The jackpot for the MEGA Millions draw on Tue Apr 8, 2025, is projected to be $54 Million, with an option for a cash payout of $25.7 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 8, 2025 |
|---|
| Draw Date | Tue Apr 8, 2025 | | Projected Jackpot | $54,000,000 | | Cash Value | $25,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $25,700,000 | | Federal Tax(24%) | $6,168,000 | | Additional Federal Tax | $3,301,330 | | State Tax(7.25%) | $1,863,250 | | Net Lumpsum Payment | $14,367,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$812,754 |
$261,049
$58,925 |
$492,780 |
| 2 |
$853,416 |
$276,094
$61,873 |
$515,449 |
| 3 |
$896,076 |
$291,879
$64,966 |
$539,231 |
| 4 |
$940,896 |
$308,462
$68,215 |
$564,219 |
| 5 |
$987,930 |
$325,864
$71,625 |
$590,441 |
| 6 |
$1,037,340 |
$344,146
$75,207 |
$617,987 |
| 7 |
$1,089,180 |
$363,327
$78,966 |
$646,887 |
| 8 |
$1,143,666 |
$383,487
$82,916 |
$677,263 |
| 9 |
$1,200,852 |
$404,646
$87,062 |
$709,144 |
| 10 |
$1,260,900 |
$426,863
$91,415 |
$742,622 |
| 11 |
$1,323,918 |
$450,180
$95,984 |
$777,754 |
| 12 |
$1,390,122 |
$474,676
$100,784 |
$814,662 |
| 13 |
$1,459,620 |
$500,390
$105,822 |
$853,408 |
| 14 |
$1,532,628 |
$527,403
$111,116 |
$894,109 |
| 15 |
$1,609,254 |
$555,754
$116,671 |
$936,829 |
| 16 |
$1,689,714 |
$585,525
$122,504 |
$981,685 |
| 17 |
$1,774,170 |
$616,773
$128,627 |
$1,028,770 |
| 18 |
$1,862,892 |
$649,600
$135,060 |
$1,078,232 |
| 19 |
$1,956,042 |
$684,066
$141,813 |
$1,130,163 |
| 20 |
$2,053,836 |
$720,250
$148,903 |
$1,184,683 |
| 21 |
$2,156,544 |
$758,252
$156,349 |
$1,241,943 |
| 22 |
$2,264,382 |
$798,152
$164,168 |
$1,302,062 |
| 23 |
$2,377,566 |
$840,030
$172,374 |
$1,365,162 |
| 24 |
$2,496,474 |
$884,026
$180,994 |
$1,431,454 |
| 25 |
$2,621,268 |
$930,200
$190,042 |
$1,501,026 |
| 26 |
$2,752,380 |
$978,711
$199,548 |
$1,574,121 |
| 27 |
$2,889,972 |
$1,029,620
$209,523 |
$1,650,829 |
| 28 |
$3,034,476 |
$1,083,087
$220,000 |
$1,731,389 |
| 29 |
$3,186,216 |
$1,139,230
$231,001 |
$1,815,985 |
| 30 |
$3,345,516 |
$1,198,171
$242,550 |
$1,904,795 |
|
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