The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 Fri Aug 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(7.25%) | $5,452,000 | | Net Lumpsum Payment | $41,963,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$181,139 |
$1,432,564 |
| 2 |
$2,623,464 |
$931,012
$190,201 |
$1,502,251 |
| 3 |
$2,754,604 |
$979,534
$199,709 |
$1,575,361 |
| 4 |
$2,892,384 |
$1,030,512
$209,698 |
$1,652,174 |
| 5 |
$3,036,970 |
$1,084,009
$220,180 |
$1,732,781 |
| 6 |
$3,188,860 |
$1,140,209
$231,192 |
$1,817,459 |
| 7 |
$3,348,220 |
$1,199,172
$242,746 |
$1,906,302 |
| 8 |
$3,515,714 |
$1,261,145
$254,889 |
$1,999,680 |
| 9 |
$3,691,508 |
$1,326,188
$267,634 |
$2,097,686 |
| 10 |
$3,876,100 |
$1,394,487
$281,017 |
$2,200,596 |
| 11 |
$4,069,822 |
$1,466,165
$295,062 |
$2,308,595 |
| 12 |
$4,273,338 |
$1,541,465
$309,817 |
$2,422,056 |
| 13 |
$4,486,980 |
$1,620,513
$325,306 |
$2,541,161 |
| 14 |
$4,711,412 |
$1,703,553
$341,577 |
$2,666,282 |
| 15 |
$4,946,966 |
$1,790,708
$358,655 |
$2,797,603 |
| 16 |
$5,194,306 |
$1,882,224
$376,587 |
$2,935,495 |
| 17 |
$5,453,930 |
$1,978,284
$395,410 |
$3,080,236 |
| 18 |
$5,726,668 |
$2,079,198
$415,183 |
$3,232,287 |
| 19 |
$6,013,018 |
$2,185,147
$435,944 |
$3,391,927 |
| 20 |
$6,313,644 |
$2,296,379
$457,739 |
$3,559,526 |
| 21 |
$6,629,376 |
$2,413,200
$480,630 |
$3,735,546 |
| 22 |
$6,960,878 |
$2,535,855
$504,664 |
$3,920,359 |
| 23 |
$7,308,814 |
$2,664,592
$529,889 |
$4,114,333 |
| 24 |
$7,674,346 |
$2,799,838
$556,390 |
$4,318,118 |
| 25 |
$8,057,972 |
$2,941,780
$584,203 |
$4,531,989 |
| 26 |
$8,461,020 |
$3,090,908
$613,424 |
$4,756,688 |
| 27 |
$8,883,988 |
$3,247,406
$644,089 |
$4,992,493 |
| 28 |
$9,328,204 |
$3,411,766
$676,295 |
$5,240,143 |
| 29 |
$9,794,664 |
$3,584,356
$710,113 |
$5,500,195 |
| 30 |
$10,284,364 |
$3,765,545
$745,616 |
$5,773,203 |
|
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