Mega Millions Payout Calculator

Jackpot winners choose between a one-time lump-sum cash payment and an annuity of one immediate payment followed by 29 annual payments, each 5% larger than the previous one. The nominal total of all 30 payments equals the advertised jackpot; the cash option is the present value of that stream and is always smaller.

Each payment is taxed as ordinary income in the year it is received — federal brackets apply to that year's payment, plus state tax. Because payments grow 5% per year, later payments are larger and can push into higher brackets. Withholding applies to each payment as it is made.

The jackpot figure is the nominal sum of all 30 annuity payments. The cash option is what that 30-year payment stream is worth today — its present value — which moves with interest rates. Enter the current advertised cash value from the official Mega Millions site to calculate an estimate.

No. It presents gross amounts, estimated taxes, timing, and payment structure for both options without ranking them. The right choice depends on investment returns, spending discipline, estate planning, and personal circumstances that no calculator can decide.