The jackpot for the MEGA Millions draw on Tue Apr 22, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Apr 22, 2025 |
|---|
| Draw Date | Tue Apr 22, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(8.82%) | $1,975,680 | | Net Lumpsum Payment | $12,175,990 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$66,375 |
$447,401 |
| 2 |
$790,200 |
$252,704
$69,696 |
$467,800 |
| 3 |
$829,700 |
$267,319
$73,180 |
$489,201 |
| 4 |
$871,200 |
$282,674
$76,840 |
$511,686 |
| 5 |
$914,750 |
$298,788
$80,681 |
$535,281 |
| 6 |
$960,500 |
$315,715
$84,716 |
$560,069 |
| 7 |
$1,008,500 |
$333,475
$88,950 |
$586,075 |
| 8 |
$1,058,950 |
$352,142
$93,399 |
$613,409 |
| 9 |
$1,111,900 |
$371,733
$98,070 |
$642,097 |
| 10 |
$1,167,500 |
$392,305
$102,974 |
$672,221 |
| 11 |
$1,225,850 |
$413,895
$108,120 |
$703,835 |
| 12 |
$1,287,150 |
$436,576
$113,527 |
$737,047 |
| 13 |
$1,351,500 |
$460,385
$119,202 |
$771,913 |
| 14 |
$1,419,100 |
$485,397
$125,165 |
$808,538 |
| 15 |
$1,490,050 |
$511,649
$131,422 |
$846,979 |
| 16 |
$1,564,550 |
$539,214
$137,993 |
$887,343 |
| 17 |
$1,642,750 |
$568,148
$144,891 |
$929,711 |
| 18 |
$1,724,900 |
$598,543
$152,136 |
$974,221 |
| 19 |
$1,811,150 |
$630,456
$159,743 |
$1,020,951 |
| 20 |
$1,901,700 |
$663,959
$167,730 |
$1,070,011 |
| 21 |
$1,996,800 |
$699,146
$176,118 |
$1,121,536 |
| 22 |
$2,096,650 |
$736,091
$184,925 |
$1,175,634 |
| 23 |
$2,201,450 |
$774,867
$194,168 |
$1,232,415 |
| 24 |
$2,311,550 |
$815,604
$203,879 |
$1,292,067 |
| 25 |
$2,427,100 |
$858,357
$214,070 |
$1,354,673 |
| 26 |
$2,548,500 |
$903,275
$224,778 |
$1,420,447 |
| 27 |
$2,675,900 |
$950,413
$236,014 |
$1,489,473 |
| 28 |
$2,809,700 |
$999,919
$247,816 |
$1,561,965 |
| 29 |
$2,950,200 |
$1,051,904
$260,208 |
$1,638,088 |
| 30 |
$3,097,700 |
$1,106,479
$273,217 |
$1,718,004 |
|
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