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 |
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Draw Date | Tue Oct 21, 2025 | Projected Jackpot | $650,000,000 | Cash Value | $304,100,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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