The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(8.82%) | $2,804,760 | | Net Lumpsum Payment | $17,268,910 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$92,925 |
$610,494 |
| 2 |
$1,106,280 |
$369,654
$97,574 |
$639,052 |
| 3 |
$1,161,580 |
$390,115
$102,451 |
$669,014 |
| 4 |
$1,219,680 |
$411,612
$107,576 |
$700,492 |
| 5 |
$1,280,650 |
$434,171
$112,953 |
$733,526 |
| 6 |
$1,344,700 |
$457,869
$118,603 |
$768,228 |
| 7 |
$1,411,900 |
$482,733
$124,530 |
$804,637 |
| 8 |
$1,482,530 |
$508,866
$130,759 |
$842,905 |
| 9 |
$1,556,660 |
$536,295
$137,297 |
$883,068 |
| 10 |
$1,634,500 |
$565,095
$144,163 |
$925,242 |
| 11 |
$1,716,190 |
$595,321
$151,368 |
$969,501 |
| 12 |
$1,802,010 |
$627,074
$158,937 |
$1,015,999 |
| 13 |
$1,892,100 |
$660,407
$166,883 |
$1,064,810 |
| 14 |
$1,986,740 |
$695,424
$175,230 |
$1,116,086 |
| 15 |
$2,086,070 |
$732,176
$183,991 |
$1,169,903 |
| 16 |
$2,190,370 |
$770,767
$193,191 |
$1,226,412 |
| 17 |
$2,299,850 |
$811,275
$202,847 |
$1,285,728 |
| 18 |
$2,414,860 |
$853,829
$212,991 |
$1,348,040 |
| 19 |
$2,535,610 |
$898,506
$223,641 |
$1,413,463 |
| 20 |
$2,662,380 |
$945,411
$234,822 |
$1,482,147 |
| 21 |
$2,795,520 |
$994,673
$246,565 |
$1,554,282 |
| 22 |
$2,935,310 |
$1,046,395
$258,894 |
$1,630,021 |
| 23 |
$3,082,030 |
$1,100,681
$271,835 |
$1,709,514 |
| 24 |
$3,236,170 |
$1,157,713
$285,430 |
$1,793,027 |
| 25 |
$3,397,940 |
$1,217,568
$299,698 |
$1,880,674 |
| 26 |
$3,567,900 |
$1,280,453
$314,689 |
$1,972,758 |
| 27 |
$3,746,260 |
$1,346,447
$330,420 |
$2,069,393 |
| 28 |
$3,933,580 |
$1,415,755
$346,942 |
$2,170,883 |
| 29 |
$4,130,280 |
$1,488,534
$364,291 |
$2,277,455 |
| 30 |
$4,336,780 |
$1,564,939
$382,504 |
$2,389,337 |
|
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