The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 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 Jun 27, 2025 |
|---|
| Draw Date | Fri Jun 27, 2025 | | Projected Jackpot | $348,000,000 | | Cash Value | $155,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $155,500,000 | | Federal Tax(24%) | $37,320,000 | | Additional Federal Tax | $20,175,330 | | State Tax(8.82%) | $13,715,100 | | Net Lumpsum Payment | $84,289,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$461,969 |
$2,877,482 |
| 2 |
$5,499,792 |
$1,995,253
$485,082 |
$3,019,457 |
| 3 |
$5,774,712 |
$2,096,974
$509,330 |
$3,168,408 |
| 4 |
$6,063,552 |
$2,203,845
$534,805 |
$3,324,902 |
| 5 |
$6,366,660 |
$2,315,995
$561,539 |
$3,489,126 |
| 6 |
$6,685,080 |
$2,433,810
$589,624 |
$3,661,646 |
| 7 |
$7,019,160 |
$2,557,420
$619,090 |
$3,842,650 |
| 8 |
$7,370,292 |
$2,687,338
$650,060 |
$4,032,894 |
| 9 |
$7,738,824 |
$2,823,695
$682,564 |
$4,232,565 |
| 10 |
$8,125,800 |
$2,966,876
$716,696 |
$4,442,228 |
| 11 |
$8,531,916 |
$3,117,139
$752,515 |
$4,662,262 |
| 12 |
$8,958,564 |
$3,274,999
$790,145 |
$4,893,420 |
| 13 |
$9,406,440 |
$3,440,713
$829,648 |
$5,136,079 |
| 14 |
$9,876,936 |
$3,614,797
$871,146 |
$5,390,993 |
| 15 |
$10,370,748 |
$3,797,507
$914,700 |
$5,658,541 |
| 16 |
$10,889,268 |
$3,989,360
$960,433 |
$5,939,475 |
| 17 |
$11,433,540 |
$4,190,740
$1,008,438 |
$6,234,362 |
| 18 |
$12,005,304 |
$4,402,293
$1,058,868 |
$6,544,143 |
| 19 |
$12,605,604 |
$4,624,404
$1,111,814 |
$6,869,386 |
| 20 |
$13,235,832 |
$4,857,588
$1,167,400 |
$7,210,844 |
| 21 |
$13,897,728 |
$5,102,490
$1,225,780 |
$7,569,458 |
| 22 |
$14,592,684 |
$5,359,623
$1,287,075 |
$7,945,986 |
| 23 |
$15,322,092 |
$5,629,504
$1,351,409 |
$8,341,179 |
| 24 |
$16,088,388 |
$5,913,034
$1,418,996 |
$8,756,358 |
| 25 |
$16,892,616 |
$6,210,598
$1,489,929 |
$9,192,089 |
| 26 |
$17,737,560 |
$6,523,228
$1,564,453 |
$9,649,879 |
| 27 |
$18,624,264 |
$6,851,308
$1,642,660 |
$10,130,296 |
| 28 |
$19,555,512 |
$7,195,870
$1,724,796 |
$10,634,846 |
| 29 |
$20,533,392 |
$7,557,685
$1,811,045 |
$11,164,662 |
| 30 |
$21,559,992 |
$7,937,527
$1,901,591 |
$11,720,874 |
|
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