The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(7.25%) | $2,305,500 | | Net Lumpsum Payment | $17,768,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$76,384 |
$627,035 |
| 2 |
$1,106,280 |
$369,654
$80,205 |
$656,421 |
| 3 |
$1,161,580 |
$390,115
$84,215 |
$687,250 |
| 4 |
$1,219,680 |
$411,612
$88,427 |
$719,641 |
| 5 |
$1,280,650 |
$434,171
$92,847 |
$753,632 |
| 6 |
$1,344,700 |
$457,869
$97,491 |
$789,340 |
| 7 |
$1,411,900 |
$482,733
$102,363 |
$826,804 |
| 8 |
$1,482,530 |
$508,866
$107,483 |
$866,181 |
| 9 |
$1,556,660 |
$536,295
$112,858 |
$907,507 |
| 10 |
$1,634,500 |
$565,095
$118,501 |
$950,904 |
| 11 |
$1,716,190 |
$595,321
$124,424 |
$996,445 |
| 12 |
$1,802,010 |
$627,074
$130,646 |
$1,044,290 |
| 13 |
$1,892,100 |
$660,407
$137,177 |
$1,094,516 |
| 14 |
$1,986,740 |
$695,424
$144,039 |
$1,147,277 |
| 15 |
$2,086,070 |
$732,176
$151,240 |
$1,202,654 |
| 16 |
$2,190,370 |
$770,767
$158,802 |
$1,260,801 |
| 17 |
$2,299,850 |
$811,275
$166,739 |
$1,321,836 |
| 18 |
$2,414,860 |
$853,829
$175,077 |
$1,385,954 |
| 19 |
$2,535,610 |
$898,506
$183,832 |
$1,453,272 |
| 20 |
$2,662,380 |
$945,411
$193,023 |
$1,523,946 |
| 21 |
$2,795,520 |
$994,673
$202,675 |
$1,598,172 |
| 22 |
$2,935,310 |
$1,046,395
$212,810 |
$1,676,105 |
| 23 |
$3,082,030 |
$1,100,681
$223,447 |
$1,757,902 |
| 24 |
$3,236,170 |
$1,157,713
$234,622 |
$1,843,835 |
| 25 |
$3,397,940 |
$1,217,568
$246,351 |
$1,934,021 |
| 26 |
$3,567,900 |
$1,280,453
$258,673 |
$2,028,774 |
| 27 |
$3,746,260 |
$1,346,447
$271,604 |
$2,128,209 |
| 28 |
$3,933,580 |
$1,415,755
$285,185 |
$2,232,640 |
| 29 |
$4,130,280 |
$1,488,534
$299,445 |
$2,342,301 |
| 30 |
$4,336,780 |
$1,564,939
$314,417 |
$2,457,424 |
|
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