New York Lottery

NYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(8.82%)	$5,988,780
Net Lumpsum Payment	$36,827,890

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$199,125	$1,262,864
2	$2,370,600	-$837,452 -$209,087	$1,324,061
3	$2,489,100	-$881,297 -$219,539	$1,388,264
4	$2,613,600	-$927,362 -$230,520	$1,455,718
5	$2,744,250	-$975,703 -$242,043	$1,526,504
6	$2,881,500	-$1,026,485 -$254,148	$1,600,867
7	$3,025,500	-$1,079,765 -$266,849	$1,678,886
8	$3,176,850	-$1,135,765 -$280,198	$1,760,887
9	$3,335,700	-$1,194,539 -$294,209	$1,846,952
10	$3,502,500	-$1,256,255 -$308,921	$1,937,324
11	$3,677,550	-$1,321,024 -$324,360	$2,032,166
12	$3,861,450	-$1,389,067 -$340,580	$2,131,803
13	$4,054,500	-$1,460,495 -$357,607	$2,236,398
14	$4,257,300	-$1,535,531 -$375,494	$2,346,275
15	$4,470,150	-$1,614,286 -$394,267	$2,461,597
16	$4,693,650	-$1,696,981 -$413,980	$2,582,689
17	$4,928,250	-$1,783,783 -$434,672	$2,709,795
18	$5,174,700	-$1,874,969 -$456,409	$2,843,322
19	$5,433,450	-$1,970,707 -$479,230	$2,983,513
20	$5,705,100	-$2,071,217 -$503,190	$3,130,693
21	$5,990,400	-$2,176,778 -$528,353	$3,285,269
22	$6,289,950	-$2,287,612 -$554,774	$3,447,564
23	$6,604,350	-$2,403,940 -$582,504	$3,617,906
24	$6,934,650	-$2,526,151 -$611,636	$3,796,863
25	$7,281,300	-$2,654,411 -$642,211	$3,984,678
26	$7,645,500	-$2,789,165 -$674,333	$4,182,002
27	$8,027,700	-$2,930,579 -$708,043	$4,389,078
28	$8,429,100	-$3,079,097 -$743,447	$4,606,556
29	$8,850,600	-$3,235,052 -$780,623	$4,834,925
30	$9,293,100	-$3,398,777 -$819,651	$5,074,672