New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(8.82%)	$4,895,100
Net Lumpsum Payment	$30,109,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$172,575	$1,099,772
2	$2,054,520	-$720,503 -$181,209	$1,152,808
3	$2,157,220	-$758,502 -$190,267	$1,208,451
4	$2,265,120	-$798,425 -$199,784	$1,266,911
5	$2,378,350	-$840,320 -$209,770	$1,328,260
6	$2,497,300	-$884,331 -$220,262	$1,392,707
7	$2,622,100	-$930,507 -$231,269	$1,460,324
8	$2,753,270	-$979,040 -$242,838	$1,531,392
9	$2,890,940	-$1,029,978 -$254,981	$1,605,981
10	$3,035,500	-$1,083,465 -$267,731	$1,684,304
11	$3,187,210	-$1,139,598 -$281,112	$1,766,500
12	$3,346,590	-$1,198,569 -$295,169	$1,852,852
13	$3,513,900	-$1,260,473 -$309,926	$1,943,501
14	$3,689,660	-$1,325,505 -$325,428	$2,038,727
15	$3,874,130	-$1,393,758 -$341,698	$2,138,674
16	$4,067,830	-$1,465,427 -$358,783	$2,243,620
17	$4,271,150	-$1,540,656 -$376,715	$2,353,779
18	$4,484,740	-$1,619,684 -$395,554	$2,469,502
19	$4,708,990	-$1,702,657 -$415,333	$2,591,000
20	$4,944,420	-$1,789,766 -$436,098	$2,718,556
21	$5,191,680	-$1,881,252 -$457,906	$2,852,522
22	$5,451,290	-$1,977,308 -$480,804	$2,993,178
23	$5,723,770	-$2,078,125 -$504,837	$3,140,808
24	$6,010,030	-$2,184,041 -$530,085	$3,295,904
25	$6,310,460	-$2,295,201 -$556,583	$3,458,676
26	$6,626,100	-$2,411,987 -$584,422	$3,629,691
27	$6,957,340	-$2,534,546 -$613,637	$3,809,157
28	$7,305,220	-$2,663,262 -$644,320	$3,997,638
29	$7,670,520	-$2,798,423 -$676,540	$4,195,557
30	$8,054,020	-$2,940,318 -$710,365	$4,403,337