Mega Millions Annuity Cash Converter

Here’s how much money you’ll take home if you choose the cash lump sum option on your dream Mega Millions jackpot win.

Annuity Jackpot

Enter an amount to find the estimated cash lump sum and associated taxes.

Cash Lump Sum Jackpot

The estimated cash jackpot when the advertised jackpot is $20,000,000.

$9,732,620

Federal Tax

Select your tax filing status.

-$2,335,829

State Tax

The estimated amount of state tax you will pay on a cash jackpot win of $9,732,620.

-$467,166

Net Jackpot After Tax

This is the amount you will take home after taxes are withheld.

$6,929,626

Notes

  • The cash lump sum jackpot value shown here is an estimate calculated based on percentages used by the most recent Mega Millions draw.
  • The lottery always withholds 24% of jackpot payments for federal taxes. You’ll owe any additional taxes when you file your next return.
  • We assume single state residency only and do not consider non-state resident tax. In the situation when the winner resides in a different state than the one where the winnings were registered, additional state taxes may be added.
  • In some states, the lottery may also withhold a percentage of winnings for state taxes.