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 Date | Tue 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 |
|
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