New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New York MEGA Millions Jackpot/Cash Option for Tue Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(8.82%)	$2,249,100
Net Lumpsum Payment	$13,855,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$79,650	$528,947
2	$948,240	-$311,179 -$83,635	$553,426
3	$995,640	-$328,717 -$87,815	$579,108
4	$1,045,440	-$347,143 -$92,208	$606,089
5	$1,097,700	-$366,479 -$96,817	$634,404
6	$1,152,600	-$386,792 -$101,659	$664,149
7	$1,210,200	-$408,104 -$106,740	$695,356
8	$1,270,740	-$430,504 -$112,079	$728,157
9	$1,334,280	-$454,014 -$117,683	$762,583
10	$1,401,000	-$478,700 -$123,568	$798,732
11	$1,471,020	-$504,608 -$129,744	$836,668
12	$1,544,580	-$531,825 -$136,232	$876,523
13	$1,621,800	-$560,396 -$143,043	$918,361
14	$1,702,920	-$590,411 -$150,198	$962,311
15	$1,788,060	-$621,913 -$157,707	$1,008,440
16	$1,877,460	-$654,991 -$165,592	$1,056,877
17	$1,971,300	-$689,711 -$173,869	$1,107,720
18	$2,069,880	-$726,186 -$182,563	$1,161,131
19	$2,173,380	-$764,481 -$191,692	$1,217,207
20	$2,282,040	-$804,685 -$201,276	$1,276,079
21	$2,396,160	-$846,910 -$211,341	$1,337,909
22	$2,515,980	-$891,243 -$221,909	$1,402,828
23	$2,641,740	-$937,774 -$233,001	$1,470,965
24	$2,773,860	-$986,659 -$244,654	$1,542,547
25	$2,912,520	-$1,037,963 -$256,884	$1,617,673
26	$3,058,200	-$1,091,864 -$269,733	$1,696,603
27	$3,211,080	-$1,148,430 -$283,217	$1,779,433
28	$3,371,640	-$1,207,837 -$297,379	$1,866,424
29	$3,540,240	-$1,270,219 -$312,249	$1,957,772
30	$3,717,240	-$1,335,709 -$327,861	$2,053,670