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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $10,941,750 | | Net Lumpsum Payment | $91,220,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$409,425 |
$3,451,543 |
| 2 |
$6,369,012 |
$2,316,865
$429,908 |
$3,622,239 |
| 3 |
$6,687,382 |
$2,434,662
$451,398 |
$3,801,322 |
| 4 |
$7,021,872 |
$2,558,423
$473,976 |
$3,989,473 |
| 5 |
$7,372,885 |
$2,688,298
$497,670 |
$4,186,917 |
| 6 |
$7,741,630 |
$2,824,733
$522,560 |
$4,394,337 |
| 7 |
$8,128,510 |
$2,967,879
$548,674 |
$4,611,957 |
| 8 |
$8,535,137 |
$3,118,331
$576,122 |
$4,840,684 |
| 9 |
$8,961,914 |
$3,276,239
$604,929 |
$5,080,746 |
| 10 |
$9,410,050 |
$3,442,049
$635,178 |
$5,332,823 |
| 11 |
$9,880,351 |
$3,616,060
$666,924 |
$5,597,367 |
| 12 |
$10,374,429 |
$3,798,869
$700,274 |
$5,875,286 |
| 13 |
$10,893,090 |
$3,990,774
$735,284 |
$6,167,032 |
| 14 |
$11,437,946 |
$4,192,370
$772,061 |
$6,473,515 |
| 15 |
$12,009,803 |
$4,403,957
$810,662 |
$6,795,184 |
| 16 |
$12,610,273 |
$4,626,131
$851,193 |
$7,132,949 |
| 17 |
$13,240,565 |
$4,859,339
$893,738 |
$7,487,488 |
| 18 |
$13,902,694 |
$5,104,327
$938,432 |
$7,859,935 |
| 19 |
$14,597,869 |
$5,361,542
$985,356 |
$8,250,971 |
| 20 |
$15,327,702 |
$5,631,580
$1,034,620 |
$8,661,502 |
| 21 |
$16,094,208 |
$5,915,187
$1,086,359 |
$9,092,662 |
| 22 |
$16,898,999 |
$6,212,960
$1,140,682 |
$9,545,357 |
| 23 |
$17,743,687 |
$6,525,495
$1,197,699 |
$10,020,493 |
| 24 |
$18,631,093 |
$6,853,835
$1,257,599 |
$10,519,659 |
| 25 |
$19,562,426 |
$7,198,428
$1,320,464 |
$11,043,534 |
| 26 |
$20,540,910 |
$7,560,467
$1,386,511 |
$11,593,932 |
| 27 |
$21,567,754 |
$7,940,399
$1,455,823 |
$12,171,532 |
| 28 |
$22,646,182 |
$8,339,418
$1,528,617 |
$12,778,147 |
| 29 |
$23,778,612 |
$8,758,417
$1,605,056 |
$13,415,139 |
| 30 |
$24,967,462 |
$9,198,291
$1,685,304 |
$14,083,867 |
|
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