The jackpot for the MEGA Millions draw on Tue Jun 23, 2026, is projected to be $467 Million, with an option for a cash payout of $211 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 23, 2026 |
|---|
| Draw Date | Tue Jun 23, 2026 | | Projected Jackpot | $467,000,000 | | Cash Value | $211,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
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 |
|
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