The jackpot for the MEGA Millions draw on Fri May 2, 2025, is projected to be $80 Million, with an option for a cash payout of $36.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Minnesota residents, the state will deduct 7.25% from your lottery earnings.
| Minnesota MEGA Millions Jackpot/Cash Option for Fri May 2, 2025 |
|---|
| Draw Date | Fri May 2, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $36,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,400,000 | | Federal Tax(24%) | $8,736,000 | | Additional Federal Tax | $4,692,330 | | State Tax(7.25%) | $2,639,000 | | Net Lumpsum Payment | $20,332,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$87,296 |
$710,944 |
| 2 |
$1,264,320 |
$428,129
$91,663 |
$744,528 |
| 3 |
$1,327,520 |
$451,513
$96,245 |
$779,762 |
| 4 |
$1,393,920 |
$476,081
$101,059 |
$816,780 |
| 5 |
$1,463,600 |
$501,862
$106,111 |
$855,627 |
| 6 |
$1,536,800 |
$528,946
$111,418 |
$896,436 |
| 7 |
$1,613,600 |
$557,362
$116,986 |
$939,252 |
| 8 |
$1,694,320 |
$587,229
$122,838 |
$984,253 |
| 9 |
$1,779,040 |
$618,575
$128,980 |
$1,031,485 |
| 10 |
$1,868,000 |
$651,490
$135,430 |
$1,081,080 |
| 11 |
$1,961,360 |
$686,034
$142,199 |
$1,133,127 |
| 12 |
$2,059,440 |
$722,323
$149,309 |
$1,187,808 |
| 13 |
$2,162,400 |
$760,418
$156,774 |
$1,245,208 |
| 14 |
$2,270,560 |
$800,438
$164,616 |
$1,305,506 |
| 15 |
$2,384,080 |
$842,440
$172,846 |
$1,368,794 |
| 16 |
$2,503,280 |
$886,544
$181,488 |
$1,435,248 |
| 17 |
$2,628,400 |
$932,838
$190,559 |
$1,505,003 |
| 18 |
$2,759,840 |
$981,471
$200,088 |
$1,578,281 |
| 19 |
$2,897,840 |
$1,032,531
$210,093 |
$1,655,216 |
| 20 |
$3,042,720 |
$1,086,137
$220,597 |
$1,735,986 |
| 21 |
$3,194,880 |
$1,142,436
$231,629 |
$1,820,815 |
| 22 |
$3,354,640 |
$1,201,547
$243,211 |
$1,909,882 |
| 23 |
$3,522,320 |
$1,263,589
$255,368 |
$2,003,363 |
| 24 |
$3,698,480 |
$1,328,768
$268,140 |
$2,101,572 |
| 25 |
$3,883,360 |
$1,397,174
$281,544 |
$2,204,642 |
| 26 |
$4,077,600 |
$1,469,042
$295,626 |
$2,312,932 |
| 27 |
$4,281,440 |
$1,544,463
$310,404 |
$2,426,573 |
| 28 |
$4,495,520 |
$1,623,673
$325,925 |
$2,545,922 |
| 29 |
$4,720,320 |
$1,706,849
$342,223 |
$2,671,248 |
| 30 |
$4,956,320 |
$1,794,169
$359,333 |
$2,802,818 |
|
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