The jackpot for the MEGA Millions draw on Fri May 1, 2026, is projected to be $178 Million, with an option for a cash payout of $79.6 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 May 1, 2026 |
|---|
| Draw Date | Fri May 1, 2026 | | Projected Jackpot | $178,000,000 | | Cash Value | $79,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,600,000 | | Federal Tax(24%) | $19,104,000 | | Additional Federal Tax | $10,308,330 | | State Tax(7.25%) | $5,771,000 | | Net Lumpsum Payment | $44,416,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,679,078 |
$951,589
$194,233 |
$1,533,256 |
| 2 |
$2,813,112 |
$1,001,182
$203,951 |
$1,607,979 |
| 3 |
$2,953,732 |
$1,053,211
$214,146 |
$1,686,375 |
| 4 |
$3,101,472 |
$1,107,875
$224,857 |
$1,768,740 |
| 5 |
$3,256,510 |
$1,165,239
$236,097 |
$1,855,174 |
| 6 |
$3,419,380 |
$1,225,501
$247,905 |
$1,945,974 |
| 7 |
$3,590,260 |
$1,288,727
$260,294 |
$2,041,239 |
| 8 |
$3,769,862 |
$1,355,179
$273,315 |
$2,141,368 |
| 9 |
$3,958,364 |
$1,424,925
$286,981 |
$2,246,458 |
| 10 |
$4,156,300 |
$1,498,161
$301,332 |
$2,356,807 |
| 11 |
$4,364,026 |
$1,575,020
$316,392 |
$2,472,614 |
| 12 |
$4,582,254 |
$1,655,764
$332,213 |
$2,594,277 |
| 13 |
$4,811,340 |
$1,740,526
$348,822 |
$2,721,992 |
| 14 |
$5,051,996 |
$1,829,569
$366,270 |
$2,856,157 |
| 15 |
$5,304,578 |
$1,923,024
$384,582 |
$2,996,972 |
| 16 |
$5,569,798 |
$2,021,156
$403,810 |
$3,144,832 |
| 17 |
$5,848,190 |
$2,124,161
$423,994 |
$3,300,035 |
| 18 |
$6,140,644 |
$2,232,369
$445,197 |
$3,463,078 |
| 19 |
$6,447,694 |
$2,345,977
$467,458 |
$3,634,259 |
| 20 |
$6,770,052 |
$2,465,250
$490,829 |
$3,813,973 |
| 21 |
$7,108,608 |
$2,590,515
$515,374 |
$4,002,719 |
| 22 |
$7,464,074 |
$2,722,038
$541,145 |
$4,200,891 |
| 23 |
$7,837,162 |
$2,860,080
$568,194 |
$4,408,888 |
| 24 |
$8,229,118 |
$3,005,104
$596,611 |
$4,627,403 |
| 25 |
$8,640,476 |
$3,157,307
$626,435 |
$4,856,734 |
| 26 |
$9,072,660 |
$3,317,215
$657,768 |
$5,097,677 |
| 27 |
$9,526,204 |
$3,485,026
$690,650 |
$5,350,528 |
| 28 |
$10,002,532 |
$3,661,267
$725,184 |
$5,616,081 |
| 29 |
$10,502,712 |
$3,846,334
$761,447 |
$5,894,931 |
| 30 |
$11,027,812 |
$4,040,621
$799,516 |
$6,187,675 |
|
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