The jackpot for the MEGA Millions draw on Tue Jun 17, 2025, is projected to be $280 Million, with an option for a cash payout of $126.1 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 Tue Jun 17, 2025 |
|---|
| Draw Date | Tue Jun 17, 2025 | | Projected Jackpot | $280,000,000 | | Cash Value | $126,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,100,000 | | Federal Tax(24%) | $30,264,000 | | Additional Federal Tax | $16,353,330 | | State Tax(8.82%) | $11,122,020 | | Net Lumpsum Payment | $68,360,650 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$371,699 |
$2,322,967 |
| 2 |
$4,425,120 |
$1,597,625
$390,296 |
$2,437,199 |
| 3 |
$4,646,320 |
$1,679,469
$409,805 |
$2,557,046 |
| 4 |
$4,878,720 |
$1,765,457
$430,303 |
$2,682,960 |
| 5 |
$5,122,600 |
$1,855,692
$451,813 |
$2,815,095 |
| 6 |
$5,378,800 |
$1,950,486
$474,410 |
$2,953,904 |
| 7 |
$5,647,600 |
$2,049,942
$498,118 |
$3,099,540 |
| 8 |
$5,930,120 |
$2,154,475
$523,037 |
$3,252,608 |
| 9 |
$6,226,640 |
$2,264,187
$549,190 |
$3,413,263 |
| 10 |
$6,538,000 |
$2,379,390
$576,652 |
$3,581,958 |
| 11 |
$6,864,760 |
$2,500,292
$605,472 |
$3,758,996 |
| 12 |
$7,208,040 |
$2,627,305
$635,749 |
$3,944,986 |
| 13 |
$7,568,400 |
$2,760,638
$667,533 |
$4,140,229 |
| 14 |
$7,946,960 |
$2,900,706
$700,922 |
$4,345,332 |
| 15 |
$8,344,280 |
$3,047,714
$735,965 |
$4,560,601 |
| 16 |
$8,761,480 |
$3,202,078
$772,763 |
$4,786,639 |
| 17 |
$9,199,400 |
$3,364,108
$811,387 |
$5,023,905 |
| 18 |
$9,659,440 |
$3,534,323
$851,963 |
$5,273,154 |
| 19 |
$10,142,440 |
$3,713,033
$894,563 |
$5,534,844 |
| 20 |
$10,649,520 |
$3,900,653
$939,288 |
$5,809,579 |
| 21 |
$11,182,080 |
$4,097,700
$986,259 |
$6,098,121 |
| 22 |
$11,741,240 |
$4,304,589
$1,035,577 |
$6,401,074 |
| 23 |
$12,328,120 |
$4,521,735
$1,087,340 |
$6,719,045 |
| 24 |
$12,944,680 |
$4,749,862
$1,141,721 |
$7,053,097 |
| 25 |
$13,591,760 |
$4,989,282
$1,198,793 |
$7,403,685 |
| 26 |
$14,271,600 |
$5,240,822
$1,258,755 |
$7,772,023 |
| 27 |
$14,985,040 |
$5,504,795
$1,321,681 |
$8,158,564 |
| 28 |
$15,734,320 |
$5,782,029
$1,387,767 |
$8,564,524 |
| 29 |
$16,521,120 |
$6,073,145
$1,457,163 |
$8,990,812 |
| 30 |
$17,347,120 |
$6,378,765
$1,530,016 |
$9,438,339 |
|
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