New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 27, 2025 is estimated to be $348 Million, with a cash option of 155.5 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 Jun 27, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 27, 2025	$348,000,000	$155,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$155,500,000
Federal Tax(24%)	$37,320,000
Additional Federal Tax	$20,175,330
State Tax(8.82%)	$13,715,100
Net Lumpsum Payment	$84,289,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,237,748	-$1,898,297 -$461,969	$2,877,482
2	$5,499,792	-$1,995,253 -$485,082	$3,019,457
3	$5,774,712	-$2,096,974 -$509,330	$3,168,408
4	$6,063,552	-$2,203,845 -$534,805	$3,324,902
5	$6,366,660	-$2,315,995 -$561,539	$3,489,126
6	$6,685,080	-$2,433,810 -$589,624	$3,661,646
7	$7,019,160	-$2,557,420 -$619,090	$3,842,650
8	$7,370,292	-$2,687,338 -$650,060	$4,032,894
9	$7,738,824	-$2,823,695 -$682,564	$4,232,565
10	$8,125,800	-$2,966,876 -$716,696	$4,442,228
11	$8,531,916	-$3,117,139 -$752,515	$4,662,262
12	$8,958,564	-$3,274,999 -$790,145	$4,893,420
13	$9,406,440	-$3,440,713 -$829,648	$5,136,079
14	$9,876,936	-$3,614,797 -$871,146	$5,390,993
15	$10,370,748	-$3,797,507 -$914,700	$5,658,541
16	$10,889,268	-$3,989,360 -$960,433	$5,939,475
17	$11,433,540	-$4,190,740 -$1,008,438	$6,234,362
18	$12,005,304	-$4,402,293 -$1,058,868	$6,544,143
19	$12,605,604	-$4,624,404 -$1,111,814	$6,869,386
20	$13,235,832	-$4,857,588 -$1,167,400	$7,210,844
21	$13,897,728	-$5,102,490 -$1,225,780	$7,569,458
22	$14,592,684	-$5,359,623 -$1,287,075	$7,945,986
23	$15,322,092	-$5,629,504 -$1,351,409	$8,341,179
24	$16,088,388	-$5,913,034 -$1,418,996	$8,756,358
25	$16,892,616	-$6,210,598 -$1,489,929	$9,192,089
26	$17,737,560	-$6,523,228 -$1,564,453	$9,649,879
27	$18,624,264	-$6,851,308 -$1,642,660	$10,130,296
28	$19,555,512	-$7,195,870 -$1,724,796	$10,634,846
29	$20,533,392	-$7,557,685 -$1,811,045	$11,164,662
30	$21,559,992	-$7,937,527 -$1,901,591	$11,720,874