The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(8.82%) | $10,989,720 | | Net Lumpsum Payment | $67,547,950 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$367,717 |
$2,298,503 |
| 2 |
$4,377,708 |
$1,580,082
$386,114 |
$2,411,512 |
| 3 |
$4,596,538 |
$1,661,049
$405,415 |
$2,530,074 |
| 4 |
$4,826,448 |
$1,746,116
$425,693 |
$2,654,639 |
| 5 |
$5,067,715 |
$1,835,385
$446,972 |
$2,785,358 |
| 6 |
$5,321,170 |
$1,929,163
$469,327 |
$2,922,680 |
| 7 |
$5,587,090 |
$2,027,554
$492,781 |
$3,066,755 |
| 8 |
$5,866,583 |
$2,130,966
$517,433 |
$3,218,184 |
| 9 |
$6,159,926 |
$2,239,503
$543,305 |
$3,377,118 |
| 10 |
$6,467,950 |
$2,353,472
$570,473 |
$3,544,005 |
| 11 |
$6,791,209 |
$2,473,078
$598,985 |
$3,719,146 |
| 12 |
$7,130,811 |
$2,598,730
$628,938 |
$3,903,143 |
| 13 |
$7,487,310 |
$2,730,635
$660,381 |
$4,096,294 |
| 14 |
$7,861,814 |
$2,869,202
$693,412 |
$4,299,200 |
| 15 |
$8,254,877 |
$3,014,635
$728,080 |
$4,512,162 |
| 16 |
$8,667,607 |
$3,167,345
$764,483 |
$4,735,779 |
| 17 |
$9,100,835 |
$3,327,639
$802,694 |
$4,970,502 |
| 18 |
$9,555,946 |
$3,496,030
$842,834 |
$5,217,082 |
| 19 |
$10,033,771 |
$3,672,826
$884,979 |
$5,475,966 |
| 20 |
$10,535,418 |
$3,858,435
$929,224 |
$5,747,759 |
| 21 |
$11,062,272 |
$4,053,371
$975,692 |
$6,033,209 |
| 22 |
$11,615,441 |
$4,258,044
$1,024,482 |
$6,332,915 |
| 23 |
$12,196,033 |
$4,472,863
$1,075,690 |
$6,647,480 |
| 24 |
$12,805,987 |
$4,698,546
$1,129,488 |
$6,977,953 |
| 25 |
$13,446,134 |
$4,935,400
$1,185,949 |
$7,324,785 |
| 26 |
$14,118,690 |
$5,184,246
$1,245,268 |
$7,689,176 |
| 27 |
$14,824,486 |
$5,445,390
$1,307,520 |
$8,071,576 |
| 28 |
$15,565,738 |
$5,719,653
$1,372,898 |
$8,473,187 |
| 29 |
$16,344,108 |
$6,007,650
$1,441,550 |
$8,894,908 |
| 30 |
$17,161,258 |
$6,309,996
$1,513,623 |
$9,337,639 |
|
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