Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(7.25%)	$2,305,500
Net Lumpsum Payment	$17,768,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$76,384	$627,035
2	$1,106,280	-$369,654 -$80,205	$656,421
3	$1,161,580	-$390,115 -$84,215	$687,250
4	$1,219,680	-$411,612 -$88,427	$719,641
5	$1,280,650	-$434,171 -$92,847	$753,632
6	$1,344,700	-$457,869 -$97,491	$789,340
7	$1,411,900	-$482,733 -$102,363	$826,804
8	$1,482,530	-$508,866 -$107,483	$866,181
9	$1,556,660	-$536,295 -$112,858	$907,507
10	$1,634,500	-$565,095 -$118,501	$950,904
11	$1,716,190	-$595,321 -$124,424	$996,445
12	$1,802,010	-$627,074 -$130,646	$1,044,290
13	$1,892,100	-$660,407 -$137,177	$1,094,516
14	$1,986,740	-$695,424 -$144,039	$1,147,277
15	$2,086,070	-$732,176 -$151,240	$1,202,654
16	$2,190,370	-$770,767 -$158,802	$1,260,801
17	$2,299,850	-$811,275 -$166,739	$1,321,836
18	$2,414,860	-$853,829 -$175,077	$1,385,954
19	$2,535,610	-$898,506 -$183,832	$1,453,272
20	$2,662,380	-$945,411 -$193,023	$1,523,946
21	$2,795,520	-$994,673 -$202,675	$1,598,172
22	$2,935,310	-$1,046,395 -$212,810	$1,676,105
23	$3,082,030	-$1,100,681 -$223,447	$1,757,902
24	$3,236,170	-$1,157,713 -$234,622	$1,843,835
25	$3,397,940	-$1,217,568 -$246,351	$1,934,021
26	$3,567,900	-$1,280,453 -$258,673	$2,028,774
27	$3,746,260	-$1,346,447 -$271,604	$2,128,209
28	$3,933,580	-$1,415,755 -$285,185	$2,232,640
29	$4,130,280	-$1,488,534 -$299,445	$2,342,301
30	$4,336,780	-$1,564,939 -$314,417	$2,457,424