The jackpot for the MEGA Millions draw on Fri Oct 24, 2025, is projected to be $680 Million, with an option for a cash payout of $318.2 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York MEGA Millions Jackpot/Cash Option for Fri Oct 24, 2025 |
|---|
| Draw Date | Fri Oct 24, 2025 | | Projected Jackpot | $680,000,000 | | Cash Value | $318,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $318,200,000 | | Federal Tax(24%) | $76,368,000 | | Additional Federal Tax | $41,326,330 | | State Tax(8.82%) | $28,065,240 | | Net Lumpsum Payment | $172,440,430 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,234,680 |
$3,747,162
$902,699 |
$5,584,819 |
| 2 |
$10,746,720 |
$3,936,617
$947,861 |
$5,862,242 |
| 3 |
$11,283,920 |
$4,135,381
$995,242 |
$6,153,297 |
| 4 |
$11,848,320 |
$4,344,209
$1,045,022 |
$6,459,089 |
| 5 |
$12,440,600 |
$4,563,352
$1,097,261 |
$6,779,987 |
| 6 |
$13,062,800 |
$4,793,566
$1,152,139 |
$7,117,095 |
| 7 |
$13,715,600 |
$5,035,102
$1,209,716 |
$7,470,782 |
| 8 |
$14,401,720 |
$5,288,967
$1,270,232 |
$7,842,521 |
| 9 |
$15,121,840 |
$5,555,411
$1,333,746 |
$8,232,683 |
| 10 |
$15,878,000 |
$5,835,190
$1,400,440 |
$8,642,370 |
| 11 |
$16,671,560 |
$6,128,808
$1,470,432 |
$9,072,320 |
| 12 |
$17,505,240 |
$6,437,269
$1,543,962 |
$9,524,009 |
| 13 |
$18,380,400 |
$6,761,078
$1,621,151 |
$9,998,171 |
| 14 |
$19,299,760 |
$7,101,242
$1,702,239 |
$10,496,279 |
| 15 |
$20,264,680 |
$7,458,262
$1,787,345 |
$11,019,073 |
| 16 |
$21,277,880 |
$7,833,146
$1,876,709 |
$11,568,025 |
| 17 |
$22,341,400 |
$8,226,648
$1,970,511 |
$12,144,241 |
| 18 |
$23,458,640 |
$8,640,027
$2,069,052 |
$12,749,561 |
| 19 |
$24,631,640 |
$9,074,037
$2,172,511 |
$13,385,092 |
| 20 |
$25,863,120 |
$9,529,685
$2,281,127 |
$14,052,308 |
| 21 |
$27,156,480 |
$10,008,228
$2,395,202 |
$14,753,050 |
| 22 |
$28,514,440 |
$10,510,673
$2,514,974 |
$15,488,793 |
| 23 |
$29,939,720 |
$11,038,027
$2,640,683 |
$16,261,010 |
| 24 |
$31,437,080 |
$11,592,050
$2,772,750 |
$17,072,280 |
| 25 |
$33,008,560 |
$12,173,498
$2,911,355 |
$17,923,707 |
| 26 |
$34,659,600 |
$12,784,382
$3,056,977 |
$18,818,241 |
| 27 |
$36,392,240 |
$13,425,459
$3,209,796 |
$19,756,985 |
| 28 |
$38,211,920 |
$14,098,741
$3,370,291 |
$20,742,888 |
| 29 |
$40,122,720 |
$14,805,737
$3,538,824 |
$21,778,159 |
| 30 |
$42,128,720 |
$15,547,957
$3,715,753 |
$22,865,010 |
|
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