The jackpot for the MEGA Millions draw on Tue Jun 24, 2025, is projected to be $326 Million, with an option for a cash payout of $145.7 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 Jun 24, 2025 |
|---|
| Draw Date | Tue Jun 24, 2025 | | Projected Jackpot | $326,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(8.82%) | $12,850,740 | | Net Lumpsum Payment | $78,979,930 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$432,764 |
$2,698,080 |
| 2 |
$5,152,104 |
$1,866,609
$454,416 |
$2,831,079 |
| 3 |
$5,409,644 |
$1,961,899
$477,131 |
$2,970,614 |
| 4 |
$5,680,224 |
$2,062,013
$500,996 |
$3,117,215 |
| 5 |
$5,964,170 |
$2,167,073
$526,040 |
$3,271,057 |
| 6 |
$6,262,460 |
$2,277,441
$552,349 |
$3,432,670 |
| 7 |
$6,575,420 |
$2,393,236
$579,952 |
$3,602,232 |
| 8 |
$6,904,354 |
$2,514,941
$608,964 |
$3,780,449 |
| 9 |
$7,249,588 |
$2,642,678
$639,414 |
$3,967,496 |
| 10 |
$7,612,100 |
$2,776,807
$671,387 |
$4,163,906 |
| 11 |
$7,992,542 |
$2,917,571
$704,942 |
$4,370,029 |
| 12 |
$8,392,218 |
$3,065,451
$740,194 |
$4,586,573 |
| 13 |
$8,811,780 |
$3,220,689
$777,199 |
$4,813,892 |
| 14 |
$9,252,532 |
$3,383,767
$816,073 |
$5,052,692 |
| 15 |
$9,715,126 |
$3,554,927
$856,874 |
$5,303,325 |
| 16 |
$10,200,866 |
$3,734,651
$899,716 |
$5,566,499 |
| 17 |
$10,710,730 |
$3,923,300
$944,686 |
$5,842,744 |
| 18 |
$11,246,348 |
$4,121,479
$991,928 |
$6,132,941 |
| 19 |
$11,808,698 |
$4,329,549
$1,041,527 |
$6,437,622 |
| 20 |
$12,399,084 |
$4,547,991
$1,093,599 |
$6,757,494 |
| 21 |
$13,019,136 |
$4,777,411
$1,148,288 |
$7,093,437 |
| 22 |
$13,670,158 |
$5,018,289
$1,205,708 |
$7,446,161 |
| 23 |
$14,353,454 |
$5,271,108
$1,265,975 |
$7,816,371 |
| 24 |
$15,071,306 |
$5,536,714
$1,329,289 |
$8,205,303 |
| 25 |
$15,824,692 |
$5,815,466
$1,395,738 |
$8,613,488 |
| 26 |
$16,616,220 |
$6,108,332
$1,465,551 |
$9,042,337 |
| 27 |
$17,446,868 |
$6,415,672
$1,538,814 |
$9,492,382 |
| 28 |
$18,319,244 |
$6,738,451
$1,615,757 |
$9,965,036 |
| 29 |
$19,235,304 |
$7,077,393
$1,696,554 |
$10,461,357 |
| 30 |
$20,197,004 |
$7,433,222
$1,781,376 |
$10,982,406 |
|
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