The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(7.25%) | $9,323,500 | | Net Lumpsum Payment | $71,734,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$322,994 |
$2,523,386 |
| 2 |
$4,677,984 |
$1,691,184
$339,154 |
$2,647,646 |
| 3 |
$4,911,824 |
$1,777,705
$356,107 |
$2,778,012 |
| 4 |
$5,157,504 |
$1,868,607
$373,919 |
$2,914,978 |
| 5 |
$5,415,320 |
$1,963,999
$392,611 |
$3,058,710 |
| 6 |
$5,686,160 |
$2,064,210
$412,247 |
$3,209,703 |
| 7 |
$5,970,320 |
$2,169,349
$432,848 |
$3,368,123 |
| 8 |
$6,268,984 |
$2,279,854
$454,501 |
$3,534,629 |
| 9 |
$6,582,448 |
$2,395,836
$477,227 |
$3,709,385 |
| 10 |
$6,911,600 |
$2,517,622
$501,091 |
$3,892,887 |
| 11 |
$7,257,032 |
$2,645,432
$526,135 |
$4,085,465 |
| 12 |
$7,619,928 |
$2,779,704
$552,445 |
$4,287,779 |
| 13 |
$8,000,880 |
$2,920,656
$580,064 |
$4,500,160 |
| 14 |
$8,401,072 |
$3,068,727
$609,078 |
$4,723,267 |
| 15 |
$8,821,096 |
$3,224,136
$639,529 |
$4,957,431 |
| 16 |
$9,262,136 |
$3,387,321
$671,505 |
$5,203,310 |
| 17 |
$9,725,080 |
$3,558,610
$705,068 |
$5,461,402 |
| 18 |
$10,211,408 |
$3,738,551
$740,327 |
$5,732,530 |
| 19 |
$10,722,008 |
$3,927,473
$777,346 |
$6,017,189 |
| 20 |
$11,258,064 |
$4,125,814
$816,210 |
$6,316,040 |
| 21 |
$11,821,056 |
$4,334,121
$857,027 |
$6,629,908 |
| 22 |
$12,412,168 |
$4,552,833
$899,882 |
$6,959,453 |
| 23 |
$13,032,584 |
$4,782,386
$944,862 |
$7,305,336 |
| 24 |
$13,684,376 |
$5,023,550
$992,117 |
$7,668,709 |
| 25 |
$14,368,432 |
$5,276,650
$1,041,711 |
$8,050,071 |
| 26 |
$15,087,120 |
$5,542,565
$1,093,816 |
$8,450,739 |
| 27 |
$15,841,328 |
$5,821,622
$1,148,496 |
$8,871,210 |
| 28 |
$16,633,424 |
$6,114,697
$1,205,923 |
$9,312,804 |
| 29 |
$17,465,184 |
$6,422,448
$1,266,226 |
$9,776,510 |
| 30 |
$18,338,384 |
$6,745,532
$1,329,533 |
$10,263,319 |
|
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