The jackpot for the MEGA Millions draw on Fri May 15, 2026, is projected to be $251 Million, with an option for a cash payout of $112.3 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 15, 2026 |
|---|
| Draw Date | Fri May 15, 2026 | | Projected Jackpot | $251,000,000 | | Cash Value | $112,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,300,000 | | Federal Tax(24%) | $26,952,000 | | Additional Federal Tax | $14,559,330 | | State Tax(8.82%) | $9,904,860 | | Net Lumpsum Payment | $60,883,810 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,777,801 |
$1,358,117
$333,202 |
$2,086,482 |
| 2 |
$3,966,804 |
$1,428,048
$349,872 |
$2,188,884 |
| 3 |
$4,165,094 |
$1,501,415
$367,361 |
$2,296,318 |
| 4 |
$4,373,424 |
$1,578,497
$385,736 |
$2,409,191 |
| 5 |
$4,592,045 |
$1,659,387
$405,018 |
$2,527,640 |
| 6 |
$4,821,710 |
$1,744,363
$425,275 |
$2,652,072 |
| 7 |
$5,062,670 |
$1,833,518
$446,527 |
$2,782,625 |
| 8 |
$5,315,929 |
$1,927,224
$468,865 |
$2,919,840 |
| 9 |
$5,581,738 |
$2,025,573
$492,309 |
$3,063,856 |
| 10 |
$5,860,850 |
$2,128,845
$516,927 |
$3,215,078 |
| 11 |
$6,153,767 |
$2,237,224
$542,762 |
$3,373,781 |
| 12 |
$6,461,493 |
$2,351,083
$569,904 |
$3,540,506 |
| 13 |
$6,784,530 |
$2,470,606
$598,396 |
$3,715,528 |
| 14 |
$7,123,882 |
$2,596,167
$628,326 |
$3,899,389 |
| 15 |
$7,480,051 |
$2,727,949
$659,740 |
$4,092,362 |
| 16 |
$7,854,041 |
$2,866,326
$692,726 |
$4,294,989 |
| 17 |
$8,246,605 |
$3,011,574
$727,351 |
$4,507,680 |
| 18 |
$8,658,998 |
$3,164,160
$763,724 |
$4,731,114 |
| 19 |
$9,091,973 |
$3,324,360
$801,912 |
$4,965,701 |
| 20 |
$9,546,534 |
$3,492,548
$842,004 |
$5,211,982 |
| 21 |
$10,023,936 |
$3,669,187
$884,111 |
$5,470,638 |
| 22 |
$10,525,183 |
$3,854,648
$928,321 |
$5,742,214 |
| 23 |
$11,051,279 |
$4,049,304
$974,723 |
$6,027,252 |
| 24 |
$11,603,981 |
$4,253,803
$1,023,471 |
$6,326,707 |
| 25 |
$12,184,042 |
$4,468,426
$1,074,633 |
$6,640,983 |
| 26 |
$12,793,470 |
$4,693,914
$1,128,384 |
$6,971,172 |
| 27 |
$13,433,018 |
$4,930,547
$1,184,792 |
$7,317,679 |
| 28 |
$14,104,694 |
$5,179,067
$1,244,034 |
$7,681,593 |
| 29 |
$14,810,004 |
$5,440,032
$1,306,242 |
$8,063,730 |
| 30 |
$15,550,454 |
$5,713,998
$1,371,550 |
$8,464,906 |
|
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