New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(8.82%)	$7,294,140
Net Lumpsum Payment	$44,846,530

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$240,277	$1,515,658
2	$2,860,524	-$1,018,724 -$252,298	$1,589,502
3	$3,003,514	-$1,071,631 -$264,910	$1,666,973
4	$3,153,744	-$1,127,216 -$278,160	$1,748,368
5	$3,311,395	-$1,185,547 -$292,065	$1,833,783
6	$3,477,010	-$1,246,824 -$306,672	$1,923,514
7	$3,650,770	-$1,311,115 -$321,998	$2,017,657
8	$3,833,399	-$1,378,688 -$338,106	$2,116,605
9	$4,025,078	-$1,449,609 -$355,012	$2,220,457
10	$4,226,350	-$1,524,080 -$372,764	$2,329,506
11	$4,437,577	-$1,602,234 -$391,394	$2,443,949
12	$4,659,483	-$1,684,339 -$410,966	$2,564,178
13	$4,892,430	-$1,770,529 -$431,512	$2,690,389
14	$5,137,142	-$1,861,073 -$453,096	$2,822,973
15	$5,393,981	-$1,956,103 -$475,749	$2,962,129
16	$5,663,671	-$2,055,889 -$499,536	$3,108,246
17	$5,946,755	-$2,160,630 -$524,504	$3,261,621
18	$6,244,138	-$2,270,661 -$550,733	$3,422,744
19	$6,556,363	-$2,386,185 -$578,271	$3,591,907
20	$6,884,154	-$2,507,467 -$607,182	$3,769,505
21	$7,228,416	-$2,634,844 -$637,546	$3,956,026
22	$7,589,873	-$2,768,583 -$669,427	$4,151,863
23	$7,969,249	-$2,908,953 -$702,888	$4,357,408
24	$8,367,811	-$3,056,420 -$738,041	$4,573,350
25	$8,786,102	-$3,211,188 -$774,934	$4,799,980
26	$9,225,570	-$3,373,791 -$813,695	$5,038,084
27	$9,686,758	-$3,544,431 -$854,372	$5,287,955
28	$10,171,114	-$3,723,643 -$897,092	$5,550,379
29	$10,679,724	-$3,911,828 -$941,952	$5,825,944
30	$11,213,674	-$4,109,390 -$989,046	$6,115,238