New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 23, 2026 is estimated to be $266 Million, with a cash option of 120.8 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 Fri Jan 23, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 23, 2026	$266,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(8.82%)	$10,654,560
Net Lumpsum Payment	$65,489,110

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$353,115	$2,208,801
2	$4,203,864	-$1,515,760 -$370,781	$2,317,323
3	$4,414,004	-$1,593,512 -$389,315	$2,431,177
4	$4,634,784	-$1,675,200 -$408,788	$2,550,796
5	$4,866,470	-$1,760,924 -$429,223	$2,676,323
6	$5,109,860	-$1,850,979 -$450,690	$2,808,191
7	$5,365,220	-$1,945,462 -$473,212	$2,946,546
8	$5,633,614	-$2,044,768 -$496,885	$3,091,961
9	$5,915,308	-$2,148,994 -$521,730	$3,244,584
10	$6,211,100	-$2,258,437 -$547,819	$3,404,844
11	$6,521,522	-$2,373,294 -$575,198	$3,573,030
12	$6,847,638	-$2,493,956 -$603,962	$3,749,720
13	$7,189,980	-$2,620,623 -$634,156	$3,935,201
14	$7,549,612	-$2,753,687 -$665,876	$4,130,049
15	$7,927,066	-$2,893,345 -$699,167	$4,334,554
16	$8,323,406	-$3,039,991 -$734,124	$4,549,291
17	$8,739,430	-$3,193,919 -$770,818	$4,774,693
18	$9,176,468	-$3,355,624 -$809,364	$5,011,480
19	$9,635,318	-$3,525,398 -$849,835	$5,260,085
20	$10,117,044	-$3,703,637 -$892,323	$5,521,084
21	$10,622,976	-$3,890,832 -$936,946	$5,795,198
22	$11,154,178	-$4,087,376 -$983,798	$6,083,004
23	$11,711,714	-$4,293,665 -$1,032,973	$6,385,076
24	$12,297,446	-$4,510,385 -$1,084,635	$6,702,426
25	$12,912,172	-$4,737,834 -$1,138,854	$7,035,484
26	$13,558,020	-$4,976,798 -$1,195,817	$7,385,405
27	$14,235,788	-$5,227,572 -$1,255,597	$7,752,619
28	$14,947,604	-$5,490,944 -$1,318,379	$8,138,281
29	$15,695,064	-$5,767,504 -$1,384,305	$8,543,255
30	$16,479,764	-$6,057,843 -$1,453,515	$8,968,406