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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland 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(8.95%) | $14,507,950 | | Net Lumpsum Payment | $87,654,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$542,867 |
$3,318,101 |
| 2 |
$6,369,012 |
$2,316,865
$570,027 |
$3,482,120 |
| 3 |
$6,687,382 |
$2,434,662
$598,521 |
$3,654,199 |
| 4 |
$7,021,872 |
$2,558,423
$628,458 |
$3,834,991 |
| 5 |
$7,372,885 |
$2,688,298
$659,873 |
$4,024,714 |
| 6 |
$7,741,630 |
$2,824,733
$692,876 |
$4,224,021 |
| 7 |
$8,128,510 |
$2,967,879
$727,502 |
$4,433,129 |
| 8 |
$8,535,137 |
$3,118,331
$763,895 |
$4,652,911 |
| 9 |
$8,961,914 |
$3,276,239
$802,091 |
$4,883,584 |
| 10 |
$9,410,050 |
$3,442,049
$842,199 |
$5,125,802 |
| 11 |
$9,880,351 |
$3,616,060
$884,291 |
$5,380,000 |
| 12 |
$10,374,429 |
$3,798,869
$928,511 |
$5,647,049 |
| 13 |
$10,893,090 |
$3,990,774
$974,932 |
$5,927,384 |
| 14 |
$11,437,946 |
$4,192,370
$1,023,696 |
$6,221,880 |
| 15 |
$12,009,803 |
$4,403,957
$1,074,877 |
$6,530,969 |
| 16 |
$12,610,273 |
$4,626,131
$1,128,619 |
$6,855,523 |
| 17 |
$13,240,565 |
$4,859,339
$1,185,031 |
$7,196,195 |
| 18 |
$13,902,694 |
$5,104,327
$1,244,291 |
$7,554,076 |
| 19 |
$14,597,869 |
$5,361,542
$1,306,509 |
$7,929,818 |
| 20 |
$15,327,702 |
$5,631,580
$1,371,829 |
$8,324,293 |
| 21 |
$16,094,208 |
$5,915,187
$1,440,432 |
$8,738,589 |
| 22 |
$16,898,999 |
$6,212,960
$1,512,460 |
$9,173,579 |
| 23 |
$17,743,687 |
$6,525,495
$1,588,060 |
$9,630,132 |
| 24 |
$18,631,093 |
$6,853,835
$1,667,483 |
$10,109,775 |
| 25 |
$19,562,426 |
$7,198,428
$1,750,837 |
$10,613,161 |
| 26 |
$20,540,910 |
$7,560,467
$1,838,411 |
$11,142,032 |
| 27 |
$21,567,754 |
$7,940,399
$1,930,314 |
$11,697,041 |
| 28 |
$22,646,182 |
$8,339,418
$2,026,833 |
$12,279,931 |
| 29 |
$23,778,612 |
$8,758,417
$2,128,186 |
$12,892,009 |
| 30 |
$24,967,462 |
$9,198,291
$2,234,588 |
$13,534,583 |
|
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