Mega Millions Tax Breakdown
Tuesday, July 7, 2026
Annuity (30 years)
$576,000,000
Cash Option
$253,900,000
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% | $349,734,367 | $153,651,312 | |
| Arkansas | 3.9% | $341,670,367 | $150,096,712 | |
| California | 0% | $364,134,367 | $159,998,812 | |
| Colorado | 4% | $341,094,367 | $149,842,812 | |
| Connecticut | 6.99% | $323,871,967 | $142,251,202 | |
| Delaware | 6.6% | $326,118,367 | $143,241,412 | |
| District of Columbia | 8.5% | $315,174,367 | $138,417,312 | |
| Florida | 0% | $364,134,367 | $159,998,812 | |
| Georgia | 5.75% | $331,014,367 | $145,399,562 | |
| Idaho | 6% | $329,574,367 | $144,764,812 | |
| Illinois | 4.95% | $335,622,367 | $147,430,762 | |
| Indiana | 3.15% | $345,990,367 | $152,000,962 | |
| Iowa | 5% | $335,334,367 | $147,303,812 | |
| Kansas | 5% | $335,334,367 | $147,303,812 | |
| Kentucky | 4.5% | $338,214,367 | $148,573,312 | |
| Louisiana | 4.25% | $339,654,367 | $149,208,062 | |
| Maine | 7.15% | $322,950,367 | $141,844,962 | |
| Maryland | 8.75% | $313,734,367 | $137,782,562 | |
| Massachusetts | 5% | $335,334,367 | $147,303,812 | |
| Michigan | 4.25% | $339,654,367 | $149,208,062 | |
| Minnesota | 7.25% | $322,374,367 | $141,591,062 | |
| Missouri | 4% | $341,094,367 | $149,842,812 | |
| Montana | 6.75% | $325,254,367 | $142,860,562 | |
| Nebraska | 5% | $335,334,367 | $147,303,812 | |
| New Hampshire | 0% | $364,134,367 | $159,998,812 | |
| New Jersey | 8% | $318,054,367 | $139,686,812 | |
| New Mexico | 6% | $329,574,367 | $144,764,812 | |
| New York | 8.82% | $313,331,167 | $137,604,832 | |
| North Carolina | 4.75% | $336,774,367 | $147,938,562 | |
| North Dakota | 2.9% | $347,430,367 | $152,635,712 | |
| Ohio | 3.99% | $341,151,967 | $149,868,202 | |
| Oklahoma | 4.75% | $336,774,367 | $147,938,562 | |
| Oregon | 8% | $318,054,367 | $139,686,812 | |
| Pennsylvania | 3.07% | $346,451,167 | $152,204,082 | |
| Puerto Rico | 0% | $364,134,367 | $159,998,812 | |
| Rhode Island | 5.99% | $329,631,967 | $144,790,202 | |
| South Carolina | 7% | $323,814,367 | $142,225,812 | |
| South Dakota | 0% | $364,134,367 | $159,998,812 | |
| Tennessee | 0% | $364,134,367 | $159,998,812 | |
| Texas | 0% | $364,134,367 | $159,998,812 | |
| US Virgin Islands | 0% | $364,134,367 | $159,998,812 | |
| Vermont | 6% | $329,574,367 | $144,764,812 | |
| Virginia | 4% | $341,094,367 | $149,842,812 | |
| Washington | 0% | $364,134,367 | $159,998,812 | |
| West Virginia | 6.5% | $326,694,367 | $143,495,312 | |
| Wisconsin | 7.65% | $320,070,367 | $140,575,462 | |
| Wyoming | 0% | $364,134,367 | $159,998,812 |
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