Mega Millions payout calculator
Mega Millions
Calculator
Estimate your Mega Millions take-home winnings after federal and state taxes. Compare the cash option with the 30-year annuity.
Free calculator
Calculate your take-home winnings
Enter the jackpot amount and choose your state.
Enter the announced jackpot amount
State taxes can make a big difference
Uses current federal and state tax estimates. No signup required.
- Simpleand free
- Accuratestate tax rates
- All 50 statessupported
- Data from official sourcesFederal IRS rates and state tax guidelines
- No personal informationCalculate instantly, no account needed
$261,000,000 in California
The advertised jackpot is what the annuity pays over thirty years. The cash option is what it costs the lottery to buy that annuity today, which is why the two numbers are so far apart.
Lump sum
Cash option, paid once
$69,665,000
take home after tax
- Gross
- $110,500,000
- Withheld up front at 24%
- -$26,520,000
- Still owed at filing
- -$14,315,000
- California tax at 0%
- -$0
- Effective rate
- 37.0%
30-year annuity
Thirty payments, rising 5% a year
$165,929,993
take home after tax
- Gross
- $261,000,000
- Withheld up front at 24%
- -$62,640,000
- Still owed at filing
- -$32,430,007
- California tax at 0%
- -$0
- Effective rate
- 36.4%
What this assumes
Cash value of $110,500,000, which is 42.3% of the jackpot. Taken from the official Mega Millions feed.
24% is withheld up front. It is a prepayment, not the tax, so a balance falls due at filing.
Federal tax uses the 2026 brackets to 37% (IRS Revenue Procedure 2025-32), with the prize treated as your only income and the standard deduction applied.
State tax is 0% flat on the prize. California exempts California Lottery winnings from state income tax.
Estimates only. Results are for informational purposes and are not tax, legal, investment, or financial advice. Actual payouts and taxes may vary based on your circumstances.
30-year annuitypayment schedule
Each payment is 5% larger than the one before it, so the last year pays about four times the first. Tax is worked out separately on every payment.
California state tax: 0%
California exempts California Lottery winnings from state income tax.
- 30 paymentsOver 30 years
- 5% annual growthEach year's payment is 5% larger
- $165,929,993Total take home after tax
Annual payment growth
Hover a bar for that year's payment
Years 1 to 15
| Year | Payment | Federal tax | California | Take home |
|---|---|---|---|---|
| 1 | $3,928,425 | -$1,403,517 | -$0 | $2,524,907 |
| 2 | $4,124,846 | -$1,476,193 | -$0 | $2,648,653 |
| 3 | $4,331,088 | -$1,552,503 | -$0 | $2,778,585 |
| 4 | $4,547,642 | -$1,632,628 | -$0 | $2,915,015 |
| 5 | $4,775,025 | -$1,716,759 | -$0 | $3,058,265 |
| 6 | $5,013,776 | -$1,805,097 | -$0 | $3,208,679 |
| 7 | $5,264,465 | -$1,897,852 | -$0 | $3,366,612 |
| 8 | $5,527,688 | -$1,995,245 | -$0 | $3,532,443 |
| 9 | $5,804,072 | -$2,097,507 | -$0 | $3,706,565 |
| 10 | $6,094,276 | -$2,204,882 | -$0 | $3,889,394 |
| 11 | $6,398,990 | -$2,317,626 | -$0 | $4,081,363 |
| 12 | $6,718,939 | -$2,436,008 | -$0 | $4,282,931 |
| 13 | $7,054,886 | -$2,560,308 | -$0 | $4,494,578 |
| 14 | $7,407,630 | -$2,690,823 | -$0 | $4,716,807 |
| 15 | $7,778,012 | -$2,827,865 | -$0 | $4,950,147 |
Years 16 to 30
| Year | Payment | Federal tax | California | Take home |
|---|---|---|---|---|
| 16 | $8,166,913 | -$2,971,758 | -$0 | $5,195,155 |
| 17 | $8,575,258 | -$3,122,846 | -$0 | $5,452,412 |
| 18 | $9,004,021 | -$3,281,488 | -$0 | $5,722,533 |
| 19 | $9,454,222 | -$3,448,062 | -$0 | $6,006,160 |
| 20 | $9,926,933 | -$3,622,966 | -$0 | $6,303,968 |
| 21 | $10,423,280 | -$3,806,614 | -$0 | $6,616,666 |
| 22 | $10,944,444 | -$3,999,444 | -$0 | $6,944,999 |
| 23 | $11,491,666 | -$4,201,917 | -$0 | $7,289,749 |
| 24 | $12,066,249 | -$4,414,513 | -$0 | $7,651,737 |
| 25 | $12,669,562 | -$4,637,738 | -$0 | $8,031,824 |
| 26 | $13,303,040 | -$4,872,125 | -$0 | $8,430,915 |
| 27 | $13,968,192 | -$5,118,231 | -$0 | $8,849,961 |
| 28 | $14,666,601 | -$5,376,643 | -$0 | $9,289,959 |
| 29 | $15,399,932 | -$5,647,975 | -$0 | $9,751,957 |
| 30 | $16,169,928 | -$5,932,874 | -$0 | $10,237,054 |
30 year total
Totals may not add due to rounding.
Gross payments
$261,000,000
Federal tax
-$95,070,008
Total take home
$165,929,993
How it works
Three places the other calculators go wrong, and what this one does instead.
Start from the real cash value
The jackpot in the headlines is the annuity total, paid over thirty years. The cash option is what it costs the lottery to buy that annuity today, so it moves with interest rates. Right now that is $110,500,000 on a $261,000,000 jackpot, which is 42.3% and nothing like the 50 to 60% most sites still quote.
Take the federal tax to the end
24% is withheld the moment you claim. That is a prepayment, not the tax. A jackpot lands in the 37% bracket, so the rest falls due when you file. Calculators that stop at the 24% show you a take home you will never see.
Then apply your own state
Nine states take nothing, and California exempts lottery winnings outright. New York takes 10.9%, and New York City adds 3.876% on top. Same ticket, same jackpot, and a gap of tens of millions between the best state and the worst.
Game rules are the ones in force since 2025-04-08: 5 dollars a play, five numbers from 70 plus one Mega Ball from 24, jackpot odds of 1 in 290,472,336, and a multiplier of 2 to 10 times built into every ticket.
Mega Millions
Frequently Asked Questions
Clear answers to the most common questions about Mega Millions taxes, payouts, and how the calculator works.
The advertised jackpot is the total of thirty annuity payments spread over twenty nine years. The cash option is what it costs the lottery to buy that annuity today, so it tracks interest rates rather than a fixed percentage. In September 2026 it sat at about 43% of the advertised figure, well below the 50 to 60% that most guides still repeat.
No. The lottery withholds 24% of any prize over 5,000 dollars and sends it to the IRS as a prepayment. A jackpot puts you in the top federal bracket of 37%, so the difference falls due when you file your return. A calculator that stops at 24% is showing you a number you will never bank.
Before tax the annuity always pays more, because the advertised jackpot is the annuity. After tax the annuity usually still wins, since each of the thirty payments runs up the brackets on its own rather than all of it landing in one year. The lump sum wins on control: you have the money now and what you do with it is yours to decide.
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