The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 Tue Oct 21, 2025 |
|---|
| Draw Date | Tue Oct 21, 2025 | | Projected Jackpot | $650,000,000 | | Cash Value | $304,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $304,100,000 | | Federal Tax(24%) | $72,984,000 | | Additional Federal Tax | $39,493,330 | | State Tax(8.82%) | $26,821,620 | | Net Lumpsum Payment | $164,801,050 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,783,150 |
$3,580,096
$862,874 |
$5,340,180 |
| 2 |
$10,272,600 |
$3,761,192
$906,043 |
$5,605,365 |
| 3 |
$10,786,100 |
$3,951,187
$951,334 |
$5,883,579 |
| 4 |
$11,325,600 |
$4,150,802
$998,918 |
$6,175,880 |
| 5 |
$11,891,750 |
$4,360,278
$1,048,852 |
$6,482,620 |
| 6 |
$12,486,500 |
$4,580,335
$1,101,309 |
$6,804,856 |
| 7 |
$13,110,500 |
$4,811,215
$1,156,346 |
$7,142,939 |
| 8 |
$13,766,350 |
$5,053,880
$1,214,192 |
$7,498,278 |
| 9 |
$14,454,700 |
$5,308,569
$1,274,905 |
$7,871,226 |
| 10 |
$15,177,500 |
$5,576,005
$1,338,656 |
$8,262,839 |
| 11 |
$15,936,050 |
$5,856,669
$1,405,560 |
$8,673,821 |
| 12 |
$16,732,950 |
$6,151,522
$1,475,846 |
$9,105,582 |
| 13 |
$17,569,500 |
$6,461,045
$1,549,630 |
$9,558,825 |
| 14 |
$18,448,300 |
$6,786,201
$1,627,140 |
$10,034,959 |
| 15 |
$19,370,650 |
$7,127,471
$1,708,491 |
$10,534,688 |
| 16 |
$20,339,150 |
$7,485,816
$1,793,913 |
$11,059,421 |
| 17 |
$21,355,750 |
$7,861,958
$1,883,577 |
$11,610,215 |
| 18 |
$22,423,700 |
$8,257,099
$1,977,770 |
$12,188,831 |
| 19 |
$23,544,950 |
$8,671,962
$2,076,665 |
$12,796,323 |
| 20 |
$24,722,100 |
$9,107,507
$2,180,489 |
$13,434,104 |
| 21 |
$25,958,400 |
$9,564,938
$2,289,531 |
$14,103,931 |
| 22 |
$27,256,450 |
$10,045,217
$2,404,019 |
$14,807,214 |
| 23 |
$28,618,850 |
$10,549,305
$2,524,183 |
$15,545,362 |
| 24 |
$30,050,150 |
$11,078,886
$2,650,423 |
$16,320,841 |
| 25 |
$31,552,300 |
$11,634,681
$2,782,913 |
$17,134,706 |
| 26 |
$33,130,500 |
$12,218,615
$2,922,110 |
$17,989,775 |
| 27 |
$34,786,700 |
$12,831,409
$3,068,187 |
$18,887,104 |
| 28 |
$36,526,100 |
$13,474,987
$3,221,602 |
$19,829,511 |
| 29 |
$38,352,600 |
$14,150,792
$3,382,699 |
$20,819,109 |
| 30 |
$40,270,100 |
$14,860,267
$3,551,823 |
$21,858,010 |
|
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