California Lottery

CALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 23, 2026 is estimated to be $266 Million, with a cash option of 120.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of California, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

California MEGA Millions Jackpot/Cash Option for Fri Jan 23, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 23, 2026	$266,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(0%)	$0
Net Lumpsum Payment	$76,143,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$0	$2,561,916
2	$4,203,864	-$1,515,760 -$0	$2,688,104
3	$4,414,004	-$1,593,512 -$0	$2,820,492
4	$4,634,784	-$1,675,200 -$0	$2,959,584
5	$4,866,470	-$1,760,924 -$0	$3,105,546
6	$5,109,860	-$1,850,979 -$0	$3,258,881
7	$5,365,220	-$1,945,462 -$0	$3,419,758
8	$5,633,614	-$2,044,768 -$0	$3,588,846
9	$5,915,308	-$2,148,994 -$0	$3,766,314
10	$6,211,100	-$2,258,437 -$0	$3,952,663
11	$6,521,522	-$2,373,294 -$0	$4,148,228
12	$6,847,638	-$2,493,956 -$0	$4,353,682
13	$7,189,980	-$2,620,623 -$0	$4,569,357
14	$7,549,612	-$2,753,687 -$0	$4,795,925
15	$7,927,066	-$2,893,345 -$0	$5,033,721
16	$8,323,406	-$3,039,991 -$0	$5,283,415
17	$8,739,430	-$3,193,919 -$0	$5,545,511
18	$9,176,468	-$3,355,624 -$0	$5,820,844
19	$9,635,318	-$3,525,398 -$0	$6,109,920
20	$10,117,044	-$3,703,637 -$0	$6,413,407
21	$10,622,976	-$3,890,832 -$0	$6,732,144
22	$11,154,178	-$4,087,376 -$0	$7,066,802
23	$11,711,714	-$4,293,665 -$0	$7,418,049
24	$12,297,446	-$4,510,385 -$0	$7,787,061
25	$12,912,172	-$4,737,834 -$0	$8,174,338
26	$13,558,020	-$4,976,798 -$0	$8,581,222
27	$14,235,788	-$5,227,572 -$0	$9,008,216
28	$14,947,604	-$5,490,944 -$0	$9,456,660
29	$15,695,064	-$5,767,504 -$0	$9,927,560
30	$16,479,764	-$6,057,843 -$0	$10,421,921