New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(8.82%)	$5,988,780
Net Lumpsum Payment	$36,827,890

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$199,125	$1,262,864
2	$2,370,600	-$837,452 -$209,087	$1,324,061
3	$2,489,100	-$881,297 -$219,539	$1,388,264
4	$2,613,600	-$927,362 -$230,520	$1,455,718
5	$2,744,250	-$975,703 -$242,043	$1,526,504
6	$2,881,500	-$1,026,485 -$254,148	$1,600,867
7	$3,025,500	-$1,079,765 -$266,849	$1,678,886
8	$3,176,850	-$1,135,765 -$280,198	$1,760,887
9	$3,335,700	-$1,194,539 -$294,209	$1,846,952
10	$3,502,500	-$1,256,255 -$308,921	$1,937,324
11	$3,677,550	-$1,321,024 -$324,360	$2,032,166
12	$3,861,450	-$1,389,067 -$340,580	$2,131,803
13	$4,054,500	-$1,460,495 -$357,607	$2,236,398
14	$4,257,300	-$1,535,531 -$375,494	$2,346,275
15	$4,470,150	-$1,614,286 -$394,267	$2,461,597
16	$4,693,650	-$1,696,981 -$413,980	$2,582,689
17	$4,928,250	-$1,783,783 -$434,672	$2,709,795
18	$5,174,700	-$1,874,969 -$456,409	$2,843,322
19	$5,433,450	-$1,970,707 -$479,230	$2,983,513
20	$5,705,100	-$2,071,217 -$503,190	$3,130,693
21	$5,990,400	-$2,176,778 -$528,353	$3,285,269
22	$6,289,950	-$2,287,612 -$554,774	$3,447,564
23	$6,604,350	-$2,403,940 -$582,504	$3,617,906
24	$6,934,650	-$2,526,151 -$611,636	$3,796,863
25	$7,281,300	-$2,654,411 -$642,211	$3,984,678
26	$7,645,500	-$2,789,165 -$674,333	$4,182,002
27	$8,027,700	-$2,930,579 -$708,043	$4,389,078
28	$8,429,100	-$3,079,097 -$743,447	$4,606,556
29	$8,850,600	-$3,235,052 -$780,623	$4,834,925
30	$9,293,100	-$3,398,777 -$819,651	$5,074,672