Oklahoma Lottery

OKLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 24, 2026 is estimated to be $438 Million, with a cash option of 203.1 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 Oklahoma, your state will take 4.75% 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.

Oklahoma MEGA Millions Jackpot/Cash Option for Tue Feb 24, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 24, 2026	$438,000,000	$203,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$203,100,000
Federal Tax(24%)	$48,744,000
Additional Federal Tax	$26,363,330
State Tax(4.75%)	$9,647,250
Net Lumpsum Payment	$118,345,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,592,338	-$2,399,495 -$313,136	$3,879,707
2	$6,922,152	-$2,521,527 -$328,802	$4,071,823
3	$7,268,172	-$2,649,554 -$345,238	$4,273,380
4	$7,631,712	-$2,784,064 -$362,506	$4,485,142
5	$8,013,210	-$2,925,218 -$380,627	$4,707,365
6	$8,413,980	-$3,073,503 -$399,664	$4,940,813
7	$8,834,460	-$3,229,081 -$419,637	$5,185,742
8	$9,276,402	-$3,392,599 -$440,629	$5,443,174
9	$9,740,244	-$3,564,221 -$462,662	$5,713,361
10	$10,227,300	-$3,744,431 -$485,797	$5,997,072
11	$10,738,446	-$3,933,555 -$510,076	$6,294,815
12	$11,275,434	-$4,132,241 -$535,583	$6,607,610
13	$11,839,140	-$4,340,812 -$562,359	$6,935,969
14	$12,431,316	-$4,559,917 -$590,488	$7,280,911
15	$13,052,838	-$4,789,880 -$620,010	$7,642,948
16	$13,705,458	-$5,031,350 -$651,009	$8,023,099
17	$14,390,490	-$5,284,812 -$683,548	$8,422,130
18	$15,110,124	-$5,551,076 -$717,731	$8,841,317
19	$15,865,674	-$5,830,630 -$753,620	$9,281,424
20	$16,658,892	-$6,124,120 -$791,297	$9,743,475
21	$17,491,968	-$6,432,359 -$830,868	$10,228,741
22	$18,366,654	-$6,755,992 -$872,416	$10,738,246
23	$19,284,702	-$7,095,670 -$916,023	$11,273,009
24	$20,249,178	-$7,452,526 -$961,836	$11,834,816
25	$21,261,396	-$7,827,047 -$1,009,916	$12,424,433
26	$22,324,860	-$8,220,529 -$1,060,431	$13,043,900
27	$23,440,884	-$8,633,457 -$1,113,442	$13,693,985
28	$24,612,972	-$9,067,130 -$1,169,116	$14,376,726
29	$25,843,752	-$9,522,519 -$1,227,578	$15,093,655
30	$27,135,852	-$10,000,596 -$1,288,953	$15,846,303