New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 5, 2026 is estimated to be $195 Million, with a cash option of 86.3 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 May 5, 2026

Draw Date	Jackpot	Cash Option
Tue May 5, 2026	$195,000,000	$86,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$86,300,000
Federal Tax(24%)	$20,712,000
Additional Federal Tax	$11,179,330
State Tax(8.82%)	$7,611,660
Net Lumpsum Payment	$46,797,010

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$258,862	$1,629,823
2	$3,081,780	-$1,100,589 -$271,813	$1,709,378
3	$3,235,830	-$1,157,587 -$285,400	$1,792,843
4	$3,397,680	-$1,217,472 -$299,675	$1,880,533
5	$3,567,525	-$1,280,315 -$314,656	$1,972,554
6	$3,745,950	-$1,346,332 -$330,393	$2,069,225
7	$3,933,150	-$1,415,596 -$346,904	$2,170,650
8	$4,129,905	-$1,488,395 -$364,258	$2,277,252
9	$4,336,410	-$1,564,802 -$382,471	$2,389,137
10	$4,553,250	-$1,645,033 -$401,597	$2,506,620
11	$4,780,815	-$1,729,232 -$421,668	$2,629,915
12	$5,019,885	-$1,817,688 -$442,754	$2,759,443
13	$5,270,850	-$1,910,545 -$464,889	$2,895,416
14	$5,534,490	-$2,008,092 -$488,142	$3,038,256
15	$5,811,195	-$2,110,473 -$512,547	$3,188,175
16	$6,101,745	-$2,217,976 -$538,174	$3,345,595
17	$6,406,725	-$2,330,819 -$565,073	$3,510,833
18	$6,727,110	-$2,449,361 -$593,331	$3,684,418
19	$7,063,485	-$2,573,820 -$622,999	$3,866,666
20	$7,416,630	-$2,704,483 -$654,147	$4,058,000
21	$7,787,520	-$2,841,713 -$686,859	$4,258,948
22	$8,176,935	-$2,985,796 -$721,206	$4,469,933
23	$8,585,655	-$3,137,023 -$757,255	$4,691,377
24	$9,015,045	-$3,295,897 -$795,127	$4,924,021
25	$9,465,690	-$3,462,636 -$834,874	$5,168,180
26	$9,939,150	-$3,637,816 -$876,633	$5,424,701
27	$10,436,010	-$3,821,654 -$920,456	$5,693,900
28	$10,957,830	-$4,014,727 -$966,481	$5,976,622
29	$11,505,780	-$4,217,469 -$1,014,810	$6,273,501
30	$12,081,030	-$4,430,311 -$1,065,547	$6,585,172