The jackpot for the MEGA Millions draw on Tue Jun 24, 2025, is projected to be $326 Million, with an option for a cash payout of $145.7 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 Tue Jun 24, 2025 |
|---|
| Draw Date | Tue Jun 24, 2025 | | Projected Jackpot | $326,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(7.25%) | $10,563,250 | | Net Lumpsum Payment | $81,267,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$355,730 |
$2,775,114 |
| 2 |
$5,152,104 |
$1,866,609
$373,528 |
$2,911,967 |
| 3 |
$5,409,644 |
$1,961,899
$392,199 |
$3,055,546 |
| 4 |
$5,680,224 |
$2,062,013
$411,816 |
$3,206,395 |
| 5 |
$5,964,170 |
$2,167,073
$432,402 |
$3,364,695 |
| 6 |
$6,262,460 |
$2,277,441
$454,028 |
$3,530,991 |
| 7 |
$6,575,420 |
$2,393,236
$476,718 |
$3,705,466 |
| 8 |
$6,904,354 |
$2,514,941
$500,566 |
$3,888,847 |
| 9 |
$7,249,588 |
$2,642,678
$525,595 |
$4,081,315 |
| 10 |
$7,612,100 |
$2,776,807
$551,877 |
$4,283,416 |
| 11 |
$7,992,542 |
$2,917,571
$579,459 |
$4,495,512 |
| 12 |
$8,392,218 |
$3,065,451
$608,436 |
$4,718,331 |
| 13 |
$8,811,780 |
$3,220,689
$638,854 |
$4,952,237 |
| 14 |
$9,252,532 |
$3,383,767
$670,809 |
$5,197,956 |
| 15 |
$9,715,126 |
$3,554,927
$704,347 |
$5,455,852 |
| 16 |
$10,200,866 |
$3,734,651
$739,563 |
$5,726,652 |
| 17 |
$10,710,730 |
$3,923,300
$776,528 |
$6,010,902 |
| 18 |
$11,246,348 |
$4,121,479
$815,360 |
$6,309,509 |
| 19 |
$11,808,698 |
$4,329,549
$856,131 |
$6,623,018 |
| 20 |
$12,399,084 |
$4,547,991
$898,934 |
$6,952,159 |
| 21 |
$13,019,136 |
$4,777,411
$943,887 |
$7,297,838 |
| 22 |
$13,670,158 |
$5,018,289
$991,086 |
$7,660,783 |
| 23 |
$14,353,454 |
$5,271,108
$1,040,625 |
$8,041,721 |
| 24 |
$15,071,306 |
$5,536,714
$1,092,670 |
$8,441,922 |
| 25 |
$15,824,692 |
$5,815,466
$1,147,290 |
$8,861,936 |
| 26 |
$16,616,220 |
$6,108,332
$1,204,676 |
$9,303,212 |
| 27 |
$17,446,868 |
$6,415,672
$1,264,898 |
$9,766,298 |
| 28 |
$18,319,244 |
$6,738,451
$1,328,145 |
$10,252,648 |
| 29 |
$19,235,304 |
$7,077,393
$1,394,560 |
$10,763,351 |
| 30 |
$20,197,004 |
$7,433,222
$1,464,283 |
$11,299,499 |
|
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