The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(8.82%) | $14,297,220 | | Net Lumpsum Payment | $87,865,450 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$534,982 |
$3,325,986 |
| 2 |
$6,369,012 |
$2,316,865
$561,747 |
$3,490,400 |
| 3 |
$6,687,382 |
$2,434,662
$589,827 |
$3,662,893 |
| 4 |
$7,021,872 |
$2,558,423
$619,329 |
$3,844,120 |
| 5 |
$7,372,885 |
$2,688,298
$650,288 |
$4,034,299 |
| 6 |
$7,741,630 |
$2,824,733
$682,812 |
$4,234,085 |
| 7 |
$8,128,510 |
$2,967,879
$716,935 |
$4,443,696 |
| 8 |
$8,535,137 |
$3,118,331
$752,799 |
$4,664,007 |
| 9 |
$8,961,914 |
$3,276,239
$790,441 |
$4,895,234 |
| 10 |
$9,410,050 |
$3,442,049
$829,966 |
$5,138,035 |
| 11 |
$9,880,351 |
$3,616,060
$871,447 |
$5,392,844 |
| 12 |
$10,374,429 |
$3,798,869
$915,025 |
$5,660,535 |
| 13 |
$10,893,090 |
$3,990,774
$960,771 |
$5,941,545 |
| 14 |
$11,437,946 |
$4,192,370
$1,008,827 |
$6,236,749 |
| 15 |
$12,009,803 |
$4,403,957
$1,059,265 |
$6,546,581 |
| 16 |
$12,610,273 |
$4,626,131
$1,112,226 |
$6,871,916 |
| 17 |
$13,240,565 |
$4,859,339
$1,167,818 |
$7,213,408 |
| 18 |
$13,902,694 |
$5,104,327
$1,226,218 |
$7,572,149 |
| 19 |
$14,597,869 |
$5,361,542
$1,287,532 |
$7,948,795 |
| 20 |
$15,327,702 |
$5,631,580
$1,351,903 |
$8,344,219 |
| 21 |
$16,094,208 |
$5,915,187
$1,419,509 |
$8,759,512 |
| 22 |
$16,898,999 |
$6,212,960
$1,490,492 |
$9,195,547 |
| 23 |
$17,743,687 |
$6,525,495
$1,564,993 |
$9,653,199 |
| 24 |
$18,631,093 |
$6,853,835
$1,643,262 |
$10,133,996 |
| 25 |
$19,562,426 |
$7,198,428
$1,725,406 |
$10,638,592 |
| 26 |
$20,540,910 |
$7,560,467
$1,811,708 |
$11,168,735 |
| 27 |
$21,567,754 |
$7,940,399
$1,902,276 |
$11,725,079 |
| 28 |
$22,646,182 |
$8,339,418
$1,997,393 |
$12,309,371 |
| 29 |
$23,778,612 |
$8,758,417
$2,097,274 |
$12,922,921 |
| 30 |
$24,967,462 |
$9,198,291
$2,202,130 |
$13,567,041 |
|
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