New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(8.82%)	$2,804,760
Net Lumpsum Payment	$17,268,910

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$92,925	$610,494
2	$1,106,280	-$369,654 -$97,574	$639,052
3	$1,161,580	-$390,115 -$102,451	$669,014
4	$1,219,680	-$411,612 -$107,576	$700,492
5	$1,280,650	-$434,171 -$112,953	$733,526
6	$1,344,700	-$457,869 -$118,603	$768,228
7	$1,411,900	-$482,733 -$124,530	$804,637
8	$1,482,530	-$508,866 -$130,759	$842,905
9	$1,556,660	-$536,295 -$137,297	$883,068
10	$1,634,500	-$565,095 -$144,163	$925,242
11	$1,716,190	-$595,321 -$151,368	$969,501
12	$1,802,010	-$627,074 -$158,937	$1,015,999
13	$1,892,100	-$660,407 -$166,883	$1,064,810
14	$1,986,740	-$695,424 -$175,230	$1,116,086
15	$2,086,070	-$732,176 -$183,991	$1,169,903
16	$2,190,370	-$770,767 -$193,191	$1,226,412
17	$2,299,850	-$811,275 -$202,847	$1,285,728
18	$2,414,860	-$853,829 -$212,991	$1,348,040
19	$2,535,610	-$898,506 -$223,641	$1,413,463
20	$2,662,380	-$945,411 -$234,822	$1,482,147
21	$2,795,520	-$994,673 -$246,565	$1,554,282
22	$2,935,310	-$1,046,395 -$258,894	$1,630,021
23	$3,082,030	-$1,100,681 -$271,835	$1,709,514
24	$3,236,170	-$1,157,713 -$285,430	$1,793,027
25	$3,397,940	-$1,217,568 -$299,698	$1,880,674
26	$3,567,900	-$1,280,453 -$314,689	$1,972,758
27	$3,746,260	-$1,346,447 -$330,420	$2,069,393
28	$3,933,580	-$1,415,755 -$346,942	$2,170,883
29	$4,130,280	-$1,488,534 -$364,291	$2,277,455
30	$4,336,780	-$1,564,939 -$382,504	$2,389,337