The jackpot for the MEGA Millions draw on Tue Oct 28, 2025, is projected to be $714 Million, with an option for a cash payout of $334.1 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 Oct 28, 2025 |
|---|
| Draw Date | Tue Oct 28, 2025 | | Projected Jackpot | $714,000,000 | | Cash Value | $334,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $334,100,000 | | Federal Tax(24%) | $80,184,000 | | Additional Federal Tax | $43,393,330 | | State Tax(8.82%) | $29,467,620 | | Net Lumpsum Payment | $181,055,050 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,746,414 |
$3,936,504
$947,834 |
$5,862,076 |
| 2 |
$11,284,056 |
$4,135,431
$995,254 |
$6,153,371 |
| 3 |
$11,848,116 |
$4,344,133
$1,045,004 |
$6,458,979 |
| 4 |
$12,440,736 |
$4,563,403
$1,097,273 |
$6,780,060 |
| 5 |
$13,062,630 |
$4,793,503
$1,152,124 |
$7,117,003 |
| 6 |
$13,715,940 |
$5,035,228
$1,209,746 |
$7,470,966 |
| 7 |
$14,401,380 |
$5,288,841
$1,270,202 |
$7,842,337 |
| 8 |
$15,121,806 |
$5,555,399
$1,333,743 |
$8,232,664 |
| 9 |
$15,877,932 |
$5,835,165
$1,400,434 |
$8,642,333 |
| 10 |
$16,671,900 |
$6,128,933
$1,470,462 |
$9,072,505 |
| 11 |
$17,505,138 |
$6,437,231
$1,543,953 |
$9,523,954 |
| 12 |
$18,380,502 |
$6,761,116
$1,621,160 |
$9,998,226 |
| 13 |
$19,299,420 |
$7,101,116
$1,702,209 |
$10,496,095 |
| 14 |
$20,264,748 |
$7,458,287
$1,787,351 |
$11,019,110 |
| 15 |
$21,277,914 |
$7,833,159
$1,876,712 |
$11,568,043 |
| 16 |
$22,341,774 |
$8,226,787
$1,970,544 |
$12,144,443 |
| 17 |
$23,458,470 |
$8,639,964
$2,069,037 |
$12,749,469 |
| 18 |
$24,631,572 |
$9,074,012
$2,172,505 |
$13,385,055 |
| 19 |
$25,863,222 |
$9,529,723
$2,281,136 |
$14,052,363 |
| 20 |
$27,156,276 |
$10,008,153
$2,395,184 |
$14,752,939 |
| 21 |
$28,514,304 |
$10,510,623
$2,514,962 |
$15,488,719 |
| 22 |
$29,940,162 |
$11,038,190
$2,640,722 |
$16,261,250 |
| 23 |
$31,436,706 |
$11,591,912
$2,772,717 |
$17,072,077 |
| 24 |
$33,008,934 |
$12,173,636
$2,911,388 |
$17,923,910 |
| 25 |
$34,658,988 |
$12,784,156
$3,056,923 |
$18,817,909 |
| 26 |
$36,392,580 |
$13,425,585
$3,209,826 |
$19,757,169 |
| 27 |
$38,211,852 |
$14,098,716
$3,370,285 |
$20,742,851 |
| 28 |
$40,122,516 |
$14,805,661
$3,538,806 |
$21,778,049 |
| 29 |
$42,128,856 |
$15,548,007
$3,715,765 |
$22,865,084 |
| 30 |
$44,235,156 |
$16,327,338
$3,901,541 |
$24,006,277 |
|
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