---
title: "$175 Million Mega Millions After Taxes: $45.7 Million Cash in Texas, $37.8 Million in New York (2026)"
description: "A $175 Million Mega Millions jackpot is worth about $72.4 million in cash before taxes and $45.7 million after taxes in states with no income tax, down to…"
url: https://lotteryaftertaxes.com/mega-millions/175-million-after-taxes/
updated: 2026-09-26
site: "Lottery After Taxes"
language: en-US
---

# $175 Million Mega Millions after taxes

$175 Million Mega Millions jackpot, cash option about $72.4 million. Single filer.

You keep about $45.7 million in cash where there is no state income tax

Forty-five million six hundred sixty thousand four hundred twenty-five and 00/100 dollars

From **$35 million** in New York City to **$45.7 million** in Alaska, California, Florida, Nevada and 6 more.

Hypothetical jackpot. Cash value estimated from the current official Mega Millions cash-to-jackpot ratio (41.4%, as of Sep 26, 2026). Tax rules for 2026.

**Cash option, from advertised jackpot to what you keep**

| Item | Amount |
| --- | --- |
| Advertised jackpot: Sum of 30 annuity payments | $175,000,000 |
| Cash option: Estimated at 41.4% of the jackpot, the current official ratio | $72,397,500 |
| Federal tax withheld at claim: 24% of the prize | −$17,375,400 |
| Federal tax still owed at filing: Top bracket is 37% | −$9,361,675 |
| Texas state tax: No state income tax | $0 |
| You keep: 26.1% of the advertised jackpot | $45,660,425 |

## All 50 states and DC

**Single filer, ticket bought in the state you live in. Sort by clicking a column name.**

| [State](https://lotteryaftertaxes.com/mega-millions/175-million-after-taxes/?sort=state&dir=desc#states) | [Cash kept](https://lotteryaftertaxes.com/mega-millions/175-million-after-taxes/?sort=kept&dir=desc#states) | [Annuity kept](https://lotteryaftertaxes.com/mega-millions/175-million-after-taxes/?sort=annuity&dir=desc#states) | [State tax](https://lotteryaftertaxes.com/mega-millions/175-million-after-taxes/?sort=rate&dir=desc#states) |
| --- | --- | --- | --- |
| Alabama^\* | $42 million | $103 million | 5% |
| Alaska^\* | $45.7 million | $111.7 million | none |
| Arizona | $43.9 million | $107.4 million | 2.5% |
| Arkansas | $43 million | $105.3 million | 3.7% |
| California | $45.7 million | $111.7 million | exempt |
| Colorado | $42.5 million | $104 million | 4.4% |
| Connecticut | $40.6 million | $99.5 million | 6.99% |
| Delaware | $40.9 million | $100.2 million | 6.6% |
| District of Columbia | $37.9 million | $92.9 million | 10.75% |
| Florida | $45.7 million | $111.7 million | none |
| Georgia | $42 million | $103 million | 4.99% |
| Hawaii^\* | $37.7 million | $92.5 million | 11% |
| Idaho | $41.8 million | $102.5 million | 5.3% |
| Illinois | $42.1 million | $103.1 million | 4.95% |
| Indiana | $43.5 million | $106.6 million | 2.95% |
| Iowa | $42.9 million | $105.1 million | 3.8% |
| Kansas | $41.6 million | $102 million | 5.58% |
| Kentucky | $43.1 million | $105.6 million | 3.5% |
| Louisiana | $43.5 million | $106.5 million | 3% |
| Maine | $39 million | $95.7 million | 9.15% |
| Maryland | $41 million | $100.4 million | 6.5% |
| Massachusetts | $39.1 million | $96 million | 9% |
| Michigan | $42.6 million | $104.3 million | 4.25% |
| Minnesota | $38.5 million | $94.5 million | 9.85% |
| Mississippi | $42.8 million | $104.7 million | 4% |
| Missouri | $42.3 million | $103.5 million | 4.7% |
| Montana | $41.6 million | $101.9 million | 5.65% |
| Nebraska | $42.4 million | $103.8 million | 4.55% |
| Nevada^\* | $45.7 million | $111.7 million | none |
| New Hampshire | $45.7 million | $111.7 million | none |
| New Jersey | $37.9 million | $92.9 million | 10.75% |
| New Mexico | $41.4 million | $101.4 million | 5.9% |
| New York | $37.8 million | $92.7 million | 10.9% |
| New York City | $35 million | $85.9 million | 14.776% |
| Yonkers | $36.4 million | $89.5 million | 12.726% |
| North Carolina | $42.8 million | $104.8 million | 3.99% |
| North Dakota | $43.9 million | $107.4 million | 2.5% |
| Ohio | $43.7 million | $106.9 million | 2.75% |
| Oklahoma | $42.4 million | $103.9 million | 4.5% |
| Oregon | $38.5 million | $94.4 million | 9.9% |
| Pennsylvania | $43.4 million | $106.4 million | 3.07% |
| Rhode Island | $41.3 million | $101.3 million | 5.99% |
| South Carolina | $41.9 million | $102.6 million | 5.21% |
| South Dakota | $45.7 million | $111.7 million | none |
| Tennessee | $45.7 million | $111.7 million | none |
| Texas | $45.7 million | $111.7 million | none |
| Utah^\* | $42.4 million | $104 million | 4.45% |
| Vermont | $39.3 million | $96.4 million | 8.75% |
| Virginia | $41.5 million | $101.7 million | 5.75% |
| Washington | $45.7 million | $111.7 million | none |
| West Virginia | $42.3 million | $103.7 million | 4.58% |
| Wisconsin | $40.1 million | $98.4 million | 7.65% |
| Wyoming | $45.7 million | $111.7 million | none |

^\* No state lottery; residents who win with a ticket bought elsewhere still owe their home state's income tax, and the state where the ticket was bought may tax it first. Local rows (New York City, Yonkers) include state and city tax.

## Lump sum or annuity

**Lump sum and annuity after tax in a state with no income tax**

| Item | Cash option | Annuity (30 payments) |
| --- | --- | --- |
| Before tax | $72,397,500 | $175,000,000 |
| Total tax | −$26,737,075 | −$63,250,007 |
| You keep | $45,660,425 | $111,749,993 |
| In today's dollars, annuity discounted at 3% a year | $45,660,425 | $67,718,174 |
| When you get it | All at once | $1.7 million now, then yearly up to $6.9 million |

The annuity keeps **$66.1 million more** after tax in total but pays it over 29 years; the cash would need to earn **5.76% a year after tax** to fund the same payments. [How to think about the choice](https://lotteryaftertaxes.com/lump-sum-vs-annuity/).

### 30 annuity payments from $1.7 million to $6.9 million after tax

**30 annual payments, taxed in the year received (2026 brackets assumed every year)**

| Payment | Year | Before tax | Federal | State | After tax |
| --- | --- | --- | --- | --- | --- |
| 1 | 2026 | $2,634,001 | −$924,581 | $0 | $1,709,420 |
| 2 | 2027 | $2,765,701 | −$973,310 | $0 | $1,792,392 |
| 3 | 2028 | $2,903,986 | −$1,024,475 | $0 | $1,879,511 |
| 4 | 2029 | $3,049,186 | −$1,078,199 | $0 | $1,970,987 |
| 5 | 2030 | $3,201,645 | −$1,134,609 | $0 | $2,067,036 |
| 6 | 2031 | $3,361,727 | −$1,193,839 | $0 | $2,167,888 |
| 7 | 2032 | $3,529,813 | −$1,256,031 | $0 | $2,273,782 |
| 8 | 2033 | $3,706,304 | −$1,321,333 | $0 | $2,384,971 |
| 9 | 2034 | $3,891,619 | −$1,389,899 | $0 | $2,501,720 |
| 10 | 2035 | $4,086,200 | −$1,461,894 | $0 | $2,624,306 |
| 11 | 2036 | $4,290,510 | −$1,537,489 | $0 | $2,753,021 |
| 12 | 2037 | $4,505,036 | −$1,616,864 | $0 | $2,888,172 |
| 13 | 2038 | $4,730,288 | −$1,700,207 | $0 | $3,030,081 |
| 14 | 2039 | $4,966,802 | −$1,787,717 | $0 | $3,179,085 |
| 15 | 2040 | $5,215,142 | −$1,879,603 | $0 | $3,335,539 |
| 16 | 2041 | $5,475,899 | −$1,976,083 | $0 | $3,499,816 |
| 17 | 2042 | $5,749,694 | −$2,077,387 | $0 | $3,672,307 |
| 18 | 2043 | $6,037,179 | −$2,183,756 | $0 | $3,853,422 |
| 19 | 2044 | $6,339,038 | −$2,295,444 | $0 | $4,043,594 |
| 20 | 2045 | $6,655,990 | −$2,412,716 | $0 | $4,243,273 |
| 21 | 2046 | $6,988,789 | −$2,535,852 | $0 | $4,452,937 |
| 22 | 2047 | $7,338,229 | −$2,665,145 | $0 | $4,673,084 |
| 23 | 2048 | $7,705,140 | −$2,800,902 | $0 | $4,904,238 |
| 24 | 2049 | $8,090,397 | −$2,943,447 | $0 | $5,146,950 |
| 25 | 2050 | $8,494,917 | −$3,093,120 | $0 | $5,401,797 |
| 26 | 2051 | $8,919,663 | −$3,250,275 | $0 | $5,669,387 |
| 27 | 2052 | $9,365,646 | −$3,415,289 | $0 | $5,950,357 |
| 28 | 2053 | $9,833,928 | −$3,588,554 | $0 | $6,245,375 |
| 29 | 2054 | $10,325,625 | −$3,770,481 | $0 | $6,555,143 |
| 30 | 2055 | $10,841,906 | −$3,961,505 | $0 | $6,880,400 |
| Total |  | $175,000,000 | −$63,250,007 | $0 | $111,749,993 |

## Questions

### How much is a $175 million Mega Millions after taxes?

About $45.7 million in cash in a state with no income tax, down to $35 million in New York City. The cash option is about $72.4 million (estimated with the current cash-to-jackpot ratio of 41.4%) before taxes.

### What is the cash value of a $175 million Mega Millions jackpot?

About $72.4 million. The advertised $175 million is the sum of 30 annuity payments; the cash option is the money actually in the jackpot pool, which is why it is smaller.

### How much is the $175 million Mega Millions annuity per year after taxes?

The first payment is about $2.6 million before taxes and $1.7 million after federal tax, rising 5% a year to $6.9 million after tax in year 30 (before any state tax).

### How much federal tax do you pay on a $175 million Mega Millions jackpot?

About $26.7 million on the cash option: $17.4 million withheld at claim (24%) and about $9.4 million more when you file, because the top bracket is 37%.

### Which state is best to win a $175 million Mega Millions jackpot in?

You keep the most, $45.7 million in cash, in Alaska, California, Florida, Nevada, New Hampshire, South Dakota and 4 more. You keep the least in New York City.

## Related

### Nearby amounts

- [$125 million Mega Millions after taxes](https://lotteryaftertaxes.com/mega-millions/125-million-after-taxes/)
- [$150 million Mega Millions after taxes](https://lotteryaftertaxes.com/mega-millions/150-million-after-taxes/)
- [$200 million Mega Millions after taxes](https://lotteryaftertaxes.com/mega-millions/200-million-after-taxes/)
- [$225 million Mega Millions after taxes](https://lotteryaftertaxes.com/mega-millions/225-million-after-taxes/)
- [$175 Million Powerball after taxes](https://lotteryaftertaxes.com/powerball/175-million-after-taxes/)

### Current jackpot by state

- [Mega Millions after taxes in Texas](https://lotteryaftertaxes.com/mega-millions/after-taxes/texas/)
- [Mega Millions after taxes in California](https://lotteryaftertaxes.com/mega-millions/after-taxes/california/)
- [Mega Millions after taxes in New York](https://lotteryaftertaxes.com/mega-millions/after-taxes/new-york/)
- [Mega Millions after taxes in Florida](https://lotteryaftertaxes.com/mega-millions/after-taxes/florida/)
- [Mega Millions after taxes in Illinois](https://lotteryaftertaxes.com/mega-millions/after-taxes/illinois/)
- [Mega Millions after taxes in Pennsylvania](https://lotteryaftertaxes.com/mega-millions/after-taxes/pennsylvania/)

These figures describe the taxes on a prize that has already been won; they are not a reason to buy a ticket. Jackpot odds are hundreds of millions to one. If gambling is causing problems for you or someone close to you, call or text 1-800-GAMBLER (National Problem Gambling Helpline, 24/7).

## Sources for this page

- [IRS: 2026 inflation adjustments (Rev. Proc. 2025-32)](https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill) (checked Sep 26, 2026)
- [IRS Publication 505: withholding on gambling winnings](https://www.irs.gov/publications/p505) (checked Sep 26, 2026)
- [New Mega Millions arrives in April (megamillions.com)](https://www.megamillions.com/News/2025/New-Mega-Millions%C2%AE-arrives-in-April.aspx) (checked Sep 26, 2026)
- [Mega Millions To Get MEGA Enhancements in April 2025 (megamillions.com)](https://www.megamillions.com/News/2024/Mega-Millions-To-Get-MEGA-Enhancements-in-April-20.aspx) (checked Sep 26, 2026)
- [Mega Millions Game Change FAQ (Illinois Lottery)](https://www.illinoislottery.com/help-center/faqs/mega-millions-game-change) (checked Sep 26, 2026)
- [Mega Millions official site (current jackpot and cash value)](https://www.megamillions.com/) (checked Sep 26, 2026)
- [Report of the official jackpot estimate used here](https://mynewsla.com/life/2026/09/26/no-tickets-sold-with-all-six-mega-millions-numbers-jackpot-at-300-million-2/) (checked Sep 26, 2026)
- [State rules: see the sources page for all 51 jurisdictions](https://lotteryaftertaxes.com/sources/)

Figures are estimates for planning, not tax or legal advice. How they are calculated: [methodology](https://lotteryaftertaxes.com/methodology/). Read the [disclaimer](https://lotteryaftertaxes.com/disclaimer/).