The jackpot for the MEGA Millions draw on Fri Feb 27, 2026, is projected to be $458 Million, with an option for a cash payout of $212.4 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 27, 2026 |
|---|
| Draw Date | Fri Feb 27, 2026 | | Projected Jackpot | $458,000,000 | | Cash Value | $212,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $212,400,000 | | Federal Tax(24%) | $50,976,000 | | Additional Federal Tax | $27,572,330 | | State Tax(4.25%) | $9,027,000 | | Net Lumpsum Payment | $124,824,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,893,358 |
$2,510,873
$292,968 |
$4,089,517 |
| 2 |
$7,238,232 |
$2,638,476
$307,625 |
$4,292,131 |
| 3 |
$7,600,052 |
$2,772,350
$323,002 |
$4,504,700 |
| 4 |
$7,980,192 |
$2,913,001
$339,158 |
$4,728,033 |
| 5 |
$8,379,110 |
$3,060,601
$356,112 |
$4,962,397 |
| 6 |
$8,798,180 |
$3,215,657
$373,923 |
$5,208,600 |
| 7 |
$9,237,860 |
$3,378,339
$392,609 |
$5,466,912 |
| 8 |
$9,699,982 |
$3,549,324
$412,249 |
$5,738,409 |
| 9 |
$10,185,004 |
$3,728,782
$432,863 |
$6,023,359 |
| 10 |
$10,694,300 |
$3,917,221
$454,508 |
$6,322,571 |
| 11 |
$11,228,786 |
$4,114,981
$477,223 |
$6,636,582 |
| 12 |
$11,790,294 |
$4,322,739
$501,087 |
$6,966,468 |
| 13 |
$12,379,740 |
$4,540,834
$526,139 |
$7,312,767 |
| 14 |
$12,998,956 |
$4,769,944
$552,456 |
$7,676,556 |
| 15 |
$13,648,858 |
$5,010,408
$580,076 |
$8,058,374 |
| 16 |
$14,331,278 |
$5,262,903
$609,079 |
$8,459,296 |
| 17 |
$15,047,590 |
$5,527,939
$639,523 |
$8,880,128 |
| 18 |
$15,800,084 |
$5,806,361
$671,504 |
$9,322,219 |
| 19 |
$16,590,134 |
$6,098,680
$705,081 |
$9,786,373 |
| 20 |
$17,419,572 |
$6,405,572
$740,332 |
$10,273,668 |
| 21 |
$18,290,688 |
$6,727,885
$777,354 |
$10,785,449 |
| 22 |
$19,205,314 |
$7,066,297
$816,226 |
$11,322,791 |
| 23 |
$20,165,282 |
$7,421,485
$857,024 |
$11,886,773 |
| 24 |
$21,173,798 |
$7,794,636
$899,886 |
$12,479,276 |
| 25 |
$22,232,236 |
$8,186,258
$944,870 |
$13,101,108 |
| 26 |
$23,344,260 |
$8,597,707
$992,131 |
$13,754,422 |
| 27 |
$24,511,244 |
$9,029,491
$1,041,728 |
$14,440,025 |
| 28 |
$25,736,852 |
$9,482,966
$1,093,816 |
$15,160,070 |
| 29 |
$27,023,832 |
$9,959,148
$1,148,513 |
$15,916,171 |
| 30 |
$28,374,932 |
$10,459,055
$1,205,935 |
$16,709,942 |
|
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