The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 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 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(7.25%) | $23,446,500 | | Net Lumpsum Payment | $180,335,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$810,760 |
$6,274,132 |
| 2 |
$11,742,372 |
$4,305,008
$851,322 |
$6,586,042 |
| 3 |
$12,329,342 |
$4,522,187
$893,877 |
$6,913,278 |
| 4 |
$12,946,032 |
$4,750,362
$938,587 |
$7,257,083 |
| 5 |
$13,593,185 |
$4,989,809
$985,506 |
$7,617,870 |
| 6 |
$14,273,030 |
$5,241,351
$1,034,795 |
$7,996,884 |
| 7 |
$14,986,310 |
$5,505,265
$1,086,507 |
$8,394,538 |
| 8 |
$15,735,997 |
$5,782,649
$1,140,860 |
$8,812,488 |
| 9 |
$16,522,834 |
$6,073,779
$1,197,905 |
$9,251,150 |
| 10 |
$17,349,050 |
$6,379,479
$1,257,806 |
$9,711,765 |
| 11 |
$18,216,131 |
$6,700,299
$1,320,669 |
$10,195,163 |
| 12 |
$19,127,049 |
$7,037,339
$1,386,711 |
$10,702,999 |
| 13 |
$20,083,290 |
$7,391,148
$1,456,039 |
$11,236,103 |
| 14 |
$21,087,826 |
$7,762,826
$1,528,867 |
$11,796,133 |
| 15 |
$22,142,143 |
$8,152,923
$1,605,305 |
$12,383,915 |
| 16 |
$23,249,213 |
$8,562,539
$1,685,568 |
$13,001,106 |
| 17 |
$24,411,265 |
$8,992,498
$1,769,817 |
$13,648,950 |
| 18 |
$25,632,014 |
$9,444,176
$1,858,321 |
$14,329,517 |
| 19 |
$26,913,689 |
$9,918,395
$1,951,242 |
$15,044,052 |
| 20 |
$28,259,262 |
$10,416,257
$2,048,796 |
$15,794,209 |
| 21 |
$29,672,448 |
$10,939,136
$2,151,252 |
$16,582,060 |
| 22 |
$31,156,219 |
$11,488,131
$2,258,826 |
$17,409,262 |
| 23 |
$32,713,547 |
$12,064,343
$2,371,732 |
$18,277,472 |
| 24 |
$34,349,633 |
$12,669,695
$2,490,348 |
$19,189,590 |
| 25 |
$36,066,706 |
$13,305,012
$2,614,836 |
$20,146,858 |
| 26 |
$37,870,710 |
$13,972,493
$2,745,626 |
$21,152,591 |
| 27 |
$39,763,874 |
$14,672,964
$2,882,881 |
$22,208,029 |
| 28 |
$41,752,142 |
$15,408,623
$3,027,030 |
$23,316,489 |
| 29 |
$43,839,972 |
$16,181,120
$3,178,398 |
$24,480,454 |
| 30 |
$46,031,822 |
$16,992,105
$3,337,307 |
$25,702,410 |
|
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