New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 26, 2025 is estimated to be $253 Million, with a cash option of 113.8 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 Aug 26, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 26, 2025	$253,000,000	$113,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$113,800,000
Federal Tax(24%)	$27,312,000
Additional Federal Tax	$14,754,330
State Tax(8.82%)	$10,037,160
Net Lumpsum Payment	$61,696,510

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,807,903	-$1,369,254 -$335,857	$2,102,792
2	$3,998,412	-$1,439,743 -$352,660	$2,206,009
3	$4,198,282	-$1,513,695 -$370,288	$2,314,299
4	$4,408,272	-$1,591,391 -$388,810	$2,428,071
5	$4,628,635	-$1,672,925 -$408,246	$2,547,464
6	$4,860,130	-$1,758,578 -$428,663	$2,672,889
7	$5,103,010	-$1,848,444 -$450,085	$2,804,481
8	$5,358,287	-$1,942,897 -$472,601	$2,942,789
9	$5,626,214	-$2,042,030 -$496,232	$3,087,952
10	$5,907,550	-$2,146,124 -$521,046	$3,240,380
11	$6,202,801	-$2,255,367 -$547,087	$3,400,347
12	$6,512,979	-$2,370,133 -$574,445	$3,568,401
13	$6,838,590	-$2,490,609 -$603,164	$3,744,817
14	$7,180,646	-$2,617,169 -$633,333	$3,930,144
15	$7,539,653	-$2,750,002 -$664,997	$4,124,654
16	$7,916,623	-$2,889,481 -$698,246	$4,328,896
17	$8,312,315	-$3,035,887 -$733,146	$4,543,282
18	$8,727,994	-$3,189,688 -$769,809	$4,768,497
19	$9,164,419	-$3,351,165 -$808,302	$5,004,952
20	$9,622,602	-$3,520,693 -$848,713	$5,253,196
21	$10,103,808	-$3,698,739 -$891,156	$5,513,913
22	$10,609,049	-$3,885,679 -$935,718	$5,787,652
23	$11,139,337	-$4,081,885 -$982,490	$6,074,962
24	$11,696,443	-$4,288,014 -$1,031,626	$6,376,803
25	$12,281,126	-$4,504,347 -$1,083,195	$6,693,584
26	$12,895,410	-$4,731,632 -$1,137,375	$7,026,403
27	$13,540,054	-$4,970,150 -$1,194,233	$7,375,671
28	$14,217,082	-$5,220,651 -$1,253,947	$7,742,484
29	$14,928,012	-$5,483,695 -$1,316,651	$8,127,666
30	$15,674,362	-$5,759,844 -$1,382,479	$8,532,039