$77,866,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$376,463	$2,934,541
2	$5,452,380	-$1,977,711 -$395,298	$3,079,371
3	$5,724,930	-$2,078,554 -$415,057	$3,231,319
4	$6,011,280	-$2,184,504 -$435,818	$3,390,958
5	$6,311,775	-$2,295,687 -$457,604	$3,558,484
6	$6,627,450	-$2,412,487 -$480,490	$3,734,473
7	$6,958,650	-$2,535,031 -$504,502	$3,919,117
8	$7,306,755	-$2,663,830 -$529,740	$4,113,185
9	$7,672,110	-$2,799,011 -$556,228	$4,316,871
10	$8,055,750	-$2,940,958 -$584,042	$4,530,750
11	$8,458,365	-$3,089,925 -$613,231	$4,755,209
12	$8,881,335	-$3,246,424 -$643,897	$4,991,014
13	$9,325,350	-$3,410,710 -$676,088	$5,238,552
14	$9,791,790	-$3,583,293 -$709,905	$5,498,592
15	$10,281,345	-$3,764,428 -$745,398	$5,771,519
16	$10,795,395	-$3,954,627 -$782,666	$6,058,102
17	$11,334,975	-$4,154,271 -$821,786	$6,358,918
18	$11,901,810	-$4,364,000 -$862,881	$6,674,929
19	$12,496,935	-$4,584,196 -$906,028	$7,006,711
20	$13,121,730	-$4,815,370 -$951,325	$7,355,035
21	$13,777,920	-$5,058,161 -$998,899	$7,720,860
22	$14,466,885	-$5,313,078 -$1,048,849	$8,104,958
23	$15,190,005	-$5,580,632 -$1,101,275	$8,508,098
24	$15,949,695	-$5,861,718 -$1,156,353	$8,931,624
25	$16,746,990	-$6,156,717 -$1,214,157	$9,376,116
26	$17,584,650	-$6,466,651 -$1,274,887	$9,843,112
27	$18,463,710	-$6,791,903 -$1,338,619	$10,333,188
28	$19,386,930	-$7,133,494 -$1,405,552	$10,847,884
29	$20,356,380	-$7,492,191 -$1,475,838	$11,388,351
30	$21,374,130	-$7,868,758 -$1,549,624	$11,955,748