The jackpot for the MEGA Millions draw on Tue Jun 16, 2026, is projected to be $430 Million, with an option for a cash payout of $191.2 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 Jun 16, 2026 |
|---|
| Draw Date | Tue Jun 16, 2026 | | Projected Jackpot | $430,000,000 | | Cash Value | $191,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $191,200,000 | | Federal Tax(24%) | $45,888,000 | | Additional Federal Tax | $24,816,330 | | State Tax(7.25%) | $13,862,000 | | Net Lumpsum Payment | $106,633,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,471,930 |
$2,354,944
$469,215 |
$3,647,771 |
| 2 |
$6,795,720 |
$2,474,747
$492,690 |
$3,828,283 |
| 3 |
$7,135,420 |
$2,600,436
$517,318 |
$4,017,666 |
| 4 |
$7,492,320 |
$2,732,489
$543,193 |
$4,216,638 |
| 5 |
$7,866,850 |
$2,871,065
$570,347 |
$4,425,438 |
| 6 |
$8,260,300 |
$3,016,641
$598,872 |
$4,644,787 |
| 7 |
$8,673,100 |
$3,169,377
$628,800 |
$4,874,923 |
| 8 |
$9,106,970 |
$3,329,909
$660,255 |
$5,116,806 |
| 9 |
$9,562,340 |
$3,498,396
$693,270 |
$5,370,674 |
| 10 |
$10,040,500 |
$3,675,315
$727,936 |
$5,637,249 |
| 11 |
$10,542,310 |
$3,860,985
$764,317 |
$5,917,008 |
| 12 |
$11,069,490 |
$4,056,042
$802,538 |
$6,210,910 |
| 13 |
$11,622,900 |
$4,260,803
$842,660 |
$6,519,437 |
| 14 |
$12,204,260 |
$4,475,907
$884,809 |
$6,843,544 |
| 15 |
$12,814,430 |
$4,701,669
$929,046 |
$7,183,715 |
| 16 |
$13,455,130 |
$4,938,728
$975,497 |
$7,540,905 |
| 17 |
$14,127,650 |
$5,187,561
$1,024,255 |
$7,915,834 |
| 18 |
$14,834,140 |
$5,448,962
$1,075,475 |
$8,309,703 |
| 19 |
$15,575,890 |
$5,723,410
$1,129,252 |
$8,723,228 |
| 20 |
$16,354,620 |
$6,011,540
$1,185,710 |
$9,157,370 |
| 21 |
$17,172,480 |
$6,314,148
$1,245,005 |
$9,613,327 |
| 22 |
$18,031,190 |
$6,631,871
$1,307,261 |
$10,092,058 |
| 23 |
$18,932,470 |
$6,965,344
$1,372,604 |
$10,594,522 |
| 24 |
$19,879,330 |
$7,315,682
$1,441,251 |
$11,122,397 |
| 25 |
$20,873,060 |
$7,683,363
$1,513,297 |
$11,676,400 |
| 26 |
$21,917,100 |
$8,069,657
$1,588,990 |
$12,258,453 |
| 27 |
$23,012,740 |
$8,475,044
$1,668,424 |
$12,869,272 |
| 28 |
$24,163,420 |
$8,900,796
$1,751,848 |
$13,510,776 |
| 29 |
$25,371,720 |
$9,347,867
$1,839,450 |
$14,184,403 |
| 30 |
$26,640,220 |
$9,817,212
$1,931,416 |
$14,891,592 |
|
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