Jackpot Analysis Minnesota Mega Millions

Jackpot Analysis for Minnesota Mega Millions
The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 Oct 21, 2025
Draw DateTue Oct 21, 2025
Projected Jackpot$650,000,000
Cash Value$304,100,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$304,100,000
Federal Tax(24%)$72,984,000
Additional Federal Tax$39,493,330
State Tax(7.25%)$22,047,250
Net Lumpsum Payment$169,575,420
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $9,783,150 $3,580,096
$709,278
$5,493,776
2 $10,272,600 $3,761,192
$744,764
$5,766,644
3 $10,786,100 $3,951,187
$781,992
$6,052,921
4 $11,325,600 $4,150,802
$821,106
$6,353,692
5 $11,891,750 $4,360,278
$862,152
$6,669,320
6 $12,486,500 $4,580,335
$905,271
$7,000,894
7 $13,110,500 $4,811,215
$950,511
$7,348,774
8 $13,766,350 $5,053,880
$998,060
$7,714,410
9 $14,454,700 $5,308,569
$1,047,966
$8,098,165
10 $15,177,500 $5,576,005
$1,100,369
$8,501,126
11 $15,936,050 $5,856,669
$1,155,364
$8,924,017
12 $16,732,950 $6,151,522
$1,213,139
$9,368,289
13 $17,569,500 $6,461,045
$1,273,789
$9,834,666
14 $18,448,300 $6,786,201
$1,337,502
$10,324,597
15 $19,370,650 $7,127,471
$1,404,372
$10,838,807
16 $20,339,150 $7,485,816
$1,474,588
$11,378,746
17 $21,355,750 $7,861,958
$1,548,292
$11,945,500
18 $22,423,700 $8,257,099
$1,625,718
$12,540,883
19 $23,544,950 $8,671,962
$1,707,009
$13,165,979
20 $24,722,100 $9,107,507
$1,792,352
$13,822,241
21 $25,958,400 $9,564,938
$1,881,984
$14,511,478
22 $27,256,450 $10,045,217
$1,976,093
$15,235,140
23 $28,618,850 $10,549,305
$2,074,867
$15,994,678
24 $30,050,150 $11,078,886
$2,178,636
$16,792,628
25 $31,552,300 $11,634,681
$2,287,542
$17,630,077
26 $33,130,500 $12,218,615
$2,401,961
$18,509,924
27 $34,786,700 $12,831,409
$2,522,036
$19,433,255
28 $36,526,100 $13,474,987
$2,648,142
$20,402,971
29 $38,352,600 $14,150,792
$2,780,564
$21,421,244
30 $40,270,100 $14,860,267
$2,919,582
$22,490,251