The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(8.82%) | $1,764,000 | | Net Lumpsum Payment | $10,875,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$57,082 |
$390,319 |
| 2 |
$679,572 |
$211,772
$59,938 |
$407,862 |
| 3 |
$713,542 |
$224,341
$62,934 |
$426,267 |
| 4 |
$749,232 |
$237,546
$66,082 |
$445,604 |
| 5 |
$786,685 |
$251,404
$69,386 |
$465,895 |
| 6 |
$826,030 |
$265,961
$72,856 |
$487,213 |
| 7 |
$867,310 |
$281,235
$76,497 |
$509,578 |
| 8 |
$910,697 |
$297,288
$80,323 |
$533,086 |
| 9 |
$956,234 |
$314,137
$84,340 |
$557,757 |
| 10 |
$1,004,050 |
$331,829
$88,557 |
$583,664 |
| 11 |
$1,054,231 |
$350,396
$92,983 |
$610,852 |
| 12 |
$1,106,949 |
$369,902
$97,633 |
$639,414 |
| 13 |
$1,162,290 |
$390,378
$102,514 |
$669,398 |
| 14 |
$1,220,426 |
$411,888
$107,642 |
$700,896 |
| 15 |
$1,281,443 |
$434,464
$113,023 |
$733,956 |
| 16 |
$1,345,513 |
$458,170
$118,674 |
$768,669 |
| 17 |
$1,412,765 |
$483,053
$124,606 |
$805,106 |
| 18 |
$1,483,414 |
$509,194
$130,837 |
$843,383 |
| 19 |
$1,557,589 |
$536,638
$137,379 |
$883,572 |
| 20 |
$1,635,462 |
$565,451
$144,248 |
$925,763 |
| 21 |
$1,717,248 |
$595,712
$151,461 |
$970,075 |
| 22 |
$1,803,119 |
$627,484
$159,035 |
$1,016,600 |
| 23 |
$1,893,247 |
$660,832
$166,984 |
$1,065,431 |
| 24 |
$1,987,933 |
$695,866
$175,336 |
$1,116,731 |
| 25 |
$2,087,306 |
$732,634
$184,100 |
$1,170,572 |
| 26 |
$2,191,710 |
$771,263
$193,309 |
$1,227,138 |
| 27 |
$2,301,274 |
$811,802
$202,972 |
$1,286,500 |
| 28 |
$2,416,342 |
$854,377
$213,121 |
$1,348,844 |
| 29 |
$2,537,172 |
$899,084
$223,779 |
$1,414,309 |
| 30 |
$2,664,022 |
$946,019
$234,967 |
$1,483,036 |
|
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