Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 Aug 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(7.25%)	$4,922,750
Net Lumpsum Payment	$37,893,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$163,680	$1,298,309
2	$2,370,600	-$837,452 -$171,869	$1,361,279
3	$2,489,100	-$881,297 -$180,460	$1,427,343
4	$2,613,600	-$927,362 -$189,486	$1,496,752
5	$2,744,250	-$975,703 -$198,958	$1,569,589
6	$2,881,500	-$1,026,485 -$208,909	$1,646,106
7	$3,025,500	-$1,079,765 -$219,349	$1,726,386
8	$3,176,850	-$1,135,765 -$230,322	$1,810,763
9	$3,335,700	-$1,194,539 -$241,838	$1,899,323
10	$3,502,500	-$1,256,255 -$253,931	$1,992,314
11	$3,677,550	-$1,321,024 -$266,622	$2,089,904
12	$3,861,450	-$1,389,067 -$279,955	$2,192,428
13	$4,054,500	-$1,460,495 -$293,951	$2,300,054
14	$4,257,300	-$1,535,531 -$308,654	$2,413,115
15	$4,470,150	-$1,614,286 -$324,086	$2,531,778
16	$4,693,650	-$1,696,981 -$340,290	$2,656,379
17	$4,928,250	-$1,783,783 -$357,298	$2,787,169
18	$5,174,700	-$1,874,969 -$375,166	$2,924,565
19	$5,433,450	-$1,970,707 -$393,925	$3,068,818
20	$5,705,100	-$2,071,217 -$413,620	$3,220,263
21	$5,990,400	-$2,176,778 -$434,304	$3,379,318
22	$6,289,950	-$2,287,612 -$456,021	$3,546,317
23	$6,604,350	-$2,403,940 -$478,815	$3,721,595
24	$6,934,650	-$2,526,151 -$502,762	$3,905,737
25	$7,281,300	-$2,654,411 -$527,894	$4,098,995
26	$7,645,500	-$2,789,165 -$554,299	$4,302,036
27	$8,027,700	-$2,930,579 -$582,008	$4,515,113
28	$8,429,100	-$3,079,097 -$611,110	$4,738,893
29	$8,850,600	-$3,235,052 -$641,669	$4,973,879
30	$9,293,100	-$3,398,777 -$673,750	$5,220,573