💵 Mega Millions Payout Calculator
Compare the Mega Millions cash option against the annuity option and see roughly what you would keep after taxes.
Cash option vs. annuity
Mega Millions winners choose between a lump-sum cash payout (a discounted present value of the jackpot, historically often around half the advertised amount) or the full advertised jackpot spread across 30 graduated annual payments that increase by 5% each year.
How this calculator works
Enter the advertised jackpot and the cash value percentage announced for that specific drawing (it changes with interest rates, so check the official figure). The calculator applies that percentage to get the lump sum, then applies your federal and state tax rates to both the lump sum and the full annuity total. It also estimates the first annuity payment using the standard 5%-growth, 30-payment schedule.
This tool is for general educational estimates only, not tax or financial advice. Actual withholding, tax brackets, and the official cash value differ by drawing and by winner’s individual tax situation.