The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(7.25%) | $1,450,000 | | Net Lumpsum Payment | $11,189,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$46,921 |
$400,480 |
| 2 |
$679,572 |
$211,772
$49,269 |
$418,531 |
| 3 |
$713,542 |
$224,341
$51,732 |
$437,469 |
| 4 |
$749,232 |
$237,546
$54,319 |
$457,367 |
| 5 |
$786,685 |
$251,404
$57,035 |
$478,246 |
| 6 |
$826,030 |
$265,961
$59,887 |
$500,182 |
| 7 |
$867,310 |
$281,235
$62,880 |
$523,195 |
| 8 |
$910,697 |
$297,288
$66,026 |
$547,383 |
| 9 |
$956,234 |
$314,137
$69,327 |
$572,770 |
| 10 |
$1,004,050 |
$331,829
$72,794 |
$599,427 |
| 11 |
$1,054,231 |
$350,396
$76,432 |
$627,403 |
| 12 |
$1,106,949 |
$369,902
$80,254 |
$656,793 |
| 13 |
$1,162,290 |
$390,378
$84,266 |
$687,646 |
| 14 |
$1,220,426 |
$411,888
$88,481 |
$720,057 |
| 15 |
$1,281,443 |
$434,464
$92,905 |
$754,074 |
| 16 |
$1,345,513 |
$458,170
$97,550 |
$789,793 |
| 17 |
$1,412,765 |
$483,053
$102,425 |
$827,287 |
| 18 |
$1,483,414 |
$509,194
$107,548 |
$866,672 |
| 19 |
$1,557,589 |
$536,638
$112,925 |
$908,026 |
| 20 |
$1,635,462 |
$565,451
$118,571 |
$951,440 |
| 21 |
$1,717,248 |
$595,712
$124,500 |
$997,036 |
| 22 |
$1,803,119 |
$627,484
$130,726 |
$1,044,909 |
| 23 |
$1,893,247 |
$660,832
$137,260 |
$1,095,155 |
| 24 |
$1,987,933 |
$695,866
$144,125 |
$1,147,942 |
| 25 |
$2,087,306 |
$732,634
$151,330 |
$1,203,342 |
| 26 |
$2,191,710 |
$771,263
$158,899 |
$1,261,548 |
| 27 |
$2,301,274 |
$811,802
$166,842 |
$1,322,630 |
| 28 |
$2,416,342 |
$854,377
$175,185 |
$1,386,780 |
| 29 |
$2,537,172 |
$899,084
$183,945 |
$1,454,143 |
| 30 |
$2,664,022 |
$946,019
$193,142 |
$1,524,861 |
|
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