Mega Millions Tax Breakdown
Tuesday, October 6, 2026
Annuity (30 years)
$345,000,000
Cash Option
$139,600,000
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% | $209,979,367 | $84,499,812 | |
| Arkansas | 3.9% | $205,149,367 | $82,545,412 | |
| California | 0% | $218,604,367 | $87,989,812 | |
| Colorado | 4% | $204,804,367 | $82,405,812 | |
| Connecticut | 6.99% | $194,488,867 | $78,231,772 | |
| Delaware | 6.6% | $195,834,367 | $78,776,212 | |
| District of Columbia | 8.5% | $189,279,367 | $76,123,812 | |
| Florida | 0% | $218,604,367 | $87,989,812 | |
| Georgia | 5.75% | $198,766,867 | $79,962,812 | |
| Idaho | 6% | $197,904,367 | $79,613,812 | |
| Illinois | 4.95% | $201,526,867 | $81,079,612 | |
| Indiana | 3.15% | $207,736,867 | $83,592,412 | |
| Iowa | 5% | $201,354,367 | $81,009,812 | |
| Kansas | 5% | $201,354,367 | $81,009,812 | |
| Kentucky | 4.5% | $203,079,367 | $81,707,812 | |
| Louisiana | 4.25% | $203,941,867 | $82,056,812 | |
| Maine | 7.15% | $193,936,867 | $78,008,412 | |
| Maryland | 8.75% | $188,416,867 | $75,774,812 | |
| Massachusetts | 5% | $201,354,367 | $81,009,812 | |
| Michigan | 4.25% | $203,941,867 | $82,056,812 | |
| Minnesota | 7.25% | $193,591,867 | $77,868,812 | |
| Missouri | 4% | $204,804,367 | $82,405,812 | |
| Montana | 6.75% | $195,316,867 | $78,566,812 | |
| Nebraska | 5% | $201,354,367 | $81,009,812 | |
| New Hampshire | 0% | $218,604,367 | $87,989,812 | |
| New Jersey | 8% | $191,004,367 | $76,821,812 | |
| New Mexico | 6% | $197,904,367 | $79,613,812 | |
| New York | 8.82% | $188,175,367 | $75,677,092 | |
| North Carolina | 4.75% | $202,216,867 | $81,358,812 | |
| North Dakota | 2.9% | $208,599,367 | $83,941,412 | |
| Ohio | 3.99% | $204,838,867 | $82,419,772 | |
| Oklahoma | 4.75% | $202,216,867 | $81,358,812 | |
| Oregon | 8% | $191,004,367 | $76,821,812 | |
| Pennsylvania | 3.07% | $208,012,867 | $83,704,092 | |
| Puerto Rico | 0% | $218,604,367 | $87,989,812 | |
| Rhode Island | 5.99% | $197,938,867 | $79,627,772 | |
| South Carolina | 7% | $194,454,367 | $78,217,812 | |
| South Dakota | 0% | $218,604,367 | $87,989,812 | |
| Tennessee | 0% | $218,604,367 | $87,989,812 | |
| Texas | 0% | $218,604,367 | $87,989,812 | |
| US Virgin Islands | 0% | $218,604,367 | $87,989,812 | |
| Vermont | 6% | $197,904,367 | $79,613,812 | |
| Virginia | 4% | $204,804,367 | $82,405,812 | |
| Washington | 0% | $218,604,367 | $87,989,812 | |
| West Virginia | 6.5% | $196,179,367 | $78,915,812 | |
| Wisconsin | 7.65% | $192,211,867 | $77,310,412 | |
| Wyoming | 0% | $218,604,367 | $87,989,812 |
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