The jackpot for the MEGA Millions draw on Fri Mar 14, 2025, is projected to be $277 Million, with an option for a cash payout of $129.5 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 Mar 14, 2025 |
|---|
| Draw Date | Fri Mar 14, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $129,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $129,500,000 | | Federal Tax(24%) | $31,080,000 | | Additional Federal Tax | $16,795,330 | | State Tax(7.25%) | $9,388,750 | | Net Lumpsum Payment | $72,235,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$302,262 |
$2,363,958 |
| 2 |
$4,377,708 |
$1,580,082
$317,384 |
$2,480,242 |
| 3 |
$4,596,538 |
$1,661,049
$333,249 |
$2,602,240 |
| 4 |
$4,826,448 |
$1,746,116
$349,917 |
$2,730,415 |
| 5 |
$5,067,715 |
$1,835,385
$367,409 |
$2,864,921 |
| 6 |
$5,321,170 |
$1,929,163
$385,785 |
$3,006,222 |
| 7 |
$5,587,090 |
$2,027,554
$405,064 |
$3,154,472 |
| 8 |
$5,866,583 |
$2,130,966
$425,327 |
$3,310,290 |
| 9 |
$6,159,926 |
$2,239,503
$446,595 |
$3,473,828 |
| 10 |
$6,467,950 |
$2,353,472
$468,926 |
$3,645,552 |
| 11 |
$6,791,209 |
$2,473,078
$492,363 |
$3,825,768 |
| 12 |
$7,130,811 |
$2,598,730
$516,984 |
$4,015,097 |
| 13 |
$7,487,310 |
$2,730,635
$542,830 |
$4,213,845 |
| 14 |
$7,861,814 |
$2,869,202
$569,982 |
$4,422,630 |
| 15 |
$8,254,877 |
$3,014,635
$598,479 |
$4,641,763 |
| 16 |
$8,667,607 |
$3,167,345
$628,402 |
$4,871,860 |
| 17 |
$9,100,835 |
$3,327,639
$659,811 |
$5,113,385 |
| 18 |
$9,555,946 |
$3,496,030
$692,806 |
$5,367,110 |
| 19 |
$10,033,771 |
$3,672,826
$727,448 |
$5,633,497 |
| 20 |
$10,535,418 |
$3,858,435
$763,818 |
$5,913,165 |
| 21 |
$11,062,272 |
$4,053,371
$802,015 |
$6,206,886 |
| 22 |
$11,615,441 |
$4,258,044
$842,119 |
$6,515,278 |
| 23 |
$12,196,033 |
$4,472,863
$884,212 |
$6,838,958 |
| 24 |
$12,805,987 |
$4,698,546
$928,434 |
$7,179,007 |
| 25 |
$13,446,134 |
$4,935,400
$974,845 |
$7,535,889 |
| 26 |
$14,118,690 |
$5,184,246
$1,023,605 |
$7,910,839 |
| 27 |
$14,824,486 |
$5,445,390
$1,074,775 |
$8,304,321 |
| 28 |
$15,565,738 |
$5,719,653
$1,128,516 |
$8,717,569 |
| 29 |
$16,344,108 |
$6,007,650
$1,184,948 |
$9,151,510 |
| 30 |
$17,161,258 |
$6,309,996
$1,244,191 |
$9,607,071 |
|
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