New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New York, your state will take 8.82% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New York MEGA Millions Jackpot/Cash Option for Tue Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(8.82%)	$1,173,060
Net Lumpsum Payment	$7,245,610

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$38,497	$276,154
2	$458,316	-$129,907 -$40,423	$287,986
3	$481,226	-$138,384 -$42,444	$300,398
4	$505,296	-$147,290 -$44,567	$313,439
5	$530,555	-$156,636 -$46,795	$327,124
6	$557,090	-$166,454 -$49,135	$341,501
7	$584,930	-$176,754 -$51,591	$356,585
8	$614,191	-$187,581 -$54,172	$372,438
9	$644,902	-$198,944 -$56,880	$389,078
10	$677,150	-$210,876 -$59,725	$406,549
11	$710,993	-$223,398 -$62,710	$424,885
12	$746,547	-$236,553 -$65,845	$444,149
13	$783,870	-$250,362 -$69,137	$464,371
14	$823,078	-$264,869 -$72,595	$485,614
15	$864,229	-$280,095 -$76,225	$507,909
16	$907,439	-$296,083 -$80,036	$531,320
17	$952,795	-$312,865 -$84,037	$555,893
18	$1,000,442	-$330,494 -$88,239	$581,709
19	$1,050,467	-$349,003 -$92,651	$608,813
20	$1,102,986	-$368,435 -$97,283	$637,268
21	$1,158,144	-$388,844 -$102,148	$667,152
22	$1,216,057	-$410,271 -$107,256	$698,530
23	$1,276,841	-$432,762 -$112,617	$731,462
24	$1,340,699	-$456,389 -$118,250	$766,060
25	$1,407,718	-$481,186 -$124,161	$802,371
26	$1,478,130	-$507,238 -$130,371	$840,521
27	$1,552,022	-$534,579 -$136,888	$880,555
28	$1,629,626	-$563,292 -$143,733	$922,601
29	$1,711,116	-$593,443 -$150,920	$966,753
30	$1,796,666	-$625,097 -$158,466	$1,013,103