Minnesota Lottery

MNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 23, 2026 is estimated to be $467 Million, with a cash option of 211 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 23, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 23, 2026	$467,000,000	$211,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$211,000,000
Federal Tax(24%)	$50,640,000
Additional Federal Tax	$27,390,330
State Tax(7.25%)	$15,297,500
Net Lumpsum Payment	$117,672,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,028,817	-$2,560,993 -$509,589	$3,958,235
2	$7,380,468	-$2,691,104 -$535,084	$4,154,280
3	$7,749,398	-$2,827,608 -$561,831	$4,359,959
4	$8,137,008	-$2,971,023 -$589,933	$4,576,052
5	$8,543,765	-$3,121,523 -$619,423	$4,802,819
6	$8,971,070	-$3,279,626 -$650,403	$5,041,041
7	$9,419,390	-$3,445,505 -$682,906	$5,290,979
8	$9,890,593	-$3,619,850 -$717,068	$5,553,675
9	$10,385,146	-$3,802,834 -$752,923	$5,829,389
10	$10,904,450	-$3,994,977 -$790,573	$6,118,900
11	$11,449,439	-$4,196,623 -$830,084	$6,422,732
12	$12,021,981	-$4,408,463 -$871,594	$6,741,924
13	$12,623,010	-$4,630,844 -$915,168	$7,076,998
14	$13,254,394	-$4,864,456 -$960,944	$7,428,994
15	$13,917,067	-$5,109,645 -$1,008,987	$7,798,435
16	$14,612,897	-$5,367,102 -$1,059,435	$8,186,360
17	$15,343,285	-$5,637,346 -$1,112,388	$8,593,551
18	$16,110,566	-$5,921,240 -$1,168,016	$9,021,310
19	$16,916,141	-$6,219,303 -$1,226,420	$9,470,418
20	$17,761,878	-$6,532,225 -$1,287,736	$9,941,917
21	$18,650,112	-$6,860,872 -$1,352,133	$10,437,107
22	$19,582,711	-$7,205,933 -$1,419,747	$10,957,031
23	$20,561,543	-$7,568,101 -$1,490,712	$11,502,730
24	$21,589,877	-$7,948,585 -$1,565,266	$12,076,026
25	$22,669,114	-$8,347,903 -$1,643,511	$12,677,700
26	$23,802,990	-$8,767,437 -$1,725,717	$13,309,836
27	$24,992,906	-$9,207,706 -$1,811,986	$13,973,214
28	$26,242,598	-$9,670,092 -$1,902,588	$14,669,918
29	$27,554,868	-$10,155,632 -$1,997,728	$15,401,508
30	$28,932,518	-$10,665,362 -$2,097,608	$16,169,548