The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 May 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(8.82%) | $11,342,520 | | Net Lumpsum Payment | $69,715,150 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$392,939 |
$2,453,441 |
| 2 |
$4,677,984 |
$1,691,184
$412,598 |
$2,574,202 |
| 3 |
$4,911,824 |
$1,777,705
$433,223 |
$2,700,896 |
| 4 |
$5,157,504 |
$1,868,607
$454,892 |
$2,834,005 |
| 5 |
$5,415,320 |
$1,963,999
$477,631 |
$2,973,690 |
| 6 |
$5,686,160 |
$2,064,210
$501,519 |
$3,120,431 |
| 7 |
$5,970,320 |
$2,169,349
$526,582 |
$3,274,389 |
| 8 |
$6,268,984 |
$2,279,854
$552,924 |
$3,436,206 |
| 9 |
$6,582,448 |
$2,395,836
$580,572 |
$3,606,040 |
| 10 |
$6,911,600 |
$2,517,622
$609,603 |
$3,784,375 |
| 11 |
$7,257,032 |
$2,645,432
$640,070 |
$3,971,530 |
| 12 |
$7,619,928 |
$2,779,704
$672,078 |
$4,168,146 |
| 13 |
$8,000,880 |
$2,920,656
$705,678 |
$4,374,546 |
| 14 |
$8,401,072 |
$3,068,727
$740,975 |
$4,591,370 |
| 15 |
$8,821,096 |
$3,224,136
$778,021 |
$4,818,939 |
| 16 |
$9,262,136 |
$3,387,321
$816,920 |
$5,057,895 |
| 17 |
$9,725,080 |
$3,558,610
$857,752 |
$5,308,718 |
| 18 |
$10,211,408 |
$3,738,551
$900,646 |
$5,572,211 |
| 19 |
$10,722,008 |
$3,927,473
$945,681 |
$5,848,854 |
| 20 |
$11,258,064 |
$4,125,814
$992,961 |
$6,139,289 |
| 21 |
$11,821,056 |
$4,334,121
$1,042,617 |
$6,444,318 |
| 22 |
$12,412,168 |
$4,552,833
$1,094,753 |
$6,764,582 |
| 23 |
$13,032,584 |
$4,782,386
$1,149,474 |
$7,100,724 |
| 24 |
$13,684,376 |
$5,023,550
$1,206,962 |
$7,453,864 |
| 25 |
$14,368,432 |
$5,276,650
$1,267,296 |
$7,824,486 |
| 26 |
$15,087,120 |
$5,542,565
$1,330,684 |
$8,213,871 |
| 27 |
$15,841,328 |
$5,821,622
$1,397,205 |
$8,622,501 |
| 28 |
$16,633,424 |
$6,114,697
$1,467,068 |
$9,051,659 |
| 29 |
$17,465,184 |
$6,422,448
$1,540,429 |
$9,502,307 |
| 30 |
$18,338,384 |
$6,745,532
$1,617,445 |
$9,975,407 |
|
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