The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida MEGA Millions Jackpot/Cash Option for Fri Jan 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $45,399,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$0 |
$1,528,364 |
| 2 |
$2,481,228 |
$878,385
$0 |
$1,602,843 |
| 3 |
$2,605,258 |
$924,276
$0 |
$1,680,982 |
| 4 |
$2,735,568 |
$972,491
$0 |
$1,763,077 |
| 5 |
$2,872,315 |
$1,023,087
$0 |
$1,849,228 |
| 6 |
$3,015,970 |
$1,076,239
$0 |
$1,939,731 |
| 7 |
$3,166,690 |
$1,132,006
$0 |
$2,034,684 |
| 8 |
$3,325,103 |
$1,190,618
$0 |
$2,134,485 |
| 9 |
$3,491,366 |
$1,252,136
$0 |
$2,239,230 |
| 10 |
$3,665,950 |
$1,316,732
$0 |
$2,349,218 |
| 11 |
$3,849,169 |
$1,384,523
$0 |
$2,464,646 |
| 12 |
$4,041,651 |
$1,455,741
$0 |
$2,585,910 |
| 13 |
$4,243,710 |
$1,530,503
$0 |
$2,713,207 |
| 14 |
$4,455,974 |
$1,609,041
$0 |
$2,846,933 |
| 15 |
$4,678,757 |
$1,691,470
$0 |
$2,987,287 |
| 16 |
$4,912,687 |
$1,778,025
$0 |
$3,134,662 |
| 17 |
$5,158,235 |
$1,868,877
$0 |
$3,289,358 |
| 18 |
$5,416,186 |
$1,964,319
$0 |
$3,451,867 |
| 19 |
$5,687,011 |
$2,064,524
$0 |
$3,622,487 |
| 20 |
$5,971,338 |
$2,169,725
$0 |
$3,801,613 |
| 21 |
$6,269,952 |
$2,280,213
$0 |
$3,989,739 |
| 22 |
$6,583,481 |
$2,396,218
$0 |
$4,187,263 |
| 23 |
$6,912,553 |
$2,517,975
$0 |
$4,394,578 |
| 24 |
$7,258,267 |
$2,645,889
$0 |
$4,612,378 |
| 25 |
$7,621,094 |
$2,780,135
$0 |
$4,840,959 |
| 26 |
$8,002,290 |
$2,921,178
$0 |
$5,081,112 |
| 27 |
$8,402,326 |
$3,069,191
$0 |
$5,333,135 |
| 28 |
$8,822,458 |
$3,224,640
$0 |
$5,597,818 |
| 29 |
$9,263,628 |
$3,387,873
$0 |
$5,875,755 |
| 30 |
$9,726,778 |
$3,559,238
$0 |
$6,167,540 |
|
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