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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan 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(4.25%) | $4,466,750 | | Net Lumpsum Payment | $61,785,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$147,124 |
$2,073,436 |
| 2 |
$3,634,920 |
$1,305,251
$154,484 |
$2,175,185 |
| 3 |
$3,816,620 |
$1,372,480
$162,206 |
$2,281,934 |
| 4 |
$4,007,520 |
$1,443,113
$170,320 |
$2,394,087 |
| 5 |
$4,207,850 |
$1,517,235
$178,834 |
$2,511,781 |
| 6 |
$4,418,300 |
$1,595,101
$187,778 |
$2,635,421 |
| 7 |
$4,639,100 |
$1,676,797
$197,162 |
$2,765,141 |
| 8 |
$4,871,170 |
$1,762,663
$207,025 |
$2,901,482 |
| 9 |
$5,114,740 |
$1,852,784
$217,376 |
$3,044,580 |
| 10 |
$5,370,500 |
$1,947,415
$228,246 |
$3,194,839 |
| 11 |
$5,638,910 |
$2,046,727
$239,654 |
$3,352,529 |
| 12 |
$5,920,890 |
$2,151,060
$251,638 |
$3,518,192 |
| 13 |
$6,216,900 |
$2,260,583
$264,218 |
$3,692,099 |
| 14 |
$6,527,860 |
$2,375,639
$277,434 |
$3,874,787 |
| 15 |
$6,854,230 |
$2,496,395
$291,305 |
$4,066,530 |
| 16 |
$7,196,930 |
$2,623,194
$305,870 |
$4,267,866 |
| 17 |
$7,556,650 |
$2,756,291
$321,158 |
$4,479,201 |
| 18 |
$7,934,540 |
$2,896,110
$337,218 |
$4,701,212 |
| 19 |
$8,331,290 |
$3,042,908
$354,080 |
$4,934,302 |
| 20 |
$8,747,820 |
$3,197,024
$371,782 |
$5,179,014 |
| 21 |
$9,185,280 |
$3,358,884
$390,374 |
$5,436,022 |
| 22 |
$9,644,590 |
$3,528,829
$409,895 |
$5,705,866 |
| 23 |
$10,126,670 |
$3,707,198
$430,383 |
$5,989,089 |
| 24 |
$10,633,130 |
$3,894,588
$451,908 |
$6,286,634 |
| 25 |
$11,164,660 |
$4,091,255
$474,498 |
$6,598,907 |
| 26 |
$11,723,100 |
$4,297,877
$498,232 |
$6,926,991 |
| 27 |
$12,309,140 |
$4,514,712
$523,138 |
$7,271,290 |
| 28 |
$12,924,620 |
$4,742,440
$549,296 |
$7,632,884 |
| 29 |
$13,570,920 |
$4,981,571
$576,764 |
$8,012,585 |
| 30 |
$14,249,420 |
$5,232,616
$605,600 |
$8,411,204 |
|
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