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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.
| South Dakota 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(0%) | $0 | | Net Lumpsum Payment | $127,992,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$0 |
$4,192,843 |
| 2 |
$6,922,152 |
$2,521,527
$0 |
$4,400,625 |
| 3 |
$7,268,172 |
$2,649,554
$0 |
$4,618,618 |
| 4 |
$7,631,712 |
$2,784,064
$0 |
$4,847,648 |
| 5 |
$8,013,210 |
$2,925,218
$0 |
$5,087,992 |
| 6 |
$8,413,980 |
$3,073,503
$0 |
$5,340,477 |
| 7 |
$8,834,460 |
$3,229,081
$0 |
$5,605,379 |
| 8 |
$9,276,402 |
$3,392,599
$0 |
$5,883,803 |
| 9 |
$9,740,244 |
$3,564,221
$0 |
$6,176,023 |
| 10 |
$10,227,300 |
$3,744,431
$0 |
$6,482,869 |
| 11 |
$10,738,446 |
$3,933,555
$0 |
$6,804,891 |
| 12 |
$11,275,434 |
$4,132,241
$0 |
$7,143,193 |
| 13 |
$11,839,140 |
$4,340,812
$0 |
$7,498,328 |
| 14 |
$12,431,316 |
$4,559,917
$0 |
$7,871,399 |
| 15 |
$13,052,838 |
$4,789,880
$0 |
$8,262,958 |
| 16 |
$13,705,458 |
$5,031,350
$0 |
$8,674,108 |
| 17 |
$14,390,490 |
$5,284,812
$0 |
$9,105,678 |
| 18 |
$15,110,124 |
$5,551,076
$0 |
$9,559,048 |
| 19 |
$15,865,674 |
$5,830,630
$0 |
$10,035,044 |
| 20 |
$16,658,892 |
$6,124,120
$0 |
$10,534,772 |
| 21 |
$17,491,968 |
$6,432,359
$0 |
$11,059,609 |
| 22 |
$18,366,654 |
$6,755,992
$0 |
$11,610,662 |
| 23 |
$19,284,702 |
$7,095,670
$0 |
$12,189,032 |
| 24 |
$20,249,178 |
$7,452,526
$0 |
$12,796,652 |
| 25 |
$21,261,396 |
$7,827,047
$0 |
$13,434,349 |
| 26 |
$22,324,860 |
$8,220,529
$0 |
$14,104,331 |
| 27 |
$23,440,884 |
$8,633,457
$0 |
$14,807,427 |
| 28 |
$24,612,972 |
$9,067,130
$0 |
$15,545,842 |
| 29 |
$25,843,752 |
$9,522,519
$0 |
$16,321,233 |
| 30 |
$27,135,852 |
$10,000,596
$0 |
$17,135,256 |
|
|
