Mississippi Lottery

MSLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 23, 2026 is estimated to be $266 Million, with a cash option of 120.8 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 Mississippi, your state will take 5% 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.

Mississippi MEGA Millions Jackpot/Cash Option for Fri Jan 23, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 23, 2026	$266,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(5%)	$6,040,000
Net Lumpsum Payment	$70,103,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$200,178	$2,361,738
2	$4,203,864	-$1,515,760 -$210,193	$2,477,911
3	$4,414,004	-$1,593,512 -$220,700	$2,599,792
4	$4,634,784	-$1,675,200 -$231,739	$2,727,845
5	$4,866,470	-$1,760,924 -$243,324	$2,862,222
6	$5,109,860	-$1,850,979 -$255,493	$3,003,388
7	$5,365,220	-$1,945,462 -$268,261	$3,151,497
8	$5,633,614	-$2,044,768 -$281,681	$3,307,165
9	$5,915,308	-$2,148,994 -$295,765	$3,470,549
10	$6,211,100	-$2,258,437 -$310,555	$3,642,108
11	$6,521,522	-$2,373,294 -$326,076	$3,822,152
12	$6,847,638	-$2,493,956 -$342,382	$4,011,300
13	$7,189,980	-$2,620,623 -$359,499	$4,209,858
14	$7,549,612	-$2,753,687 -$377,481	$4,418,444
15	$7,927,066	-$2,893,345 -$396,353	$4,637,368
16	$8,323,406	-$3,039,991 -$416,170	$4,867,245
17	$8,739,430	-$3,193,919 -$436,972	$5,108,539
18	$9,176,468	-$3,355,624 -$458,823	$5,362,021
19	$9,635,318	-$3,525,398 -$481,766	$5,628,154
20	$10,117,044	-$3,703,637 -$505,852	$5,907,555
21	$10,622,976	-$3,890,832 -$531,149	$6,200,995
22	$11,154,178	-$4,087,376 -$557,709	$6,509,093
23	$11,711,714	-$4,293,665 -$585,586	$6,832,463
24	$12,297,446	-$4,510,385 -$614,872	$7,172,189
25	$12,912,172	-$4,737,834 -$645,609	$7,528,729
26	$13,558,020	-$4,976,798 -$677,901	$7,903,321
27	$14,235,788	-$5,227,572 -$711,789	$8,296,427
28	$14,947,604	-$5,490,944 -$747,380	$8,709,280
29	$15,695,064	-$5,767,504 -$784,753	$9,142,807
30	$16,479,764	-$6,057,843 -$823,988	$9,597,933