The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(7.25%) | $964,250 | | Net Lumpsum Payment | $7,454,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$31,645 |
$283,006 |
| 2 |
$458,316 |
$129,907
$33,228 |
$295,181 |
| 3 |
$481,226 |
$138,384
$34,889 |
$307,953 |
| 4 |
$505,296 |
$147,290
$36,634 |
$321,372 |
| 5 |
$530,555 |
$156,636
$38,465 |
$335,454 |
| 6 |
$557,090 |
$166,454
$40,389 |
$350,247 |
| 7 |
$584,930 |
$176,754
$42,407 |
$365,769 |
| 8 |
$614,191 |
$187,581
$44,529 |
$382,081 |
| 9 |
$644,902 |
$198,944
$46,755 |
$399,203 |
| 10 |
$677,150 |
$210,876
$49,093 |
$417,181 |
| 11 |
$710,993 |
$223,398
$51,547 |
$436,048 |
| 12 |
$746,547 |
$236,553
$54,125 |
$455,869 |
| 13 |
$783,870 |
$250,362
$56,831 |
$476,677 |
| 14 |
$823,078 |
$264,869
$59,673 |
$498,536 |
| 15 |
$864,229 |
$280,095
$62,657 |
$521,477 |
| 16 |
$907,439 |
$296,083
$65,789 |
$545,567 |
| 17 |
$952,795 |
$312,865
$69,078 |
$570,852 |
| 18 |
$1,000,442 |
$330,494
$72,532 |
$597,416 |
| 19 |
$1,050,467 |
$349,003
$76,159 |
$625,305 |
| 20 |
$1,102,986 |
$368,435
$79,966 |
$654,585 |
| 21 |
$1,158,144 |
$388,844
$83,965 |
$685,335 |
| 22 |
$1,216,057 |
$410,271
$88,164 |
$717,622 |
| 23 |
$1,276,841 |
$432,762
$92,571 |
$751,508 |
| 24 |
$1,340,699 |
$456,389
$97,201 |
$787,109 |
| 25 |
$1,407,718 |
$481,186
$102,060 |
$824,472 |
| 26 |
$1,478,130 |
$507,238
$107,164 |
$863,728 |
| 27 |
$1,552,022 |
$534,579
$112,522 |
$904,921 |
| 28 |
$1,629,626 |
$563,292
$118,148 |
$948,186 |
| 29 |
$1,711,116 |
$593,443
$124,056 |
$993,617 |
| 30 |
$1,796,666 |
$625,097
$130,258 |
$1,041,311 |
|
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