The jackpot for the MEGA Millions draw on Fri May 8, 2026, is projected to be $215 Million, with an option for a cash payout of $95.2 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 May 8, 2026 |
|---|
| Draw Date | Fri May 8, 2026 | | Projected Jackpot | $215,000,000 | | Cash Value | $95,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $95,200,000 | | Federal Tax(24%) | $22,848,000 | | Additional Federal Tax | $12,336,330 | | State Tax(8.82%) | $8,396,640 | | Net Lumpsum Payment | $51,619,030 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,235,965 |
$1,157,637
$285,412 |
$1,792,916 |
| 2 |
$3,397,860 |
$1,217,539
$299,691 |
$1,880,630 |
| 3 |
$3,567,710 |
$1,280,383
$314,672 |
$1,972,655 |
| 4 |
$3,746,160 |
$1,346,410
$330,411 |
$2,069,339 |
| 5 |
$3,933,425 |
$1,415,698
$346,928 |
$2,170,799 |
| 6 |
$4,130,150 |
$1,488,486
$364,279 |
$2,277,385 |
| 7 |
$4,336,550 |
$1,564,854
$382,484 |
$2,389,212 |
| 8 |
$4,553,485 |
$1,645,120
$401,617 |
$2,506,748 |
| 9 |
$4,781,170 |
$1,729,363
$421,699 |
$2,630,108 |
| 10 |
$5,020,250 |
$1,817,823
$442,786 |
$2,759,641 |
| 11 |
$5,271,155 |
$1,910,658
$464,916 |
$2,895,581 |
| 12 |
$5,534,745 |
$2,008,186
$488,165 |
$3,038,394 |
| 13 |
$5,811,450 |
$2,110,567
$512,570 |
$3,188,313 |
| 14 |
$6,102,130 |
$2,218,118
$538,208 |
$3,345,804 |
| 15 |
$6,407,215 |
$2,331,000
$565,116 |
$3,511,099 |
| 16 |
$6,727,565 |
$2,449,529
$593,371 |
$3,684,665 |
| 17 |
$7,063,825 |
$2,573,946
$623,029 |
$3,866,850 |
| 18 |
$7,417,070 |
$2,704,646
$654,186 |
$4,058,238 |
| 19 |
$7,787,945 |
$2,841,870
$686,897 |
$4,259,178 |
| 20 |
$8,177,310 |
$2,985,935
$721,239 |
$4,470,136 |
| 21 |
$8,586,240 |
$3,137,239
$757,306 |
$4,691,695 |
| 22 |
$9,015,595 |
$3,296,101
$795,175 |
$4,924,319 |
| 23 |
$9,466,235 |
$3,462,837
$834,922 |
$5,168,476 |
| 24 |
$9,939,665 |
$3,638,006
$876,678 |
$5,424,981 |
| 25 |
$10,436,530 |
$3,821,846
$920,502 |
$5,694,182 |
| 26 |
$10,958,550 |
$4,014,994
$966,544 |
$5,977,012 |
| 27 |
$11,506,370 |
$4,217,687
$1,014,862 |
$6,273,821 |
| 28 |
$12,081,710 |
$4,430,563
$1,065,607 |
$6,585,540 |
| 29 |
$12,685,860 |
$4,654,099
$1,118,893 |
$6,912,868 |
| 30 |
$13,320,110 |
$4,888,771
$1,174,834 |
$7,256,505 |
|
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