Jackpot Analysis New York Mega Millions

Jackpot Analysis for New York Mega Millions
The jackpot for the MEGA Millions draw on Tue Jul 22, 2025, is projected to be $110 Million, with an option for a cash payout of $48.4 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 Jul 22, 2025
Draw DateTue Jul 22, 2025
Projected Jackpot$110,000,000
Cash Value$48,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$48,400,000
Federal Tax(24%)$11,616,000
Additional Federal Tax$6,252,330
State Tax(8.82%)$4,268,880
Net Lumpsum Payment$26,262,790
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,655,610 $572,906
$146,025
$936,679
2 $1,738,440 $603,553
$153,330
$981,557
3 $1,825,340 $635,706
$160,995
$1,028,639
4 $1,916,640 $669,487
$169,048
$1,078,105
5 $2,012,450 $704,937
$177,498
$1,130,015
6 $2,113,100 $742,177
$186,375
$1,184,548
7 $2,218,700 $781,249
$195,689
$1,241,762
8 $2,329,690 $822,316
$205,479
$1,301,895
9 $2,446,180 $865,417
$215,753
$1,365,010
10 $2,568,500 $910,675
$226,542
$1,431,283
11 $2,696,870 $958,172
$237,864
$1,500,834
12 $2,831,730 $1,008,070
$249,759
$1,573,901
13 $2,973,300 $1,060,451
$262,245
$1,650,604
14 $3,122,020 $1,115,478
$275,362
$1,731,180
15 $3,278,110 $1,173,231
$289,129
$1,815,750
16 $3,442,010 $1,233,874
$303,585
$1,904,551
17 $3,614,050 $1,297,529
$318,759
$1,997,762
18 $3,794,780 $1,364,399
$334,700
$2,095,681
19 $3,984,530 $1,434,606
$351,436
$2,198,488
20 $4,183,740 $1,508,314
$369,006
$2,306,420
21 $4,392,960 $1,585,726
$387,459
$2,419,775
22 $4,612,630 $1,667,003
$406,834
$2,538,793
23 $4,843,190 $1,752,311
$427,169
$2,663,710
24 $5,085,410 $1,841,932
$448,533
$2,794,945
25 $5,339,620 $1,935,990
$470,954
$2,932,676
26 $5,606,700 $2,034,809
$494,511
$3,077,380
27 $5,886,980 $2,138,513
$519,232
$3,229,235
28 $6,181,340 $2,247,426
$545,194
$3,388,720
29 $6,490,440 $2,361,793
$572,457
$3,556,190
30 $6,814,940 $2,481,858
$601,078
$3,732,004