Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 8, 2026 is estimated to be $215 Million, with a cash option of 95.2 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 8, 2026

Draw Date	Jackpot	Cash Option
Fri May 8, 2026	$215,000,000	$95,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$95,200,000
Federal Tax(24%)	$22,848,000
Additional Federal Tax	$12,336,330
State Tax(7.25%)	$6,902,000
Net Lumpsum Payment	$53,113,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,235,965	-$1,157,637 -$234,607	$1,843,721
2	$3,397,860	-$1,217,539 -$246,345	$1,933,976
3	$3,567,710	-$1,280,383 -$258,659	$2,028,668
4	$3,746,160	-$1,346,410 -$271,597	$2,128,153
5	$3,933,425	-$1,415,698 -$285,173	$2,232,554
6	$4,130,150	-$1,488,486 -$299,436	$2,342,228
7	$4,336,550	-$1,564,854 -$314,400	$2,457,296
8	$4,553,485	-$1,645,120 -$330,128	$2,578,237
9	$4,781,170	-$1,729,363 -$346,635	$2,705,172
10	$5,020,250	-$1,817,823 -$363,968	$2,838,459
11	$5,271,155	-$1,910,658 -$382,159	$2,978,338
12	$5,534,745	-$2,008,186 -$401,269	$3,125,290
13	$5,811,450	-$2,110,567 -$421,330	$3,279,553
14	$6,102,130	-$2,218,118 -$442,404	$3,441,608
15	$6,407,215	-$2,331,000 -$464,523	$3,611,692
16	$6,727,565	-$2,449,529 -$487,748	$3,790,288
17	$7,063,825	-$2,573,946 -$512,127	$3,977,752
18	$7,417,070	-$2,704,646 -$537,738	$4,174,686
19	$7,787,945	-$2,841,870 -$564,626	$4,381,449
20	$8,177,310	-$2,985,935 -$592,855	$4,598,520
21	$8,586,240	-$3,137,239 -$622,502	$4,826,499
22	$9,015,595	-$3,296,101 -$653,631	$5,065,863
23	$9,466,235	-$3,462,837 -$686,302	$5,317,096
24	$9,939,665	-$3,638,006 -$720,626	$5,581,033
25	$10,436,530	-$3,821,846 -$756,648	$5,858,036
26	$10,958,550	-$4,014,994 -$794,495	$6,149,061
27	$11,506,370	-$4,217,687 -$834,212	$6,454,471
28	$12,081,710	-$4,430,563 -$875,924	$6,775,223
29	$12,685,860	-$4,654,099 -$919,725	$7,112,036
30	$13,320,110	-$4,888,771 -$965,708	$7,465,631