The jackpot for the MEGA Millions draw on Fri Jul 3, 2026, is projected to be $542 Million, with an option for a cash payout of $242 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 Jul 3, 2026 |
|---|
| Draw Date | Fri Jul 3, 2026 | | Projected Jackpot | $542,000,000 | | Cash Value | $242,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $242,000,000 | | Federal Tax(24%) | $58,080,000 | | Additional Federal Tax | $31,420,330 | | State Tax(7.25%) | $17,545,000 | | Net Lumpsum Payment | $134,954,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$591,429 |
$4,587,555 |
| 2 |
$8,565,768 |
$3,129,665
$621,018 |
$4,815,085 |
| 3 |
$8,993,948 |
$3,288,091
$652,061 |
$5,053,796 |
| 4 |
$9,443,808 |
$3,454,539
$684,676 |
$5,304,593 |
| 5 |
$9,915,890 |
$3,629,210
$718,902 |
$5,567,778 |
| 6 |
$10,411,820 |
$3,812,704
$754,857 |
$5,844,259 |
| 7 |
$10,932,140 |
$4,005,222
$792,580 |
$6,134,338 |
| 8 |
$11,479,018 |
$4,207,567
$832,229 |
$6,439,222 |
| 9 |
$12,052,996 |
$4,419,939
$873,842 |
$6,759,215 |
| 10 |
$12,655,700 |
$4,642,939
$917,538 |
$7,095,223 |
| 11 |
$13,288,214 |
$4,876,970
$963,396 |
$7,447,848 |
| 12 |
$13,952,706 |
$5,122,832
$1,011,571 |
$7,818,303 |
| 13 |
$14,650,260 |
$5,380,927
$1,062,144 |
$8,207,189 |
| 14 |
$15,383,044 |
$5,652,057
$1,115,271 |
$8,615,716 |
| 15 |
$16,152,142 |
$5,936,623
$1,171,030 |
$9,044,489 |
| 16 |
$16,959,722 |
$6,235,428
$1,229,580 |
$9,494,714 |
| 17 |
$17,807,410 |
$6,549,072
$1,291,037 |
$9,967,301 |
| 18 |
$18,697,916 |
$6,878,559
$1,355,599 |
$10,463,758 |
| 19 |
$19,632,866 |
$7,224,491
$1,423,383 |
$10,984,992 |
| 20 |
$20,614,428 |
$7,587,669
$1,494,546 |
$11,532,213 |
| 21 |
$21,645,312 |
$7,969,096
$1,569,285 |
$12,106,931 |
| 22 |
$22,727,686 |
$8,369,574
$1,647,757 |
$12,710,355 |
| 23 |
$23,863,718 |
$8,789,906
$1,730,120 |
$13,343,692 |
| 24 |
$25,057,202 |
$9,231,495
$1,816,647 |
$14,009,060 |
| 25 |
$26,309,764 |
$9,694,943
$1,907,458 |
$14,707,363 |
| 26 |
$27,625,740 |
$10,181,854
$2,002,866 |
$15,441,020 |
| 27 |
$29,006,756 |
$10,692,830
$2,102,990 |
$16,210,936 |
| 28 |
$30,457,148 |
$11,229,475
$2,208,143 |
$17,019,530 |
| 29 |
$31,980,168 |
$11,792,993
$2,318,562 |
$17,868,613 |
| 30 |
$33,579,068 |
$12,384,586
$2,434,482 |
$18,760,000 |
|
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