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Mega Millions Calculator

Calculate estimated Mega Millions winnings, taxes, cash value, and potential take-home amount.

Mega Millions · Rules verified 2026-09-28

Mega Millions pairs huge jackpots with a built-in multiplier on every ticket. Enter a jackpot below to estimate what you'd actually keep after federal and state taxes.

Ticket price
$5.00 per play
Jackpot odds
1 in 290,472,336
Drawings
Tuesday, Friday · 11:00 p.m. ET
Odds of any prize
1 in 23
How will you take the prize?

The advertised annuity jackpot.

Enter the current cash value to calculate an estimate.

Used to estimate state tax on the winnings.

How Mega Millions Works

A Mega Millions play costs $5.00 — multiplier included. You pick 5 white balls numbered 1 to 70, plus one gold Mega Ball numbered 1 to 24. Match all six to win the jackpot.

Drawings are held every Tuesday, Friday at 11:00 p.m. ET. Jackpots start at $50 million and roll over until someone matches all six numbers. Nine prize tiers pay from the jackpot down to $10, and the overall odds of winning any prize are 1 in 23 per play.

The built-in multiplier is what sets the current game apart: each ticket is randomly assigned a 2X, 3X, 4X, 5X, or 10X multiplier at purchase, and it applies to every non-jackpot prize. Match all five white balls and the prize ranges from $2 million to $10 million depending on your multiplier.

Mega Millions Jackpot vs Cash Option

The advertised jackpot is the annuity value: The Mega Millions annuity is paid as one immediate payment followed by 29 annual payments, each 5% bigger than the previous one. That structure is designed so each payment is 5% larger than the previous one, partly offsetting inflation over the payout period.

The cash option is the lump sum actually available in the jackpot prize pool — one payment, always smaller than the advertised jackpot. The gap between the two moves with interest rates, so there is no reliable rule of thumb: use the official cash value from the prize announcement.

For taxes, the choice is timing. The cash option lands entirely in one tax year — on a big jackpot, almost all of it falls in the top federal bracket. The annuity's yearly payments are each taxed in the year received, which can keep more of the winnings in lower brackets over time.

Mega Millions Taxes

A Mega Millions win is taxed like any lottery win: the IRS treats it as ordinary income, and so do the states that tax it. The game you won doesn't change the brackets — only the amount, your filing status, and your state do.

This calculator applies the same verified 2026 federal brackets and state planning rates as the rest of the site. That means $0 estimated state tax in the nine no-income-tax states and in California (which exempts lottery winnings from state tax), and the state's planning rate everywhere else. One California quirk worth knowing: non-jackpot Mega Millions prizes there are paid on a pari-mutuel basis, so they can differ from the fixed amounts in the prize table below.

Expect withholding when you claim: 24% federal on prizes over $5,000, plus state withholding where applicable. It is credited against your final tax — the results below show withholding and estimated final liability separately.

Mega Millions Prize Tiers

9 ways to win, from the jackpot down to the lowest tier. Odds are per play. Non-jackpot prizes shown by Multiplier multiplier (Included in the $5.00 ticket price — no extra cost.).

Mega Millions prize tiers, prizes, and odds
Match 2X3X4X5X10X Odds
5 + Mega Ball ————— 1 in 290,472,336
5 $2,000,000$3,000,000$4,000,000$5,000,000$10,000,000 1 in 12,629,232
4 + Mega Ball $20,000$30,000$40,000$50,000$100,000 1 in 893,761
4 $1,000$1,500$2,000$2,500$5,000 1 in 38,859
3 + Mega Ball $400$600$800$1,000$2,000 1 in 13,965
3 $20$30$40$50$100 1 in 607
2 + Mega Ball $20$30$40$50$100 1 in 665
1 + Mega Ball $14$21$28$35$70 1 in 86
Mega Ball only $10$15$20$25$50 1 in 35

Mega Millions Odds

Odds of winning the jackpot

1 in 290,472,336

Match 5 white balls (1– 70) plus the Mega Ball ( 1–24).

Odds of winning any prize

1 in 23

Across all 9 prize tiers, per play. Every combination has the same probability of being drawn.

How We Calculate

This page shares its calculation engine with every calculator on the site — there is no separate Mega Millions tax formula. The Mega Millions configuration supplies the verified game facts you see above (pools, price, tiers, odds); the shared engine turns your jackpot, cash value, state, tax year, and filing status into estimated federal tax, state tax, total tax, and take-home. Same math, same honesty constraints, game-specific context.

How We Calculate

  1. Start with the selected lottery amount. Enter the advertised jackpot and the cash option (or choose the annuity to estimate one annual payment).

  2. Determine the cash or taxable amount. For a lump sum, the cash option is the taxable amount. For an annuity, each annual payment is taxed in the year it is received.

  3. Apply applicable federal tax rules. Lottery winnings are taxed as ordinary income. The calculator subtracts the standard deduction for your filing status, then applies that year's progressive federal tax brackets.

  4. Apply applicable state rules. The calculator applies the state's configured planning rate. States that do not tax lottery winnings show $0 state tax. Local and city taxes are not included.

  5. Calculate estimated total tax. Estimated federal and state taxes are added together for the total estimated tax liability.

  6. Calculate estimated take-home amount. Estimated total tax is subtracted from the taxable amount. This is an estimate of final liability — withholding shown separately is what may be held back when you are paid, and it is credited against this liability.

Results are estimates for informational purposes only — not tax, legal, or financial advice. Your actual tax bill depends on your full tax return, the lottery's rules, and the laws in effect when you claim the prize.

Frequently Asked Questions

How does the Mega Millions calculator work?

Type in the advertised jackpot and the cash option from the official announcement, choose your state, tax year, and filing status, and the calculator estimates your federal tax with that year's brackets and standard deduction, your state tax with the state's planning rate, and your take-home for either a lump sum or the annuity.

Why does a Mega Millions ticket cost $5?

Since the April 2025 game update, a Mega Millions play costs $5 and the multiplier is built in at no extra charge — every ticket is automatically assigned a 2X to 10X multiplier that boosts non-jackpot prizes. The starting jackpot also rose to $50 million under the new game.

What is the Mega Millions cash option?

The advertised jackpot assumes the annuity: one immediate payment followed by 29 annual payments, each 5% larger than the last. The cash option is the single lump-sum payment equal to all the cash in the jackpot prize pool — always less than the advertised figure. Enter the official cash value above for an accurate estimate.

Are Mega Millions winnings taxed differently than other lottery wins?

No. Mega Millions prizes are ordinary income just like any lottery winnings. Federal brackets apply the same way, and state treatment follows the same rules — most states tax winnings as ordinary income, nine states have no income tax to apply, and California exempts lottery winnings from state tax.

Does my state tax Mega Millions winnings?

In most states, yes. Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming levy no broad individual income tax, and California exempts lottery winnings from state tax — in those states the state-tax line of the estimate is $0. Everywhere else, the state's planning rate applies. Federal tax applies no matter where you live.

Is the 24% withholding the final tax on a Mega Millions jackpot?

No — it's a down payment. Federal rules require 24% withholding on winnings over $5,000, and your state may withhold as well. That money is credited against your final tax liability, which on a jackpot is usually higher. The calculator keeps withholding and estimated final tax in separate sections so the difference is clear.

Should a winner take the annuity or the cash?

The annuity pays the full advertised jackpot across 30 payments, with each year's payment taxed in that year — spreading the tax burden. The cash option pays less overall but everything arrives now and is taxed in a single year, typically at the top bracket. Run both in the calculator above and compare the estimated take-home figures.

Sources & References