The jackpot for the MEGA Millions draw on Fri Apr 25, 2025, is projected to be $60 Million, with an option for a cash payout of $26.9 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 Apr 25, 2025 |
|---|
| Draw Date | Fri Apr 25, 2025 | | Projected Jackpot | $60,000,000 | | Cash Value | $26,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,900,000 | | Federal Tax(24%) | $6,456,000 | | Additional Federal Tax | $3,457,330 | | State Tax(8.82%) | $2,372,580 | | Net Lumpsum Payment | $14,614,090 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$903,060 |
$294,463
$79,650 |
$528,947 |
| 2 |
$948,240 |
$311,179
$83,635 |
$553,426 |
| 3 |
$995,640 |
$328,717
$87,815 |
$579,108 |
| 4 |
$1,045,440 |
$347,143
$92,208 |
$606,089 |
| 5 |
$1,097,700 |
$366,479
$96,817 |
$634,404 |
| 6 |
$1,152,600 |
$386,792
$101,659 |
$664,149 |
| 7 |
$1,210,200 |
$408,104
$106,740 |
$695,356 |
| 8 |
$1,270,740 |
$430,504
$112,079 |
$728,157 |
| 9 |
$1,334,280 |
$454,014
$117,683 |
$762,583 |
| 10 |
$1,401,000 |
$478,700
$123,568 |
$798,732 |
| 11 |
$1,471,020 |
$504,608
$129,744 |
$836,668 |
| 12 |
$1,544,580 |
$531,825
$136,232 |
$876,523 |
| 13 |
$1,621,800 |
$560,396
$143,043 |
$918,361 |
| 14 |
$1,702,920 |
$590,411
$150,198 |
$962,311 |
| 15 |
$1,788,060 |
$621,913
$157,707 |
$1,008,440 |
| 16 |
$1,877,460 |
$654,991
$165,592 |
$1,056,877 |
| 17 |
$1,971,300 |
$689,711
$173,869 |
$1,107,720 |
| 18 |
$2,069,880 |
$726,186
$182,563 |
$1,161,131 |
| 19 |
$2,173,380 |
$764,481
$191,692 |
$1,217,207 |
| 20 |
$2,282,040 |
$804,685
$201,276 |
$1,276,079 |
| 21 |
$2,396,160 |
$846,910
$211,341 |
$1,337,909 |
| 22 |
$2,515,980 |
$891,243
$221,909 |
$1,402,828 |
| 23 |
$2,641,740 |
$937,774
$233,001 |
$1,470,965 |
| 24 |
$2,773,860 |
$986,659
$244,654 |
$1,542,547 |
| 25 |
$2,912,520 |
$1,037,963
$256,884 |
$1,617,673 |
| 26 |
$3,058,200 |
$1,091,864
$269,733 |
$1,696,603 |
| 27 |
$3,211,080 |
$1,148,430
$283,217 |
$1,779,433 |
| 28 |
$3,371,640 |
$1,207,837
$297,379 |
$1,866,424 |
| 29 |
$3,540,240 |
$1,270,219
$312,249 |
$1,957,772 |
| 30 |
$3,717,240 |
$1,335,709
$327,861 |
$2,053,670 |
|
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