The jackpot for the MEGA Millions draw on Tue Jul 15, 2025, is projected to be $90 Million, with an option for a cash payout of $39.9 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 Jul 15, 2025 |
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Draw Date | Tue Jul 15, 2025 | Projected Jackpot | $90,000,000 | Cash Value | $39,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $39,900,000 | Federal Tax(24%) | $9,576,000 | Additional Federal Tax | $5,147,330 | State Tax(7.25%) | $2,892,750 | Net Lumpsum Payment | $22,283,920 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,354,590 |
$461,529 $98,208 |
$794,853 |
2 |
$1,422,360 |
$486,604 $103,121 |
$832,635 |
3 |
$1,493,460 |
$512,911 $108,276 |
$872,273 |
4 |
$1,568,160 |
$540,550 $113,692 |
$913,918 |
5 |
$1,646,550 |
$569,554 $119,375 |
$957,621 |
6 |
$1,728,900 |
$600,023 $125,345 |
$1,003,532 |
7 |
$1,815,300 |
$631,991 $131,609 |
$1,051,700 |
8 |
$1,906,110 |
$665,591 $138,193 |
$1,102,326 |
9 |
$2,001,420 |
$700,856 $145,103 |
$1,155,461 |
10 |
$2,101,500 |
$737,885 $152,359 |
$1,211,256 |
11 |
$2,206,530 |
$776,746 $159,973 |
$1,269,811 |
12 |
$2,316,870 |
$817,572 $167,973 |
$1,331,325 |
13 |
$2,432,700 |
$860,429 $176,371 |
$1,395,900 |
14 |
$2,554,380 |
$905,451 $185,193 |
$1,463,736 |
15 |
$2,682,090 |
$952,704 $194,452 |
$1,534,934 |
16 |
$2,816,190 |
$1,002,321 $204,174 |
$1,609,695 |
17 |
$2,956,950 |
$1,054,402 $214,379 |
$1,688,169 |
18 |
$3,104,820 |
$1,109,114 $225,099 |
$1,770,607 |
19 |
$3,260,070 |
$1,166,556 $236,355 |
$1,857,159 |
20 |
$3,423,060 |
$1,226,863 $248,172 |
$1,948,025 |
21 |
$3,594,240 |
$1,290,199 $260,582 |
$2,043,459 |
22 |
$3,773,970 |
$1,356,699 $273,613 |
$2,143,658 |
23 |
$3,962,610 |
$1,426,496 $287,289 |
$2,248,825 |
24 |
$4,160,790 |
$1,499,823 $301,657 |
$2,359,310 |
25 |
$4,368,780 |
$1,576,779 $316,737 |
$2,475,264 |
26 |
$4,587,300 |
$1,657,631 $332,579 |
$2,597,090 |
27 |
$4,816,620 |
$1,742,480 $349,205 |
$2,724,935 |
28 |
$5,057,460 |
$1,831,591 $366,666 |
$2,859,203 |
29 |
$5,310,360 |
$1,925,164 $385,001 |
$3,000,195 |
30 |
$5,575,860 |
$2,023,399 $404,250 |
$3,148,211 |
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