Mega Millions

Tax Estimate

A rough take-home estimate for a jackpot (lump sum or annuity). What does this mean?

This site does not guarantee winning. Lottery draws are random and past results do not predict future results. Every chart here describes the past. It cannot raise your chances of winning.

Rough tax estimate

Mega Millions advertised jackpot (annuity amount, $)Cash option as % of advertised (usually roughly 45-60%, check the announcement)Payout choiceState where the ticket was bought

Very approximate and for fun only. It uses a flat 24% federal withholding and a flat 37% top federal rate, plus a simple state rate. Real taxes depend on your other income, filing status, deductions and where you live or bought the ticket. This is not tax advice.

If you take the lump sum

Cash prize: $50,000,000
Federal withholding at payout (24%): -$12,000,000
Estimated total federal tax (about 37%): -$18,500,000
…still owed at tax time after withholding: $6,500,000
Estimated state tax (0.00%): -$0
Rough take-home: $31,500,000

That is about 32% of the advertised jackpot. Real jackpots are also split when several tickets win.

Looking for one state? See the Mega Millions tax calculator by state.