Jackpot Analysis New York Mega Millions

Jackpot Analysis for New York Mega Millions
The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Tue Apr 1, 2025
Draw DateTue Apr 1, 2025
Projected Jackpot$29,000,000
Cash Value$13,300,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$13,300,000
Federal Tax(24%)$3,192,000
Additional Federal Tax$1,689,330
State Tax(8.82%)$1,173,060
Net Lumpsum Payment$7,245,610
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $436,479 $121,828
$38,497
$276,154
2 $458,316 $129,907
$40,423
$287,986
3 $481,226 $138,384
$42,444
$300,398
4 $505,296 $147,290
$44,567
$313,439
5 $530,555 $156,636
$46,795
$327,124
6 $557,090 $166,454
$49,135
$341,501
7 $584,930 $176,754
$51,591
$356,585
8 $614,191 $187,581
$54,172
$372,438
9 $644,902 $198,944
$56,880
$389,078
10 $677,150 $210,876
$59,725
$406,549
11 $710,993 $223,398
$62,710
$424,885
12 $746,547 $236,553
$65,845
$444,149
13 $783,870 $250,362
$69,137
$464,371
14 $823,078 $264,869
$72,595
$485,614
15 $864,229 $280,095
$76,225
$507,909
16 $907,439 $296,083
$80,036
$531,320
17 $952,795 $312,865
$84,037
$555,893
18 $1,000,442 $330,494
$88,239
$581,709
19 $1,050,467 $349,003
$92,651
$608,813
20 $1,102,986 $368,435
$97,283
$637,268
21 $1,158,144 $388,844
$102,148
$667,152
22 $1,216,057 $410,271
$107,256
$698,530
23 $1,276,841 $432,762
$112,617
$731,462
24 $1,340,699 $456,389
$118,250
$766,060
25 $1,407,718 $481,186
$124,161
$802,371
26 $1,478,130 $507,238
$130,371
$840,521
27 $1,552,022 $534,579
$136,888
$880,555
28 $1,629,626 $563,292
$143,733
$922,601
29 $1,711,116 $593,443
$150,920
$966,753
30 $1,796,666 $625,097
$158,466
$1,013,103