The jackpot for the MEGA Millions draw on Tue Jan 20, 2026, is projected to be $250 Million, with an option for a cash payout of $113.5 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 Jan 20, 2026 |
|---|
| Draw Date | Tue Jan 20, 2026 | | Projected Jackpot | $250,000,000 | | Cash Value | $113,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,500,000 | | Federal Tax(24%) | $27,240,000 | | Additional Federal Tax | $14,715,330 | | State Tax(7.25%) | $8,228,750 | | Net Lumpsum Payment | $63,315,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,762,750 |
$1,352,548
$272,799 |
$2,137,403 |
| 2 |
$3,951,000 |
$1,422,200
$286,448 |
$2,242,352 |
| 3 |
$4,148,500 |
$1,495,275
$300,766 |
$2,352,459 |
| 4 |
$4,356,000 |
$1,572,050
$315,810 |
$2,468,140 |
| 5 |
$4,573,750 |
$1,652,618
$331,597 |
$2,589,535 |
| 6 |
$4,802,500 |
$1,737,255
$348,181 |
$2,717,064 |
| 7 |
$5,042,500 |
$1,826,055
$365,581 |
$2,850,864 |
| 8 |
$5,294,750 |
$1,919,388
$383,869 |
$2,991,493 |
| 9 |
$5,559,500 |
$2,017,345
$403,064 |
$3,139,091 |
| 10 |
$5,837,500 |
$2,120,205
$423,219 |
$3,294,076 |
| 11 |
$6,129,250 |
$2,228,153
$444,371 |
$3,456,726 |
| 12 |
$6,435,750 |
$2,341,558
$466,592 |
$3,627,600 |
| 13 |
$6,757,500 |
$2,460,605
$489,919 |
$3,806,976 |
| 14 |
$7,095,500 |
$2,585,665
$514,424 |
$3,995,411 |
| 15 |
$7,450,250 |
$2,716,923
$540,143 |
$4,193,184 |
| 16 |
$7,822,750 |
$2,854,748
$567,149 |
$4,400,853 |
| 17 |
$8,213,750 |
$2,999,418
$595,497 |
$4,618,835 |
| 18 |
$8,624,500 |
$3,151,395
$625,276 |
$4,847,829 |
| 19 |
$9,055,750 |
$3,310,958
$656,542 |
$5,088,250 |
| 20 |
$9,508,500 |
$3,478,475
$689,366 |
$5,340,659 |
| 21 |
$9,984,000 |
$3,654,410
$723,840 |
$5,605,750 |
| 22 |
$10,483,250 |
$3,839,133
$760,036 |
$5,884,081 |
| 23 |
$11,007,250 |
$4,033,013
$798,026 |
$6,176,211 |
| 24 |
$11,557,750 |
$4,236,698
$837,937 |
$6,483,115 |
| 25 |
$12,135,500 |
$4,450,465
$879,824 |
$6,805,211 |
| 26 |
$12,742,500 |
$4,675,055
$923,831 |
$7,143,614 |
| 27 |
$13,379,500 |
$4,910,745
$970,014 |
$7,498,741 |
| 28 |
$14,048,500 |
$5,158,275
$1,018,516 |
$7,871,709 |
| 29 |
$14,751,000 |
$5,418,200
$1,069,448 |
$8,263,352 |
| 30 |
$15,488,500 |
$5,691,075
$1,122,916 |
$8,674,509 |
|
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