New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 7, 2026 is estimated to be $576 Million, with a cash option of 253.9 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 Tue Jul 7, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 7, 2026	$576,000,000	$253,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$253,900,000
Federal Tax(24%)	$60,936,000
Additional Federal Tax	$32,967,330
State Tax(8.82%)	$22,393,980
Net Lumpsum Payment	$137,602,690

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,669,376	-$3,168,000 -$764,639	$4,736,737
2	$9,103,104	-$3,328,479 -$802,894	$4,971,731
3	$9,558,144	-$3,496,844 -$843,028	$5,218,272
4	$10,036,224	-$3,673,733 -$885,195	$5,477,296
5	$10,537,920	-$3,859,361 -$929,445	$5,749,114
6	$11,064,960	-$4,054,366 -$975,929	$6,034,665
7	$11,617,920	-$4,258,961 -$1,024,701	$6,334,258
8	$12,199,104	-$4,473,999 -$1,075,961	$6,649,144
9	$12,809,088	-$4,699,693 -$1,129,762	$6,979,633
10	$13,449,600	-$4,936,682 -$1,186,255	$7,326,663
11	$14,121,792	-$5,185,393 -$1,245,542	$7,690,857
12	$14,827,968	-$5,446,679 -$1,307,827	$8,073,462
13	$15,569,280	-$5,720,964 -$1,373,210	$8,475,106
14	$16,348,032	-$6,009,102 -$1,441,896	$8,897,034
15	$17,165,376	-$6,311,520 -$1,513,986	$9,339,870
16	$18,023,616	-$6,629,068 -$1,589,683	$9,804,865
17	$18,924,480	-$6,962,388 -$1,669,139	$10,292,953
18	$19,870,848	-$7,312,544 -$1,752,609	$10,805,695
19	$20,864,448	-$7,680,176 -$1,840,244	$11,344,028
20	$21,907,584	-$8,066,136 -$1,932,249	$11,909,199
21	$23,003,136	-$8,471,491 -$2,028,877	$12,502,768
22	$24,153,408	-$8,897,091 -$2,130,331	$13,125,986
23	$25,360,704	-$9,343,791 -$2,236,814	$13,780,099
24	$26,629,056	-$9,813,081 -$2,348,683	$14,467,292
25	$27,960,192	-$10,305,601 -$2,466,089	$15,188,502
26	$29,358,720	-$10,823,057 -$2,589,439	$15,946,224
27	$30,826,368	-$11,366,087 -$2,718,886	$16,741,395
28	$32,367,744	-$11,936,396 -$2,854,835	$17,576,513
29	$33,986,304	-$12,535,263 -$2,997,592	$18,453,449
30	$35,685,504	-$13,163,967 -$3,147,461	$19,374,076