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New York(NY) MEGA Millions Prize Analysis for Fri Jan 19, 2024
Updated: Wednesday, January 17th, 2024 12:48 AM The estimated jackpot for MEGA Millions on Fri Jan 19, 2024 is $236 million. The cash option is $113.6 million. The MEGA Millions prize analysis tells you how much you would get after state, local and federal tax withholdings. As legally required by the state of New York, taxes are withheld on lottery winnings of 600USD or more. For prizes greater than 5,000USD, US citizens and resident aliens having a social security number have their prizes reduced with 25%, which represents the federal taxes. The New York state tax rate for lottery winning sits at 8.82%, with New York City withholding 3.876% and Yonkers withholding 1.323%. For more information on taxes for lottery winnings in the state of New York, click here.
- For the Cash Option in the amount of $113.6 million, the federal tax that must be withheld is $28,400,000.00, while the state tax is $10,019,520.00. After all the taxes are paid, the winner gets a net lump-sum payment of $75,180,480.00.
- For the $236 million annuity, the winner gets paid in 30 annual installments amounting to $7,866,666.67 yearly. The federal tax amounts to $1,966,666.67 yearly, while the state tax amounts to $693,840.00 yearly. The winner will receive, after paying all the taxes, $5,206,160.00 yearly.
- York City and Yonkers residents must also pay extra local taxes on their lottery winnings.
For detailed information on MEGA Millions Lottery Winning Taxes and Prizes Analysis, see the data listed below.
| New York(NY) MEGA Millions Prize Analysis for Fri Jan 19, 2024 |
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Fri Jan 19, 2024
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Jackpot: $236 Million
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Cash: $113.6 Million
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| Cash Option - $113.6 Million |
| Gross Cash Payment | 25% Federal Withholding | 8.82% State Withholding | Lump-Sum Net Payment | | $113,600,000.00 | -$28,400,000.00 | -$10,019,520.00 | $75,180,480.00 |
New York City Resident
3.876% Local Tax Withholding
-$4,403,136.00
Lump-Sum Net Payment
$70,777,344.00
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Yonkers Resident
1.323% Local Tax Withholding
-$1,502,928.00
Lump-Sum Net Payment
$73,677,552.00
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| Annuity - $236 Million in 30 Annual Payments |
| Gross Annual Payment | 25% Federal
Annual Withholding | 8.82% State
Annual Withholding | Net Annual Payment | | $7,866,666.67 | -$1,966,666.67 | -$693,840.00 | $5,206,160.00 | | Total Gross Payment | 25% Federal
Total Withholding | 8.82% State
Total Withholding | Total Net Payment | | $236,000,000.00 | -$59,000,000.00 | -$20,815,200.00 | $156,184,800.00 |
New York City Resident
3.876% Local Tax Annual Withholding
-$304,912.00
Net Annual Payment
$4,901,248.00
3.876% Local Tax Total Withholding
-$9,147,360.00
Total Net Payment
$147,037,440.00
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Yonkers Resident
1.323% Local Tax Annual Withholding
-$104,076.00
Net Annual Payment
$5,102,084.00
1.323% Local Tax Total Withholding
-$3,122,280.00
Total Net Payment
$153,062,520.00
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| Other Prizes With More Than $5,000.00 |
| 5 White Ball | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $250,000.00 | -$62,500.00 | -$22,050.00 | $165,450.00 | 5 White Ball
X2, X3 or X4 | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $1,000,000.00 | -$250,000.00 | -$88,200.00 | $661,800.00 | 4 White Ball
Mega Ball | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $10,000.00 | -$2,500.00 | -$882.00 | $6,618.00 | 4 White Ball
Mega Ball
X2 | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $20,000.00 | -$5,000.00 | -$1,764.00 | $13,236.00 | 4 White Ball
Mega Ball
X3 | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $30,000.00 | -$7,500.00 | -$2,646.00 | $19,854.00 | 4 White Ball
Mega Ball
X4 | 25% Federal Withholding | 8.82% State Withholding | Net Payment | | $40,000.00 | -$10,000.00 | -$3,528.00 | $26,472.00 |
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More Prize Analysis for New York(NY) MEGA Millions
| New York MEGA Millions |
SUN MON TUE WED THU FRI SAT |
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Next Draw: Fri Nov 22, 2024
$453,000,000
Change: +$33,000,000
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