Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Feb 27, 2026 is estimated to be $458 Million, with a cash option of 212.4 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Michigan, your state will take 4.25% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Michigan MEGA Millions Jackpot/Cash Option for Fri Feb 27, 2026

Draw Date	Jackpot	Cash Option
Fri Feb 27, 2026	$458,000,000	$212,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$212,400,000
Federal Tax(24%)	$50,976,000
Additional Federal Tax	$27,572,330
State Tax(4.25%)	$9,027,000
Net Lumpsum Payment	$124,824,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,893,358	-$2,510,873 -$292,968	$4,089,517
2	$7,238,232	-$2,638,476 -$307,625	$4,292,131
3	$7,600,052	-$2,772,350 -$323,002	$4,504,700
4	$7,980,192	-$2,913,001 -$339,158	$4,728,033
5	$8,379,110	-$3,060,601 -$356,112	$4,962,397
6	$8,798,180	-$3,215,657 -$373,923	$5,208,600
7	$9,237,860	-$3,378,339 -$392,609	$5,466,912
8	$9,699,982	-$3,549,324 -$412,249	$5,738,409
9	$10,185,004	-$3,728,782 -$432,863	$6,023,359
10	$10,694,300	-$3,917,221 -$454,508	$6,322,571
11	$11,228,786	-$4,114,981 -$477,223	$6,636,582
12	$11,790,294	-$4,322,739 -$501,087	$6,966,468
13	$12,379,740	-$4,540,834 -$526,139	$7,312,767
14	$12,998,956	-$4,769,944 -$552,456	$7,676,556
15	$13,648,858	-$5,010,408 -$580,076	$8,058,374
16	$14,331,278	-$5,262,903 -$609,079	$8,459,296
17	$15,047,590	-$5,527,939 -$639,523	$8,880,128
18	$15,800,084	-$5,806,361 -$671,504	$9,322,219
19	$16,590,134	-$6,098,680 -$705,081	$9,786,373
20	$17,419,572	-$6,405,572 -$740,332	$10,273,668
21	$18,290,688	-$6,727,885 -$777,354	$10,785,449
22	$19,205,314	-$7,066,297 -$816,226	$11,322,791
23	$20,165,282	-$7,421,485 -$857,024	$11,886,773
24	$21,173,798	-$7,794,636 -$899,886	$12,479,276
25	$22,232,236	-$8,186,258 -$944,870	$13,101,108
26	$23,344,260	-$8,597,707 -$992,131	$13,754,422
27	$24,511,244	-$9,029,491 -$1,041,728	$14,440,025
28	$25,736,852	-$9,482,966 -$1,093,816	$15,160,070
29	$27,023,832	-$9,959,148 -$1,148,513	$15,916,171
30	$28,374,932	-$10,459,055 -$1,205,935	$16,709,942