The jackpot for the MEGA Millions draw on Tue Feb 24, 2026, is projected to be $438 Million, with an option for a cash payout of $203.1 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 24, 2026 |
|---|
| Draw Date | Tue Feb 24, 2026 | | Projected Jackpot | $438,000,000 | | Cash Value | $203,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $203,100,000 | | Federal Tax(24%) | $48,744,000 | | Additional Federal Tax | $26,363,330 | | State Tax(4.25%) | $8,631,750 | | Net Lumpsum Payment | $119,360,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$280,174 |
$3,912,669 |
| 2 |
$6,922,152 |
$2,521,527
$294,191 |
$4,106,434 |
| 3 |
$7,268,172 |
$2,649,554
$308,897 |
$4,309,721 |
| 4 |
$7,631,712 |
$2,784,064
$324,348 |
$4,523,300 |
| 5 |
$8,013,210 |
$2,925,218
$340,561 |
$4,747,431 |
| 6 |
$8,413,980 |
$3,073,503
$357,594 |
$4,982,883 |
| 7 |
$8,834,460 |
$3,229,081
$375,465 |
$5,229,914 |
| 8 |
$9,276,402 |
$3,392,599
$394,247 |
$5,489,556 |
| 9 |
$9,740,244 |
$3,564,221
$413,960 |
$5,762,063 |
| 10 |
$10,227,300 |
$3,744,431
$434,660 |
$6,048,209 |
| 11 |
$10,738,446 |
$3,933,555
$456,384 |
$6,348,507 |
| 12 |
$11,275,434 |
$4,132,241
$479,206 |
$6,663,987 |
| 13 |
$11,839,140 |
$4,340,812
$503,163 |
$6,995,165 |
| 14 |
$12,431,316 |
$4,559,917
$528,331 |
$7,343,068 |
| 15 |
$13,052,838 |
$4,789,880
$554,746 |
$7,708,212 |
| 16 |
$13,705,458 |
$5,031,350
$582,482 |
$8,091,626 |
| 17 |
$14,390,490 |
$5,284,812
$611,596 |
$8,494,082 |
| 18 |
$15,110,124 |
$5,551,076
$642,180 |
$8,916,868 |
| 19 |
$15,865,674 |
$5,830,630
$674,291 |
$9,360,753 |
| 20 |
$16,658,892 |
$6,124,120
$708,003 |
$9,826,769 |
| 21 |
$17,491,968 |
$6,432,359
$743,409 |
$10,316,200 |
| 22 |
$18,366,654 |
$6,755,992
$780,583 |
$10,830,079 |
| 23 |
$19,284,702 |
$7,095,670
$819,600 |
$11,369,432 |
| 24 |
$20,249,178 |
$7,452,526
$860,590 |
$11,936,062 |
| 25 |
$21,261,396 |
$7,827,047
$903,609 |
$12,530,740 |
| 26 |
$22,324,860 |
$8,220,529
$948,807 |
$13,155,524 |
| 27 |
$23,440,884 |
$8,633,457
$996,238 |
$13,811,189 |
| 28 |
$24,612,972 |
$9,067,130
$1,046,051 |
$14,499,791 |
| 29 |
$25,843,752 |
$9,522,519
$1,098,359 |
$15,222,874 |
| 30 |
$27,135,852 |
$10,000,596
$1,153,274 |
$15,981,982 |
|
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