The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 Million, with an option for a cash payout of $145.7 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan MEGA Millions Jackpot/Cash Option for Tue Feb 3, 2026 |
|---|
| Draw Date | Tue Feb 3, 2026 | | Projected Jackpot | $323,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(4.25%) | $6,192,250 | | Net Lumpsum Payment | $85,638,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,861,473 |
$1,759,075
$206,613 |
$2,895,785 |
| 2 |
$5,104,692 |
$1,849,066
$216,949 |
$3,038,677 |
| 3 |
$5,359,862 |
$1,943,479
$227,794 |
$3,188,589 |
| 4 |
$5,627,952 |
$2,042,673
$239,188 |
$3,346,091 |
| 5 |
$5,909,285 |
$2,146,766
$251,145 |
$3,511,374 |
| 6 |
$6,204,830 |
$2,256,117
$263,705 |
$3,685,008 |
| 7 |
$6,514,910 |
$2,370,847
$276,884 |
$3,867,179 |
| 8 |
$6,840,817 |
$2,491,433
$290,735 |
$4,058,649 |
| 9 |
$7,182,874 |
$2,617,994
$305,272 |
$4,259,608 |
| 10 |
$7,542,050 |
$2,750,889
$320,537 |
$4,470,624 |
| 11 |
$7,918,991 |
$2,890,357
$336,557 |
$4,692,077 |
| 12 |
$8,314,989 |
$3,036,876
$353,387 |
$4,924,726 |
| 13 |
$8,730,690 |
$3,190,686
$371,054 |
$5,168,950 |
| 14 |
$9,167,386 |
$3,352,263
$389,614 |
$5,425,509 |
| 15 |
$9,625,723 |
$3,521,848
$409,093 |
$5,694,782 |
| 16 |
$10,106,993 |
$3,699,918
$429,547 |
$5,977,528 |
| 17 |
$10,612,165 |
$3,886,831
$451,017 |
$6,274,317 |
| 18 |
$11,142,854 |
$4,083,186
$473,571 |
$6,586,097 |
| 19 |
$11,700,029 |
$4,289,341
$497,251 |
$6,913,437 |
| 20 |
$12,284,982 |
$4,505,774
$522,112 |
$7,257,096 |
| 21 |
$12,899,328 |
$4,733,082
$548,221 |
$7,618,025 |
| 22 |
$13,544,359 |
$4,971,743
$575,635 |
$7,996,981 |
| 23 |
$14,221,367 |
$5,222,236
$604,408 |
$8,394,723 |
| 24 |
$14,932,613 |
$5,485,397
$634,636 |
$8,812,580 |
| 25 |
$15,679,066 |
$5,761,585
$666,360 |
$9,251,121 |
| 26 |
$16,463,310 |
$6,051,755
$699,691 |
$9,711,864 |
| 27 |
$17,286,314 |
$6,356,267
$734,668 |
$10,195,379 |
| 28 |
$18,150,662 |
$6,676,075
$771,403 |
$10,703,184 |
| 29 |
$19,058,292 |
$7,011,898
$809,977 |
$11,236,417 |
| 30 |
$20,011,142 |
$7,364,453
$850,474 |
$11,796,215 |
|
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