The jackpot for the MEGA Millions draw on Fri Jul 3, 2026, is projected to be $542 Million, with an option for a cash payout of $242 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 Jul 3, 2026 |
|---|
| Draw Date | Fri Jul 3, 2026 | | Projected Jackpot | $542,000,000 | | Cash Value | $242,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $242,000,000 | | Federal Tax(24%) | $58,080,000 | | Additional Federal Tax | $31,420,330 | | State Tax(8.82%) | $21,344,400 | | Net Lumpsum Payment | $131,155,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$719,504 |
$4,459,480 |
| 2 |
$8,565,768 |
$3,129,665
$755,501 |
$4,680,602 |
| 3 |
$8,993,948 |
$3,288,091
$793,266 |
$4,912,591 |
| 4 |
$9,443,808 |
$3,454,539
$832,944 |
$5,156,325 |
| 5 |
$9,915,890 |
$3,629,210
$874,581 |
$5,412,099 |
| 6 |
$10,411,820 |
$3,812,704
$918,323 |
$5,680,793 |
| 7 |
$10,932,140 |
$4,005,222
$964,215 |
$5,962,703 |
| 8 |
$11,479,018 |
$4,207,567
$1,012,449 |
$6,259,002 |
| 9 |
$12,052,996 |
$4,419,939
$1,063,074 |
$6,569,983 |
| 10 |
$12,655,700 |
$4,642,939
$1,116,233 |
$6,896,528 |
| 11 |
$13,288,214 |
$4,876,970
$1,172,020 |
$7,239,224 |
| 12 |
$13,952,706 |
$5,122,832
$1,230,629 |
$7,599,245 |
| 13 |
$14,650,260 |
$5,380,927
$1,292,153 |
$7,977,180 |
| 14 |
$15,383,044 |
$5,652,057
$1,356,784 |
$8,374,203 |
| 15 |
$16,152,142 |
$5,936,623
$1,424,619 |
$8,790,900 |
| 16 |
$16,959,722 |
$6,235,428
$1,495,847 |
$9,228,447 |
| 17 |
$17,807,410 |
$6,549,072
$1,570,614 |
$9,687,724 |
| 18 |
$18,697,916 |
$6,878,559
$1,649,156 |
$10,170,201 |
| 19 |
$19,632,866 |
$7,224,491
$1,731,619 |
$10,676,756 |
| 20 |
$20,614,428 |
$7,587,669
$1,818,193 |
$11,208,566 |
| 21 |
$21,645,312 |
$7,969,096
$1,909,117 |
$11,767,099 |
| 22 |
$22,727,686 |
$8,369,574
$2,004,582 |
$12,353,530 |
| 23 |
$23,863,718 |
$8,789,906
$2,104,780 |
$12,969,032 |
| 24 |
$25,057,202 |
$9,231,495
$2,210,045 |
$13,615,662 |
| 25 |
$26,309,764 |
$9,694,943
$2,320,521 |
$14,294,300 |
| 26 |
$27,625,740 |
$10,181,854
$2,436,590 |
$15,007,296 |
| 27 |
$29,006,756 |
$10,692,830
$2,558,396 |
$15,755,530 |
| 28 |
$30,457,148 |
$11,229,475
$2,686,320 |
$16,541,353 |
| 29 |
$31,980,168 |
$11,792,993
$2,820,651 |
$17,366,524 |
| 30 |
$33,579,068 |
$12,384,586
$2,961,674 |
$18,232,808 |
|
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