Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(7.25%)	$1,848,750
Net Lumpsum Payment	$14,255,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$65,472	$543,125
2	$948,240	-$311,179 -$68,747	$568,314
3	$995,640	-$328,717 -$72,184	$594,739
4	$1,045,440	-$347,143 -$75,794	$622,503
5	$1,097,700	-$366,479 -$79,583	$651,638
6	$1,152,600	-$386,792 -$83,564	$682,244
7	$1,210,200	-$408,104 -$87,740	$714,356
8	$1,270,740	-$430,504 -$92,129	$748,107
9	$1,334,280	-$454,014 -$96,735	$783,531
10	$1,401,000	-$478,700 -$101,573	$820,727
11	$1,471,020	-$504,608 -$106,649	$859,763
12	$1,544,580	-$531,825 -$111,982	$900,773
13	$1,621,800	-$560,396 -$117,581	$943,823
14	$1,702,920	-$590,411 -$123,462	$989,047
15	$1,788,060	-$621,913 -$129,634	$1,036,513
16	$1,877,460	-$654,991 -$136,116	$1,086,353
17	$1,971,300	-$689,711 -$142,919	$1,138,670
18	$2,069,880	-$726,186 -$150,066	$1,193,628
19	$2,173,380	-$764,481 -$157,570	$1,251,329
20	$2,282,040	-$804,685 -$165,448	$1,311,907
21	$2,396,160	-$846,910 -$173,722	$1,375,528
22	$2,515,980	-$891,243 -$182,409	$1,442,328
23	$2,641,740	-$937,774 -$191,526	$1,512,440
24	$2,773,860	-$986,659 -$201,105	$1,586,096
25	$2,912,520	-$1,037,963 -$211,158	$1,663,399
26	$3,058,200	-$1,091,864 -$221,720	$1,744,616
27	$3,211,080	-$1,148,430 -$232,803	$1,829,847
28	$3,371,640	-$1,207,837 -$244,444	$1,919,359
29	$3,540,240	-$1,270,219 -$256,667	$2,013,354
30	$3,717,240	-$1,335,709 -$269,500	$2,112,031