Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Tue Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(7.25%)	$964,250
Net Lumpsum Payment	$7,454,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$31,645	$283,006
2	$458,316	-$129,907 -$33,228	$295,181
3	$481,226	-$138,384 -$34,889	$307,953
4	$505,296	-$147,290 -$36,634	$321,372
5	$530,555	-$156,636 -$38,465	$335,454
6	$557,090	-$166,454 -$40,389	$350,247
7	$584,930	-$176,754 -$42,407	$365,769
8	$614,191	-$187,581 -$44,529	$382,081
9	$644,902	-$198,944 -$46,755	$399,203
10	$677,150	-$210,876 -$49,093	$417,181
11	$710,993	-$223,398 -$51,547	$436,048
12	$746,547	-$236,553 -$54,125	$455,869
13	$783,870	-$250,362 -$56,831	$476,677
14	$823,078	-$264,869 -$59,673	$498,536
15	$864,229	-$280,095 -$62,657	$521,477
16	$907,439	-$296,083 -$65,789	$545,567
17	$952,795	-$312,865 -$69,078	$570,852
18	$1,000,442	-$330,494 -$72,532	$597,416
19	$1,050,467	-$349,003 -$76,159	$625,305
20	$1,102,986	-$368,435 -$79,966	$654,585
21	$1,158,144	-$388,844 -$83,965	$685,335
22	$1,216,057	-$410,271 -$88,164	$717,622
23	$1,276,841	-$432,762 -$92,571	$751,508
24	$1,340,699	-$456,389 -$97,201	$787,109
25	$1,407,718	-$481,186 -$102,060	$824,472
26	$1,478,130	-$507,238 -$107,164	$863,728
27	$1,552,022	-$534,579 -$112,522	$904,921
28	$1,629,626	-$563,292 -$118,148	$948,186
29	$1,711,116	-$593,443 -$124,056	$993,617
30	$1,796,666	-$625,097 -$130,258	$1,041,311