New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(8.82%)	$9,155,160
Net Lumpsum Payment	$56,278,510

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$307,980	$1,931,544
2	$3,666,528	-$1,316,946 -$323,388	$2,026,194
3	$3,849,808	-$1,384,759 -$339,553	$2,125,496
4	$4,042,368	-$1,456,007 -$356,537	$2,229,824
5	$4,244,440	-$1,530,773 -$374,360	$2,339,307
6	$4,456,720	-$1,609,317 -$393,083	$2,454,320
7	$4,679,440	-$1,691,723 -$412,727	$2,574,990
8	$4,913,528	-$1,778,336 -$433,373	$2,701,819
9	$5,159,216	-$1,869,240 -$455,043	$2,834,933
10	$5,417,200	-$1,964,694 -$477,797	$2,974,709
11	$5,687,944	-$2,064,870 -$501,677	$3,121,397
12	$5,972,376	-$2,170,110 -$526,764	$3,275,502
13	$6,270,960	-$2,280,586 -$553,099	$3,437,275
14	$6,584,624	-$2,396,641 -$580,764	$3,607,219
15	$6,913,832	-$2,518,448 -$609,800	$3,785,584
16	$7,259,512	-$2,646,350 -$640,289	$3,972,873
17	$7,622,360	-$2,780,604 -$672,292	$4,169,464
18	$8,003,536	-$2,921,639 -$705,912	$4,375,985
19	$8,403,736	-$3,069,713 -$741,210	$4,592,813
20	$8,823,888	-$3,225,169 -$778,267	$4,820,452
21	$9,265,152	-$3,388,437 -$817,186	$5,059,529
22	$9,728,456	-$3,559,859 -$858,050	$5,310,547
23	$10,214,728	-$3,739,780 -$900,939	$5,574,009
24	$10,725,592	-$3,928,799 -$945,997	$5,850,796
25	$11,261,744	-$4,127,176 -$993,286	$6,141,282
26	$11,825,040	-$4,335,595 -$1,042,969	$6,446,476
27	$12,416,176	-$4,554,316 -$1,095,107	$6,766,753
28	$13,037,008	-$4,784,023 -$1,149,864	$7,103,121
29	$13,688,928	-$5,025,234 -$1,207,363	$7,456,331
30	$14,373,328	-$5,278,462 -$1,267,728	$7,827,138