The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana MEGA Millions Jackpot/Cash Option for Fri Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(3.15%) | $5,106,150 | | Net Lumpsum Payment | $97,056,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$191,065 |
$3,669,903 |
| 2 |
$6,369,012 |
$2,316,865
$200,624 |
$3,851,523 |
| 3 |
$6,687,382 |
$2,434,662
$210,653 |
$4,042,067 |
| 4 |
$7,021,872 |
$2,558,423
$221,189 |
$4,242,260 |
| 5 |
$7,372,885 |
$2,688,298
$232,246 |
$4,452,341 |
| 6 |
$7,741,630 |
$2,824,733
$243,861 |
$4,673,036 |
| 7 |
$8,128,510 |
$2,967,879
$256,048 |
$4,904,583 |
| 8 |
$8,535,137 |
$3,118,331
$268,857 |
$5,147,949 |
| 9 |
$8,961,914 |
$3,276,239
$282,300 |
$5,403,375 |
| 10 |
$9,410,050 |
$3,442,049
$296,417 |
$5,671,584 |
| 11 |
$9,880,351 |
$3,616,060
$311,231 |
$5,953,060 |
| 12 |
$10,374,429 |
$3,798,869
$326,795 |
$6,248,765 |
| 13 |
$10,893,090 |
$3,990,774
$343,132 |
$6,559,184 |
| 14 |
$11,437,946 |
$4,192,370
$360,295 |
$6,885,281 |
| 15 |
$12,009,803 |
$4,403,957
$378,309 |
$7,227,537 |
| 16 |
$12,610,273 |
$4,626,131
$397,224 |
$7,586,918 |
| 17 |
$13,240,565 |
$4,859,339
$417,078 |
$7,964,148 |
| 18 |
$13,902,694 |
$5,104,327
$437,935 |
$8,360,432 |
| 19 |
$14,597,869 |
$5,361,542
$459,833 |
$8,776,494 |
| 20 |
$15,327,702 |
$5,631,580
$482,823 |
$9,213,299 |
| 21 |
$16,094,208 |
$5,915,187
$506,968 |
$9,672,053 |
| 22 |
$16,898,999 |
$6,212,960
$532,318 |
$10,153,721 |
| 23 |
$17,743,687 |
$6,525,495
$558,926 |
$10,659,266 |
| 24 |
$18,631,093 |
$6,853,835
$586,879 |
$11,190,379 |
| 25 |
$19,562,426 |
$7,198,428
$616,216 |
$11,747,782 |
| 26 |
$20,540,910 |
$7,560,467
$647,039 |
$12,333,404 |
| 27 |
$21,567,754 |
$7,940,399
$679,384 |
$12,947,971 |
| 28 |
$22,646,182 |
$8,339,418
$713,355 |
$13,593,409 |
| 29 |
$23,778,612 |
$8,758,417
$749,026 |
$14,271,169 |
| 30 |
$24,967,462 |
$9,198,291
$786,475 |
$14,982,696 |
|
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