New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 22, 2024 is estimated to be $453 Million, with a cash option of 209.6 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 Nov 22, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 22, 2024	$453,000,000	$209,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$209,600,000
Federal Tax(24%)	$50,304,000
Additional Federal Tax	$27,208,330
State Tax(8.82%)	$18,486,720
Net Lumpsum Payment	$113,600,950

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$601,357	$3,733,718
2	$7,159,212	-$2,609,239 -$631,442	$3,918,531
3	$7,517,082	-$2,741,651 -$663,007	$4,112,424
4	$7,893,072	-$2,880,767 -$696,169	$4,316,136
5	$8,287,635	-$3,026,755 -$730,969	$4,529,911
6	$8,702,130	-$3,180,118 -$767,528	$4,754,484
7	$9,137,010	-$3,341,024 -$805,884	$4,990,102
8	$9,594,087	-$3,510,143 -$846,198	$5,237,746
9	$10,073,814	-$3,687,642 -$888,510	$5,497,662
10	$10,577,550	-$3,874,024 -$932,940	$5,770,586
11	$11,106,201	-$4,069,625 -$979,567	$6,057,009
12	$11,661,579	-$4,275,115 -$1,028,551	$6,357,913
13	$12,244,590	-$4,490,829 -$1,079,973	$6,673,788
14	$12,857,046	-$4,717,437 -$1,133,991	$7,005,618
15	$13,499,853	-$4,955,276 -$1,190,687	$7,353,890
16	$14,174,823	-$5,205,015 -$1,250,219	$7,719,589
17	$14,883,315	-$5,467,157 -$1,312,708	$8,103,450
18	$15,627,594	-$5,742,540 -$1,378,354	$8,506,700
19	$16,409,019	-$6,031,667 -$1,447,275	$8,930,077
20	$17,229,402	-$6,335,209 -$1,519,633	$9,374,560
21	$18,091,008	-$6,654,003 -$1,595,627	$9,841,378
22	$18,995,649	-$6,988,721 -$1,675,416	$10,331,512
23	$19,945,137	-$7,340,031 -$1,759,161	$10,845,945
24	$20,942,643	-$7,709,108 -$1,847,141	$11,386,394
25	$21,989,526	-$8,096,455 -$1,939,476	$11,953,595
26	$23,089,410	-$8,503,412 -$2,036,486	$12,549,512
27	$24,243,654	-$8,930,482 -$2,138,290	$13,174,882
28	$25,455,882	-$9,379,007 -$2,245,209	$13,831,666
29	$26,728,812	-$9,849,991 -$2,357,481	$14,521,340
30	$28,065,162	-$10,344,440 -$2,475,347	$15,245,375