The jackpot for the MEGA Millions draw on Fri Aug 15, 2025, is projected to be $198 Million, with an option for a cash payout of $89.3 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 Aug 15, 2025 |
|---|
| Draw Date | Fri Aug 15, 2025 | | Projected Jackpot | $198,000,000 | | Cash Value | $89,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,300,000 | | Federal Tax(24%) | $21,432,000 | | Additional Federal Tax | $11,569,330 | | State Tax(8.82%) | $7,876,260 | | Net Lumpsum Payment | $48,422,410 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,980,098 |
$1,062,967
$262,845 |
$1,654,286 |
| 2 |
$3,129,192 |
$1,118,131
$275,995 |
$1,735,066 |
| 3 |
$3,285,612 |
$1,176,007
$289,791 |
$1,819,814 |
| 4 |
$3,449,952 |
$1,236,813
$304,286 |
$1,908,853 |
| 5 |
$3,622,410 |
$1,300,622
$319,497 |
$2,002,291 |
| 6 |
$3,803,580 |
$1,367,655
$335,476 |
$2,100,449 |
| 7 |
$3,993,660 |
$1,437,985
$352,241 |
$2,203,434 |
| 8 |
$4,193,442 |
$1,511,904
$369,862 |
$2,311,676 |
| 9 |
$4,403,124 |
$1,589,486
$388,356 |
$2,425,282 |
| 10 |
$4,623,300 |
$1,670,951
$407,775 |
$2,544,574 |
| 11 |
$4,854,366 |
$1,756,446
$428,155 |
$2,669,765 |
| 12 |
$5,097,114 |
$1,846,263
$449,565 |
$2,801,286 |
| 13 |
$5,351,940 |
$1,940,548
$472,041 |
$2,939,351 |
| 14 |
$5,619,636 |
$2,039,596
$495,652 |
$3,084,388 |
| 15 |
$5,900,598 |
$2,143,552
$520,433 |
$3,236,613 |
| 16 |
$6,195,618 |
$2,252,709
$546,454 |
$3,396,455 |
| 17 |
$6,505,290 |
$2,367,288
$573,767 |
$3,564,235 |
| 18 |
$6,830,604 |
$2,487,654
$602,459 |
$3,740,491 |
| 19 |
$7,172,154 |
$2,614,027
$632,584 |
$3,925,543 |
| 20 |
$7,530,732 |
$2,746,701
$664,211 |
$4,119,820 |
| 21 |
$7,907,328 |
$2,886,042
$697,426 |
$4,323,860 |
| 22 |
$8,302,734 |
$3,032,342
$732,301 |
$4,538,091 |
| 23 |
$8,717,742 |
$3,185,895
$768,905 |
$4,762,942 |
| 24 |
$9,153,738 |
$3,347,213
$807,360 |
$4,999,165 |
| 25 |
$9,611,316 |
$3,516,517
$847,718 |
$5,247,081 |
| 26 |
$10,092,060 |
$3,694,393
$890,120 |
$5,507,547 |
| 27 |
$10,596,564 |
$3,881,059
$934,617 |
$5,780,888 |
| 28 |
$11,126,412 |
$4,077,103
$981,350 |
$6,067,959 |
| 29 |
$11,682,792 |
$4,282,963
$1,030,422 |
$6,369,407 |
| 30 |
$12,266,892 |
$4,499,080
$1,081,940 |
$6,685,872 |
|
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