Mega Millions · New York · 10.9% state tax
Mega Millions after taxes in New York: payout calculator
The current Mega Millions jackpot is $345 million, with a cash value of $139.6 million. A New York winner would keep about $72.7 million as a lump sum after the 37% federal rate and New York’s 10.9% — or $179.7 million spread over 30 annuity payments.
Jackpot estimate as of October 4, 2026. These figures refresh automatically when a new jackpot is announced.
Calculate any Mega Millions jackpot in New York
Change the jackpot and the cash value follows at today’s ratio of 40%; you can also type the cash value yourself.
| Your win | Lump sum | Annuity (30 payments) |
|---|---|---|
| Before taxes | $139,600,000 | $345,000,000 |
| Federal tax (37%) | −$51,652,000 | −$127,650,000 |
| New York tax (10.9%) | −$15,216,400 | −$37,605,000 |
| You keep | $72,731,600 | $179,745,000 |
Lump sum: what a New York winner keeps
Take the cash option and you get the jackpot’s cash value — currently 40% of the advertised amount — in one payment. Federal tax takes 37%: the lottery withholds 24% when you claim, and the rest is due when you file. New York then takes its 10.9%.
| Lump sum | Amount |
|---|---|
| Cash value | $139,600,000 |
| Federal income tax (37%) | −$51,652,000 |
| New York state tax (10.9%) | −$15,216,400 |
| You keep | $72,731,600 |
Annuity: 30 payments over 29 years
The annuity pays the full advertised jackpot: one payment when you claim and 29 more once a year, each 5% bigger than the last. Each payment is taxed in the year you receive it, so a New York winner keeps about 52.1% of every check.
| Annuity | Before taxes | After taxes |
|---|---|---|
| Payment 1 (at claim) | $5,192,745 | $2,705,420 |
| Payment 10 | $8,055,652 | $4,196,995 |
| Payment 20 | $13,121,808 | $6,836,462 |
| Payment 30 (final) | $21,374,043 | $11,135,876 |
| All 30 payments | $345,000,000 | $179,745,000 |
See all 30 payments
| # | When | Before taxes | After taxes |
|---|---|---|---|
| 1 | At claim | $5,192,745 | $2,705,420 |
| 2 | Year 2 | $5,452,382 | $2,840,691 |
| 3 | Year 3 | $5,725,001 | $2,982,726 |
| 4 | Year 4 | $6,011,252 | $3,131,862 |
| 5 | Year 5 | $6,311,814 | $3,288,455 |
| 6 | Year 6 | $6,627,405 | $3,452,878 |
| 7 | Year 7 | $6,958,775 | $3,625,522 |
| 8 | Year 8 | $7,306,714 | $3,806,798 |
| 9 | Year 9 | $7,672,050 | $3,997,138 |
| 10 | Year 10 | $8,055,652 | $4,196,995 |
| 11 | Year 11 | $8,458,435 | $4,406,844 |
| 12 | Year 12 | $8,881,356 | $4,627,187 |
| 13 | Year 13 | $9,325,424 | $4,858,546 |
| 14 | Year 14 | $9,791,695 | $5,101,473 |
| 15 | Year 15 | $10,281,280 | $5,356,547 |
| 16 | Year 16 | $10,795,344 | $5,624,374 |
| 17 | Year 17 | $11,335,111 | $5,905,593 |
| 18 | Year 18 | $11,901,867 | $6,200,873 |
| 19 | Year 19 | $12,496,960 | $6,510,916 |
| 20 | Year 20 | $13,121,808 | $6,836,462 |
| 21 | Year 21 | $13,777,899 | $7,178,285 |
| 22 | Year 22 | $14,466,794 | $7,537,199 |
| 23 | Year 23 | $15,190,133 | $7,914,059 |
| 24 | Year 24 | $15,949,640 | $8,309,762 |
| 25 | Year 25 | $16,747,122 | $8,725,251 |
| 26 | Year 26 | $17,584,478 | $9,161,513 |
| 27 | Year 27 | $18,463,702 | $9,619,589 |
| 28 | Year 28 | $19,386,887 | $10,100,568 |
| 29 | Year 29 | $20,356,231 | $10,605,597 |
| 30 | Year 30 | $21,374,043 | $11,135,876 |
How New York taxes lottery winnings
New York taxes lottery winnings as ordinary income at up to 10.9%. On a jackpot-size prize nearly every dollar falls in the top bracket, so plan on the full 10.9% — about $10.9 million of every $100 million in cash value.
New York’s 10.9% is the highest state tax on lottery winnings anywhere Mega Millions is sold.
New York City residents also owe city income tax of up to 3.876%, which pushes a city winner’s combined state and city rate to about 14.8% — the highest in the country. Yonkers residents pay a surcharge on their state tax as well. Use the local-tax option in the calculator to see the city figure.
On the current jackpot, New York takes $15.2 million of the lump sum — money a winner in Texas or Florida, which don’t tax lottery prizes, would keep.
New York vs. neighboring states
What the current Mega Millions jackpot’s lump sum is worth after taxes in New York and next door. Buying a ticket across the state line doesn’t get you out of New York’s tax: you generally owe it as a resident, with a credit for tax paid to the state that sold the ticket.
| State | Tax on the win | Lump sum after taxes |
|---|---|---|
| New York | 10.9% | $72.7 million |
| Connecticut | 6.99% | $78.2 million |
| Massachusetts | 9% | $75.4 million |
| New Jersey | 10.75% | $72.9 million |
| Pennsylvania | 3.07% | $83.7 million |
| Vermont | 8.75% | $75.7 million |
Mega Millions taxes in New York: common questions
How much would a New York winner keep from a Mega Millions jackpot?
About 52.1% of the cash value. Federal tax takes 37% and New York takes 10.9%, so a New York winner keeps about $52.1 million of every $100 million in cash. With the annuity, the same 52.1% applies to the full advertised jackpot, paid over 30 years.
Does New York tax lottery winnings?
Yes. New York taxes lottery winnings as income at up to 10.9%. New York City residents owe up to 3.876% more in city tax.
Should a New York winner take the lump sum or the annuity?
It depends on what you’d do with the money. The lump sum pays the cash value now — recently around 40–45% of the advertised jackpot — and you keep about 52.1% of it after taxes in New York. The annuity pays the whole advertised jackpot over 29 years in 30 payments, each 5% larger than the last, taxed as you receive them. Take the cash if you’d invest it at least as well as long-term Treasury bonds pay; take the annuity if you want protection from spending it too fast.
How much tax is withheld when you claim a Mega Millions prize in New York?
The lottery withholds 24% for federal tax on any prize over $5,000. A jackpot puts you in the 37% bracket, so you’ll owe roughly another 13% when you file. New York may also withhold state tax when you claim; any balance of its 10.9% is due with your state return.
When is the Mega Millions drawing, and how much is a ticket?
Mega Millions draws every Tuesday and Friday at 11 p.m. Eastern. A ticket costs $5 — every play includes a built-in 2X to 10X multiplier on the non-jackpot prizes — and the odds of hitting the jackpot are 1 in 290,472,336.
Play it out
Numbers are the start, not the story. Play Mega Millions with the official odds and see how long a jackpot really takes — then take your after-tax New York figure into the planner and give every dollar a job: Treasuries, index funds, real estate, the house, the cars, family and giving, with a 30-year projection that shows whether the money lasts.