New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Oct 3, 2025 is estimated to be $520 Million, with a cash option of 240.1 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 Oct 3, 2025

Draw Date	Jackpot	Cash Option
Fri Oct 3, 2025	$520,000,000	$240,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$240,100,000
Federal Tax(24%)	$57,624,000
Additional Federal Tax	$31,173,330
State Tax(8.82%)	$21,176,820
Net Lumpsum Payment	$130,125,850

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,826,520	-$2,856,143 -$690,299	$4,280,078
2	$8,218,080	-$3,001,020 -$724,835	$4,492,225
3	$8,628,880	-$3,153,016 -$761,067	$4,714,797
4	$9,060,480	-$3,312,708 -$799,134	$4,948,638
5	$9,513,400	-$3,480,288 -$839,082	$5,194,030
6	$9,989,200	-$3,656,334 -$881,047	$5,451,819
7	$10,488,400	-$3,841,038 -$925,077	$5,722,285
8	$11,013,080	-$4,035,170 -$971,354	$6,006,556
9	$11,563,760	-$4,238,922 -$1,019,924	$6,304,914
10	$12,142,000	-$4,452,870 -$1,070,924	$6,618,206
11	$12,748,840	-$4,677,401 -$1,124,448	$6,946,991
12	$13,386,360	-$4,913,284 -$1,180,677	$7,292,399
13	$14,055,600	-$5,160,902 -$1,239,704	$7,654,994
14	$14,758,640	-$5,421,027 -$1,301,712	$8,035,901
15	$15,496,520	-$5,694,043 -$1,366,793	$8,435,684
16	$16,271,320	-$5,980,719 -$1,435,130	$8,855,471
17	$17,084,600	-$6,281,632 -$1,506,862	$9,296,106
18	$17,938,960	-$6,597,746 -$1,582,216	$9,758,998
19	$18,835,960	-$6,929,636 -$1,661,332	$10,244,992
20	$19,777,680	-$7,278,072 -$1,744,391	$10,755,217
21	$20,766,720	-$7,644,017 -$1,831,625	$11,291,078
22	$21,805,160	-$8,028,240 -$1,923,215	$11,853,705
23	$22,895,080	-$8,431,510 -$2,019,346	$12,444,224
24	$24,040,120	-$8,855,175 -$2,120,339	$13,064,606
25	$25,241,840	-$9,299,811 -$2,226,330	$13,715,699
26	$26,504,400	-$9,766,958 -$2,337,688	$14,399,754
27	$27,829,360	-$10,257,194 -$2,454,550	$15,117,616
28	$29,220,880	-$10,772,056 -$2,577,282	$15,871,542
29	$30,682,080	-$11,312,700 -$2,706,159	$16,663,221
30	$32,216,080	-$11,880,280 -$2,841,458	$17,494,342