The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 Aug 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(8.82%) | $6,632,640 | | Net Lumpsum Payment | $40,783,030 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$220,365 |
$1,393,338 |
| 2 |
$2,623,464 |
$931,012
$231,390 |
$1,461,062 |
| 3 |
$2,754,604 |
$979,534
$242,956 |
$1,532,114 |
| 4 |
$2,892,384 |
$1,030,512
$255,108 |
$1,606,764 |
| 5 |
$3,036,970 |
$1,084,009
$267,861 |
$1,685,100 |
| 6 |
$3,188,860 |
$1,140,209
$281,257 |
$1,767,394 |
| 7 |
$3,348,220 |
$1,199,172
$295,313 |
$1,853,735 |
| 8 |
$3,515,714 |
$1,261,145
$310,086 |
$1,944,483 |
| 9 |
$3,691,508 |
$1,326,188
$325,591 |
$2,039,729 |
| 10 |
$3,876,100 |
$1,394,487
$341,872 |
$2,139,741 |
| 11 |
$4,069,822 |
$1,466,165
$358,958 |
$2,244,699 |
| 12 |
$4,273,338 |
$1,541,465
$376,908 |
$2,354,965 |
| 13 |
$4,486,980 |
$1,620,513
$395,752 |
$2,470,715 |
| 14 |
$4,711,412 |
$1,703,553
$415,547 |
$2,592,312 |
| 15 |
$4,946,966 |
$1,790,708
$436,322 |
$2,719,936 |
| 16 |
$5,194,306 |
$1,882,224
$458,138 |
$2,853,944 |
| 17 |
$5,453,930 |
$1,978,284
$481,037 |
$2,994,609 |
| 18 |
$5,726,668 |
$2,079,198
$505,092 |
$3,142,378 |
| 19 |
$6,013,018 |
$2,185,147
$530,348 |
$3,297,523 |
| 20 |
$6,313,644 |
$2,296,379
$556,863 |
$3,460,402 |
| 21 |
$6,629,376 |
$2,413,200
$584,711 |
$3,631,465 |
| 22 |
$6,960,878 |
$2,535,855
$613,949 |
$3,811,074 |
| 23 |
$7,308,814 |
$2,664,592
$644,637 |
$3,999,585 |
| 24 |
$7,674,346 |
$2,799,838
$676,877 |
$4,197,631 |
| 25 |
$8,057,972 |
$2,941,780
$710,713 |
$4,405,479 |
| 26 |
$8,461,020 |
$3,090,908
$746,262 |
$4,623,850 |
| 27 |
$8,883,988 |
$3,247,406
$783,568 |
$4,853,014 |
| 28 |
$9,328,204 |
$3,411,766
$822,748 |
$5,093,690 |
| 29 |
$9,794,664 |
$3,584,356
$863,889 |
$5,346,419 |
| 30 |
$10,284,364 |
$3,765,545
$907,081 |
$5,611,738 |
|
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