The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New York residents, the state will deduct 8.82% from your lottery earnings.
| New York MEGA Millions Jackpot/Cash Option for Fri Jan 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(8.82%) | $6,350,400 | | Net Lumpsum Payment | $39,049,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$208,417 |
$1,319,947 |
| 2 |
$2,481,228 |
$878,385
$218,844 |
$1,383,999 |
| 3 |
$2,605,258 |
$924,276
$229,784 |
$1,451,198 |
| 4 |
$2,735,568 |
$972,491
$241,277 |
$1,521,800 |
| 5 |
$2,872,315 |
$1,023,087
$253,338 |
$1,595,890 |
| 6 |
$3,015,970 |
$1,076,239
$266,009 |
$1,673,722 |
| 7 |
$3,166,690 |
$1,132,006
$279,302 |
$1,755,382 |
| 8 |
$3,325,103 |
$1,190,618
$293,274 |
$1,841,211 |
| 9 |
$3,491,366 |
$1,252,136
$307,938 |
$1,931,292 |
| 10 |
$3,665,950 |
$1,316,732
$323,337 |
$2,025,881 |
| 11 |
$3,849,169 |
$1,384,523
$339,497 |
$2,125,149 |
| 12 |
$4,041,651 |
$1,455,741
$356,474 |
$2,229,436 |
| 13 |
$4,243,710 |
$1,530,503
$374,295 |
$2,338,912 |
| 14 |
$4,455,974 |
$1,609,041
$393,017 |
$2,453,916 |
| 15 |
$4,678,757 |
$1,691,470
$412,666 |
$2,574,621 |
| 16 |
$4,912,687 |
$1,778,025
$433,299 |
$2,701,363 |
| 17 |
$5,158,235 |
$1,868,877
$454,956 |
$2,834,402 |
| 18 |
$5,416,186 |
$1,964,319
$477,708 |
$2,974,159 |
| 19 |
$5,687,011 |
$2,064,524
$501,594 |
$3,120,893 |
| 20 |
$5,971,338 |
$2,169,725
$526,672 |
$3,274,941 |
| 21 |
$6,269,952 |
$2,280,213
$553,010 |
$3,436,729 |
| 22 |
$6,583,481 |
$2,396,218
$580,663 |
$3,606,600 |
| 23 |
$6,912,553 |
$2,517,975
$609,687 |
$3,784,891 |
| 24 |
$7,258,267 |
$2,645,889
$640,179 |
$3,972,199 |
| 25 |
$7,621,094 |
$2,780,135
$672,180 |
$4,168,779 |
| 26 |
$8,002,290 |
$2,921,178
$705,802 |
$4,375,310 |
| 27 |
$8,402,326 |
$3,069,191
$741,085 |
$4,592,050 |
| 28 |
$8,822,458 |
$3,224,640
$778,141 |
$4,819,677 |
| 29 |
$9,263,628 |
$3,387,873
$817,052 |
$5,058,703 |
| 30 |
$9,726,778 |
$3,559,238
$857,902 |
$5,309,638 |
|
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