The jackpot for the MEGA Millions draw on Fri Feb 6, 2026, is projected to be $346 Million, with an option for a cash payout of $156.1 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 Fri Feb 6, 2026 |
|---|
| Draw Date | Fri Feb 6, 2026 | | Projected Jackpot | $346,000,000 | | Cash Value | $156,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
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 |
|
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