The jackpot for the MEGA Millions draw on Tue Sep 29, 2026, is projected to be $300 Million, with an option for a cash payout of $124.1 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 Tue Sep 29, 2026 |
|---|
| Draw Date | Tue Sep 29, 2026 | | Projected Jackpot | $300,000,000 | | Cash Value | $124,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,100,000 | | Federal Tax(24%) | $29,784,000 | | Additional Federal Tax | $16,093,330 | | State Tax(7.25%) | $8,997,250 | | Net Lumpsum Payment | $69,225,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,515,300 |
$1,630,991
$327,359 |
$2,556,950 |
| 2 |
$4,741,200 |
$1,714,574
$343,737 |
$2,682,889 |
| 3 |
$4,978,200 |
$1,802,264
$360,920 |
$2,815,016 |
| 4 |
$5,227,200 |
$1,894,394
$378,972 |
$2,953,834 |
| 5 |
$5,488,500 |
$1,991,075
$397,916 |
$3,099,509 |
| 6 |
$5,763,000 |
$2,092,640
$417,818 |
$3,252,542 |
| 7 |
$6,051,000 |
$2,199,200
$438,698 |
$3,413,102 |
| 8 |
$6,353,700 |
$2,311,199
$460,643 |
$3,581,858 |
| 9 |
$6,671,400 |
$2,428,748
$483,677 |
$3,758,975 |
| 10 |
$7,005,000 |
$2,552,180
$507,863 |
$3,944,957 |
| 11 |
$7,355,100 |
$2,681,717
$533,245 |
$4,140,138 |
| 12 |
$7,722,900 |
$2,817,803
$559,910 |
$4,345,187 |
| 13 |
$8,109,000 |
$2,960,660
$587,903 |
$4,560,437 |
| 14 |
$8,514,600 |
$3,110,732
$617,309 |
$4,786,559 |
| 15 |
$8,940,300 |
$3,268,241
$648,172 |
$5,023,887 |
| 16 |
$9,387,300 |
$3,433,631
$680,579 |
$5,273,090 |
| 17 |
$9,856,500 |
$3,607,235
$714,596 |
$5,534,669 |
| 18 |
$10,349,400 |
$3,789,608
$750,332 |
$5,809,460 |
| 19 |
$10,866,900 |
$3,981,083
$787,850 |
$6,097,967 |
| 20 |
$11,410,200 |
$4,182,104
$827,240 |
$6,400,856 |
| 21 |
$11,980,800 |
$4,393,226
$868,608 |
$6,718,966 |
| 22 |
$12,579,900 |
$4,614,893
$912,043 |
$7,052,964 |
| 23 |
$13,208,700 |
$4,847,549
$957,631 |
$7,403,520 |
| 24 |
$13,869,300 |
$5,091,971
$1,005,524 |
$7,771,805 |
| 25 |
$14,562,600 |
$5,348,492
$1,055,789 |
$8,158,319 |
| 26 |
$15,291,000 |
$5,618,000
$1,108,598 |
$8,564,402 |
| 27 |
$16,055,400 |
$5,900,828
$1,164,017 |
$8,990,555 |
| 28 |
$16,858,200 |
$6,197,864
$1,222,220 |
$9,438,116 |
| 29 |
$17,701,200 |
$6,509,774
$1,283,337 |
$9,908,089 |
| 30 |
$18,586,200 |
$6,837,224
$1,347,500 |
$10,401,476 |
|
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