Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(7.25%)	$7,525,500
Net Lumpsum Payment	$57,908,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$253,158	$1,986,366
2	$3,666,528	-$1,316,946 -$265,823	$2,083,759
3	$3,849,808	-$1,384,759 -$279,111	$2,185,938
4	$4,042,368	-$1,456,007 -$293,072	$2,293,289
5	$4,244,440	-$1,530,773 -$307,722	$2,405,945
6	$4,456,720	-$1,609,317 -$323,112	$2,524,291
7	$4,679,440	-$1,691,723 -$339,259	$2,648,458
8	$4,913,528	-$1,778,336 -$356,231	$2,778,961
9	$5,159,216	-$1,869,240 -$374,043	$2,915,933
10	$5,417,200	-$1,964,694 -$392,747	$3,059,759
11	$5,687,944	-$2,064,870 -$412,376	$3,210,698
12	$5,972,376	-$2,170,110 -$432,997	$3,369,269
13	$6,270,960	-$2,280,586 -$454,645	$3,535,729
14	$6,584,624	-$2,396,641 -$477,385	$3,710,598
15	$6,913,832	-$2,518,448 -$501,253	$3,894,131
16	$7,259,512	-$2,646,350 -$526,315	$4,086,847
17	$7,622,360	-$2,780,604 -$552,621	$4,289,135
18	$8,003,536	-$2,921,639 -$580,256	$4,501,641
19	$8,403,736	-$3,069,713 -$609,271	$4,724,752
20	$8,823,888	-$3,225,169 -$639,732	$4,958,987
21	$9,265,152	-$3,388,437 -$671,724	$5,204,991
22	$9,728,456	-$3,559,859 -$705,313	$5,463,284
23	$10,214,728	-$3,739,780 -$740,568	$5,734,380
24	$10,725,592	-$3,928,799 -$777,605	$6,019,188
25	$11,261,744	-$4,127,176 -$816,476	$6,318,092
26	$11,825,040	-$4,335,595 -$857,315	$6,632,130
27	$12,416,176	-$4,554,316 -$900,173	$6,961,687
28	$13,037,008	-$4,784,023 -$945,183	$7,307,802
29	$13,688,928	-$5,025,234 -$992,447	$7,671,247
30	$14,373,328	-$5,278,462 -$1,042,066	$8,052,800