The jackpot for the MEGA Millions draw on Tue Feb 24, 2026, is projected to be $438 Million, with an option for a cash payout of $203.1 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 Feb 24, 2026 |
|---|
| Draw Date | Tue Feb 24, 2026 | | Projected Jackpot | $438,000,000 | | Cash Value | $203,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $203,100,000 | | Federal Tax(24%) | $48,744,000 | | Additional Federal Tax | $26,363,330 | | State Tax(8.82%) | $17,913,420 | | Net Lumpsum Payment | $110,079,250 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$581,444 |
$3,611,399 |
| 2 |
$6,922,152 |
$2,521,527
$610,534 |
$3,790,091 |
| 3 |
$7,268,172 |
$2,649,554
$641,053 |
$3,977,565 |
| 4 |
$7,631,712 |
$2,784,064
$673,117 |
$4,174,531 |
| 5 |
$8,013,210 |
$2,925,218
$706,765 |
$4,381,227 |
| 6 |
$8,413,980 |
$3,073,503
$742,113 |
$4,598,364 |
| 7 |
$8,834,460 |
$3,229,081
$779,199 |
$4,826,180 |
| 8 |
$9,276,402 |
$3,392,599
$818,179 |
$5,065,624 |
| 9 |
$9,740,244 |
$3,564,221
$859,090 |
$5,316,933 |
| 10 |
$10,227,300 |
$3,744,431
$902,048 |
$5,580,821 |
| 11 |
$10,738,446 |
$3,933,555
$947,131 |
$5,857,760 |
| 12 |
$11,275,434 |
$4,132,241
$994,493 |
$6,148,700 |
| 13 |
$11,839,140 |
$4,340,812
$1,044,212 |
$6,454,116 |
| 14 |
$12,431,316 |
$4,559,917
$1,096,442 |
$6,774,957 |
| 15 |
$13,052,838 |
$4,789,880
$1,151,260 |
$7,111,698 |
| 16 |
$13,705,458 |
$5,031,350
$1,208,821 |
$7,465,287 |
| 17 |
$14,390,490 |
$5,284,812
$1,269,241 |
$7,836,437 |
| 18 |
$15,110,124 |
$5,551,076
$1,332,713 |
$8,226,335 |
| 19 |
$15,865,674 |
$5,830,630
$1,399,352 |
$8,635,692 |
| 20 |
$16,658,892 |
$6,124,120
$1,469,314 |
$9,065,458 |
| 21 |
$17,491,968 |
$6,432,359
$1,542,792 |
$9,516,817 |
| 22 |
$18,366,654 |
$6,755,992
$1,619,939 |
$9,990,723 |
| 23 |
$19,284,702 |
$7,095,670
$1,700,911 |
$10,488,121 |
| 24 |
$20,249,178 |
$7,452,526
$1,785,977 |
$11,010,675 |
| 25 |
$21,261,396 |
$7,827,047
$1,875,255 |
$11,559,094 |
| 26 |
$22,324,860 |
$8,220,529
$1,969,053 |
$12,135,278 |
| 27 |
$23,440,884 |
$8,633,457
$2,067,486 |
$12,739,941 |
| 28 |
$24,612,972 |
$9,067,130
$2,170,864 |
$13,374,978 |
| 29 |
$25,843,752 |
$9,522,519
$2,279,419 |
$14,041,814 |
| 30 |
$27,135,852 |
$10,000,596
$2,393,382 |
$14,741,874 |
|
|
