Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Feb 6, 2026 is estimated to be $346 Million, with a cash option of 156.1 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 6, 2026

Draw Date	Jackpot	Cash Option
Fri Feb 6, 2026	$346,000,000	$156,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$156,100,000
Federal Tax(24%)	$37,464,000
Additional Federal Tax	$20,253,330
State Tax(4.25%)	$6,634,250
Net Lumpsum Payment	$91,748,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,207,646	-$1,887,159 -$221,325	$3,099,162
2	$5,468,184	-$1,983,558 -$232,398	$3,252,228
3	$5,741,524	-$2,084,694 -$244,015	$3,412,815
4	$6,028,704	-$2,190,951 -$256,220	$3,581,533
5	$6,330,070	-$2,302,456 -$269,028	$3,758,586
6	$6,646,660	-$2,419,595 -$282,483	$3,944,582
7	$6,978,820	-$2,542,494 -$296,600	$4,139,726
8	$7,327,934	-$2,671,666 -$311,437	$4,344,831
9	$7,694,348	-$2,807,239 -$327,010	$4,560,099
10	$8,079,100	-$2,949,597 -$343,362	$4,786,141
11	$8,482,882	-$3,098,997 -$360,522	$5,023,363
12	$8,907,078	-$3,255,949 -$378,551	$5,272,578
13	$9,352,380	-$3,420,711 -$397,476	$5,534,193
14	$9,820,172	-$3,593,794 -$417,357	$5,809,021
15	$10,311,146	-$3,775,454 -$438,224	$6,097,468
16	$10,826,686	-$3,966,204 -$460,134	$6,400,348
17	$11,367,830	-$4,166,427 -$483,133	$6,718,270
18	$11,936,308	-$4,376,764 -$507,293	$7,052,251
19	$12,533,158	-$4,597,599 -$532,659	$7,402,900
20	$13,159,764	-$4,829,443 -$559,290	$7,771,031
21	$13,817,856	-$5,072,937 -$587,259	$8,157,660
22	$14,508,818	-$5,328,593 -$616,625	$8,563,600
23	$15,234,034	-$5,596,923 -$647,446	$8,989,665
24	$15,995,926	-$5,878,823 -$679,827	$9,437,276
25	$16,795,532	-$6,174,677 -$713,810	$9,907,045
26	$17,635,620	-$6,485,510 -$749,514	$10,400,596
27	$18,517,228	-$6,811,705 -$786,982	$10,918,541
28	$19,443,124	-$7,154,286 -$826,333	$11,462,505
29	$20,415,384	-$7,514,022 -$867,654	$12,033,708
30	$21,436,084	-$7,891,681 -$911,034	$12,633,369