Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Minnesota MEGA Millions Jackpot/Cash Option for Tue Jun 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(7.25%)	$9,142,250
Net Lumpsum Payment	$70,340,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$305,535	$2,389,131
2	$4,425,120	-$1,597,625 -$320,821	$2,506,674
3	$4,646,320	-$1,679,469 -$336,858	$2,629,993
4	$4,878,720	-$1,765,457 -$353,707	$2,759,556
5	$5,122,600	-$1,855,692 -$371,389	$2,895,519
6	$5,378,800	-$1,950,486 -$389,963	$3,038,351
7	$5,647,600	-$2,049,942 -$409,451	$3,188,207
8	$5,930,120	-$2,154,475 -$429,934	$3,345,711
9	$6,226,640	-$2,264,187 -$451,431	$3,511,022
10	$6,538,000	-$2,379,390 -$474,005	$3,684,605
11	$6,864,760	-$2,500,292 -$497,695	$3,866,773
12	$7,208,040	-$2,627,305 -$522,583	$4,058,152
13	$7,568,400	-$2,760,638 -$548,709	$4,259,053
14	$7,946,960	-$2,900,706 -$576,155	$4,470,099
15	$8,344,280	-$3,047,714 -$604,960	$4,691,606
16	$8,761,480	-$3,202,078 -$635,207	$4,924,195
17	$9,199,400	-$3,364,108 -$666,957	$5,168,335
18	$9,659,440	-$3,534,323 -$700,309	$5,424,808
19	$10,142,440	-$3,713,033 -$735,327	$5,694,080
20	$10,649,520	-$3,900,653 -$772,090	$5,976,777
21	$11,182,080	-$4,097,700 -$810,701	$6,273,679
22	$11,741,240	-$4,304,589 -$851,240	$6,585,411
23	$12,328,120	-$4,521,735 -$893,789	$6,912,596
24	$12,944,680	-$4,749,862 -$938,489	$7,256,329
25	$13,591,760	-$4,989,282 -$985,403	$7,617,075
26	$14,271,600	-$5,240,822 -$1,034,691	$7,996,087
27	$14,985,040	-$5,504,795 -$1,086,415	$8,393,830
28	$15,734,320	-$5,782,029 -$1,140,738	$8,811,553
29	$16,521,120	-$6,073,145 -$1,197,781	$9,250,194
30	$17,347,120	-$6,378,765 -$1,257,666	$9,710,689