Mega Millions Tax Breakdown
Tuesday, June 2, 2026
Annuity (30 years)
$346,000,000
Cash Option
$153,800,000
After-Tax Payouts by State
Federal tax: 37% marginal rate • Click any state for 30-year schedule
| State | State Tax | Annuity (After Tax) | Cash (After Tax) | |
|---|---|---|---|---|
| Arizona | 2.5% | $210,584,367 | $93,090,812 | |
| Arkansas | 3.9% | $205,740,367 | $90,937,612 | |
| California | 0% | $219,234,367 | $96,935,812 | |
| Colorado | 4% | $205,394,367 | $90,783,812 | |
| Connecticut | 6.99% | $195,048,967 | $86,185,192 | |
| Delaware | 6.6% | $196,398,367 | $86,785,012 | |
| District of Columbia | 8.5% | $189,824,367 | $83,862,812 | |
| Florida | 0% | $219,234,367 | $96,935,812 | |
| Georgia | 5.75% | $199,339,367 | $88,092,312 | |
| Idaho | 6% | $198,474,367 | $87,707,812 | |
| Illinois | 4.95% | $202,107,367 | $89,322,712 | |
| Indiana | 3.15% | $208,335,367 | $92,091,112 | |
| Iowa | 5% | $201,934,367 | $89,245,812 | |
| Kansas | 5% | $201,934,367 | $89,245,812 | |
| Kentucky | 4.5% | $203,664,367 | $90,014,812 | |
| Louisiana | 4.25% | $204,529,367 | $90,399,312 | |
| Maine | 7.15% | $194,495,367 | $85,939,112 | |
| Maryland | 8.75% | $188,959,367 | $83,478,312 | |
| Massachusetts | 5% | $201,934,367 | $89,245,812 | |
| Michigan | 4.25% | $204,529,367 | $90,399,312 | |
| Minnesota | 7.25% | $194,149,367 | $85,785,312 | |
| Missouri | 4% | $205,394,367 | $90,783,812 | |
| Montana | 6.75% | $195,879,367 | $86,554,312 | |
| Nebraska | 5% | $201,934,367 | $89,245,812 | |
| New Hampshire | 0% | $219,234,367 | $96,935,812 | |
| New Jersey | 8% | $191,554,367 | $84,631,812 | |
| New Mexico | 6% | $198,474,367 | $87,707,812 | |
| New York | 8.82% | $188,717,167 | $83,370,652 | |
| North Carolina | 4.75% | $202,799,367 | $89,630,312 | |
| North Dakota | 2.9% | $209,200,367 | $92,475,612 | |
| Ohio | 3.99% | $205,428,967 | $90,799,192 | |
| Oklahoma | 4.75% | $202,799,367 | $89,630,312 | |
| Oregon | 8% | $191,554,367 | $84,631,812 | |
| Pennsylvania | 3.07% | $208,612,167 | $92,214,152 | |
| Puerto Rico | 0% | $219,234,367 | $96,935,812 | |
| Rhode Island | 5.99% | $198,508,967 | $87,723,192 | |
| South Carolina | 7% | $195,014,367 | $86,169,812 | |
| South Dakota | 0% | $219,234,367 | $96,935,812 | |
| Tennessee | 0% | $219,234,367 | $96,935,812 | |
| Texas | 0% | $219,234,367 | $96,935,812 | |
| US Virgin Islands | 0% | $219,234,367 | $96,935,812 | |
| Vermont | 6% | $198,474,367 | $87,707,812 | |
| Virginia | 4% | $205,394,367 | $90,783,812 | |
| Washington | 0% | $219,234,367 | $96,935,812 | |
| West Virginia | 6.5% | $196,744,367 | $86,938,812 | |
| Wisconsin | 7.65% | $192,765,367 | $85,170,112 | |
| Wyoming | 0% | $219,234,367 | $96,935,812 |
Tax Planning Tips
- • Annuity vs. Cash: Annuity provides 30 years of growing payments (~5 percent annual increase). Cash option is about 47 percent of annuity value.
- • Federal Taxes: Top marginal rate of 37 percent applies to lottery winnings over the highest bracket thresholds.
- • State Taxes Vary: Some states have no income tax on lottery winnings, while others are much higher.
- • Do Not Forget: Additional taxes may apply (Medicare surtax, local taxes). Consult a tax professional immediately.
- • Anonymity: Some states allow winners to remain anonymous. Check your state's laws before claiming.
Cash vs. Annuity Decision
Choose Annuity If:
- • You want guaranteed income for 30 years
- • You are worried about spending it all too quickly
- • You prefer protection from bad investments
- • You want payments to grow about 5 percent annually
Choose Cash If:
- • You have a solid investment plan
- • You can earn more than 5 percent annual returns safely
- • You want full control of your money now
- • You have expert financial advisors