Mega Millions Tax Breakdown
Tuesday, July 28, 2026
Annuity (30 years)
$800,000,000
Cash Option
$344,200,000
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% | $485,254,367 | $208,282,812 | |
| Arkansas | 3.9% | $474,054,367 | $203,464,012 | |
| California | 0% | $505,254,367 | $216,887,812 | |
| Colorado | 4% | $473,254,367 | $203,119,812 | |
| Connecticut | 6.99% | $449,334,367 | $192,828,232 | |
| Delaware | 6.6% | $452,454,367 | $194,170,612 | |
| District of Columbia | 8.5% | $437,254,367 | $187,630,812 | |
| Florida | 0% | $505,254,367 | $216,887,812 | |
| Georgia | 5.75% | $459,254,367 | $197,096,312 | |
| Idaho | 6% | $457,254,367 | $196,235,812 | |
| Illinois | 4.95% | $465,654,367 | $199,849,912 | |
| Indiana | 3.15% | $480,054,367 | $206,045,512 | |
| Iowa | 5% | $465,254,367 | $199,677,812 | |
| Kansas | 5% | $465,254,367 | $199,677,812 | |
| Kentucky | 4.5% | $469,254,367 | $201,398,812 | |
| Louisiana | 4.25% | $471,254,367 | $202,259,312 | |
| Maine | 7.15% | $448,054,367 | $192,277,512 | |
| Maryland | 8.75% | $435,254,367 | $186,770,312 | |
| Massachusetts | 5% | $465,254,367 | $199,677,812 | |
| Michigan | 4.25% | $471,254,367 | $202,259,312 | |
| Minnesota | 7.25% | $447,254,367 | $191,933,312 | |
| Missouri | 4% | $473,254,367 | $203,119,812 | |
| Montana | 6.75% | $451,254,367 | $193,654,312 | |
| Nebraska | 5% | $465,254,367 | $199,677,812 | |
| New Hampshire | 0% | $505,254,367 | $216,887,812 | |
| New Jersey | 8% | $441,254,367 | $189,351,812 | |
| New Mexico | 6% | $457,254,367 | $196,235,812 | |
| New York | 8.82% | $434,694,367 | $186,529,372 | |
| North Carolina | 4.75% | $467,254,367 | $200,538,312 | |
| North Dakota | 2.9% | $482,054,367 | $206,906,012 | |
| Ohio | 3.99% | $473,334,367 | $203,154,232 | |
| Oklahoma | 4.75% | $467,254,367 | $200,538,312 | |
| Oregon | 8% | $441,254,367 | $189,351,812 | |
| Pennsylvania | 3.07% | $480,694,367 | $206,320,872 | |
| Puerto Rico | 0% | $505,254,367 | $216,887,812 | |
| Rhode Island | 5.99% | $457,334,367 | $196,270,232 | |
| South Carolina | 7% | $449,254,367 | $192,793,812 | |
| South Dakota | 0% | $505,254,367 | $216,887,812 | |
| Tennessee | 0% | $505,254,367 | $216,887,812 | |
| Texas | 0% | $505,254,367 | $216,887,812 | |
| US Virgin Islands | 0% | $505,254,367 | $216,887,812 | |
| Vermont | 6% | $457,254,367 | $196,235,812 | |
| Virginia | 4% | $473,254,367 | $203,119,812 | |
| Washington | 0% | $505,254,367 | $216,887,812 | |
| West Virginia | 6.5% | $453,254,367 | $194,514,812 | |
| Wisconsin | 7.65% | $444,054,367 | $190,556,512 | |
| Wyoming | 0% | $505,254,367 | $216,887,812 |
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