The jackpot for the MEGA Millions draw on Tue Jul 7, 2026, is projected to be $576 Million, with an option for a cash payout of $253.9 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 Jul 7, 2026 |
|---|
| Draw Date | Tue Jul 7, 2026 | | Projected Jackpot | $576,000,000 | | Cash Value | $253,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $253,900,000 | | Federal Tax(24%) | $60,936,000 | | Additional Federal Tax | $32,967,330 | | State Tax(7.25%) | $18,407,750 | | Net Lumpsum Payment | $141,588,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,669,376 |
$3,168,000
$628,530 |
$4,872,846 |
| 2 |
$9,103,104 |
$3,328,479
$659,975 |
$5,114,650 |
| 3 |
$9,558,144 |
$3,496,844
$692,965 |
$5,368,335 |
| 4 |
$10,036,224 |
$3,673,733
$727,626 |
$5,634,865 |
| 5 |
$10,537,920 |
$3,859,361
$763,999 |
$5,914,560 |
| 6 |
$11,064,960 |
$4,054,366
$802,210 |
$6,208,384 |
| 7 |
$11,617,920 |
$4,258,961
$842,299 |
$6,516,660 |
| 8 |
$12,199,104 |
$4,473,999
$884,435 |
$6,840,670 |
| 9 |
$12,809,088 |
$4,699,693
$928,659 |
$7,180,736 |
| 10 |
$13,449,600 |
$4,936,682
$975,096 |
$7,537,822 |
| 11 |
$14,121,792 |
$5,185,393
$1,023,830 |
$7,912,569 |
| 12 |
$14,827,968 |
$5,446,679
$1,075,028 |
$8,306,261 |
| 13 |
$15,569,280 |
$5,720,964
$1,128,773 |
$8,719,543 |
| 14 |
$16,348,032 |
$6,009,102
$1,185,232 |
$9,153,698 |
| 15 |
$17,165,376 |
$6,311,520
$1,244,490 |
$9,609,366 |
| 16 |
$18,023,616 |
$6,629,068
$1,306,712 |
$10,087,836 |
| 17 |
$18,924,480 |
$6,962,388
$1,372,025 |
$10,590,067 |
| 18 |
$19,870,848 |
$7,312,544
$1,440,636 |
$11,117,668 |
| 19 |
$20,864,448 |
$7,680,176
$1,512,672 |
$11,671,600 |
| 20 |
$21,907,584 |
$8,066,136
$1,588,300 |
$12,253,148 |
| 21 |
$23,003,136 |
$8,471,491
$1,667,727 |
$12,863,918 |
| 22 |
$24,153,408 |
$8,897,091
$1,751,122 |
$13,505,195 |
| 23 |
$25,360,704 |
$9,343,791
$1,838,651 |
$14,178,262 |
| 24 |
$26,629,056 |
$9,813,081
$1,930,607 |
$14,885,368 |
| 25 |
$27,960,192 |
$10,305,601
$2,027,114 |
$15,627,477 |
| 26 |
$29,358,720 |
$10,823,057
$2,128,507 |
$16,407,156 |
| 27 |
$30,826,368 |
$11,366,087
$2,234,912 |
$17,225,369 |
| 28 |
$32,367,744 |
$11,936,396
$2,346,661 |
$18,084,687 |
| 29 |
$33,986,304 |
$12,535,263
$2,464,007 |
$18,987,034 |
| 30 |
$35,685,504 |
$13,163,967
$2,587,199 |
$19,934,338 |
|
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