New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 25, 2025 is estimated to be $60 Million, with a cash option of 26.9 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 Fri Apr 25, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 25, 2025	$60,000,000	$26,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$26,900,000
Federal Tax(24%)	$6,456,000
Additional Federal Tax	$3,457,330
State Tax(8.82%)	$2,372,580
Net Lumpsum Payment	$14,614,090

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$79,650	$528,947
2	$948,240	-$311,179 -$83,635	$553,426
3	$995,640	-$328,717 -$87,815	$579,108
4	$1,045,440	-$347,143 -$92,208	$606,089
5	$1,097,700	-$366,479 -$96,817	$634,404
6	$1,152,600	-$386,792 -$101,659	$664,149
7	$1,210,200	-$408,104 -$106,740	$695,356
8	$1,270,740	-$430,504 -$112,079	$728,157
9	$1,334,280	-$454,014 -$117,683	$762,583
10	$1,401,000	-$478,700 -$123,568	$798,732
11	$1,471,020	-$504,608 -$129,744	$836,668
12	$1,544,580	-$531,825 -$136,232	$876,523
13	$1,621,800	-$560,396 -$143,043	$918,361
14	$1,702,920	-$590,411 -$150,198	$962,311
15	$1,788,060	-$621,913 -$157,707	$1,008,440
16	$1,877,460	-$654,991 -$165,592	$1,056,877
17	$1,971,300	-$689,711 -$173,869	$1,107,720
18	$2,069,880	-$726,186 -$182,563	$1,161,131
19	$2,173,380	-$764,481 -$191,692	$1,217,207
20	$2,282,040	-$804,685 -$201,276	$1,276,079
21	$2,396,160	-$846,910 -$211,341	$1,337,909
22	$2,515,980	-$891,243 -$221,909	$1,402,828
23	$2,641,740	-$937,774 -$233,001	$1,470,965
24	$2,773,860	-$986,659 -$244,654	$1,542,547
25	$2,912,520	-$1,037,963 -$256,884	$1,617,673
26	$3,058,200	-$1,091,864 -$269,733	$1,696,603
27	$3,211,080	-$1,148,430 -$283,217	$1,779,433
28	$3,371,640	-$1,207,837 -$297,379	$1,866,424
29	$3,540,240	-$1,270,219 -$312,249	$1,957,772
30	$3,717,240	-$1,335,709 -$327,861	$2,053,670