The jackpot for the MEGA Millions draw on Fri Jan 16, 2026, is projected to be $230 Million, with an option for a cash payout of $105.1 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York MEGA Millions Jackpot/Cash Option for Fri Jan 16, 2026 |
|---|
| Draw Date | Fri Jan 16, 2026 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,100,000 | | Federal Tax(24%) | $25,224,000 | | Additional Federal Tax | $13,623,330 | | State Tax(8.82%) | $9,269,820 | | Net Lumpsum Payment | $56,982,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$305,325 |
$1,915,235 |
| 2 |
$3,634,920 |
$1,305,251
$320,600 |
$2,009,069 |
| 3 |
$3,816,620 |
$1,372,480
$336,626 |
$2,107,514 |
| 4 |
$4,007,520 |
$1,443,113
$353,463 |
$2,210,944 |
| 5 |
$4,207,850 |
$1,517,235
$371,132 |
$2,319,483 |
| 6 |
$4,418,300 |
$1,595,101
$389,694 |
$2,433,505 |
| 7 |
$4,639,100 |
$1,676,797
$409,169 |
$2,553,134 |
| 8 |
$4,871,170 |
$1,762,663
$429,637 |
$2,678,870 |
| 9 |
$5,114,740 |
$1,852,784
$451,120 |
$2,810,836 |
| 10 |
$5,370,500 |
$1,947,415
$473,678 |
$2,949,407 |
| 11 |
$5,638,910 |
$2,046,727
$497,352 |
$3,094,831 |
| 12 |
$5,920,890 |
$2,151,060
$522,222 |
$3,247,608 |
| 13 |
$6,216,900 |
$2,260,583
$548,331 |
$3,407,986 |
| 14 |
$6,527,860 |
$2,375,639
$575,757 |
$3,576,464 |
| 15 |
$6,854,230 |
$2,496,395
$604,543 |
$3,753,292 |
| 16 |
$7,196,930 |
$2,623,194
$634,769 |
$3,938,967 |
| 17 |
$7,556,650 |
$2,756,291
$666,497 |
$4,133,862 |
| 18 |
$7,934,540 |
$2,896,110
$699,826 |
$4,338,604 |
| 19 |
$8,331,290 |
$3,042,908
$734,820 |
$4,553,562 |
| 20 |
$8,747,820 |
$3,197,024
$771,558 |
$4,779,238 |
| 21 |
$9,185,280 |
$3,358,884
$810,142 |
$5,016,254 |
| 22 |
$9,644,590 |
$3,528,829
$850,653 |
$5,265,108 |
| 23 |
$10,126,670 |
$3,707,198
$893,172 |
$5,526,300 |
| 24 |
$10,633,130 |
$3,894,588
$937,842 |
$5,800,700 |
| 25 |
$11,164,660 |
$4,091,255
$984,723 |
$6,088,682 |
| 26 |
$11,723,100 |
$4,297,877
$1,033,977 |
$6,391,246 |
| 27 |
$12,309,140 |
$4,514,712
$1,085,666 |
$6,708,762 |
| 28 |
$12,924,620 |
$4,742,440
$1,139,951 |
$7,042,229 |
| 29 |
$13,570,920 |
$4,981,571
$1,196,955 |
$7,392,394 |
| 30 |
$14,249,420 |
$5,232,616
$1,256,799 |
$7,760,005 |
|
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