Georgia Lottery

GALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 2, 2026 is estimated to be $346 Million, with a cash option of 153.8 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. Additionally, if you are a resident of Georgia, your state will take 5.75% of 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.

Georgia MEGA Millions Jackpot/Cash Option for Tue Jun 2, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 2, 2026	$346,000,000	$153,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,800,000
Federal Tax(24%)	$36,912,000
Additional Federal Tax	$19,954,330
State Tax(5.75%)	$8,843,500
Net Lumpsum Payment	$88,090,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,207,646	-$1,887,159 -$299,440	$3,021,047
2	$5,468,184	-$1,983,558 -$314,421	$3,170,205
3	$5,741,524	-$2,084,694 -$330,138	$3,326,692
4	$6,028,704	-$2,190,951 -$346,650	$3,491,103
5	$6,330,070	-$2,302,456 -$363,979	$3,663,635
6	$6,646,660	-$2,419,595 -$382,183	$3,844,882
7	$6,978,820	-$2,542,494 -$401,282	$4,035,044
8	$7,327,934	-$2,671,666 -$421,356	$4,234,912
9	$7,694,348	-$2,807,239 -$442,425	$4,444,684
10	$8,079,100	-$2,949,597 -$464,548	$4,664,955
11	$8,482,882	-$3,098,997 -$487,766	$4,896,119
12	$8,907,078	-$3,255,949 -$512,157	$5,138,972
13	$9,352,380	-$3,420,711 -$537,762	$5,393,907
14	$9,820,172	-$3,593,794 -$564,660	$5,661,718
15	$10,311,146	-$3,775,454 -$592,891	$5,942,801
16	$10,826,686	-$3,966,204 -$622,534	$6,237,948
17	$11,367,830	-$4,166,427 -$653,650	$6,547,753
18	$11,936,308	-$4,376,764 -$686,338	$6,873,206
19	$12,533,158	-$4,597,599 -$720,657	$7,214,902
20	$13,159,764	-$4,829,443 -$756,686	$7,573,635
21	$13,817,856	-$5,072,937 -$794,527	$7,950,392
22	$14,508,818	-$5,328,593 -$834,257	$8,345,968
23	$15,234,034	-$5,596,923 -$875,957	$8,761,154
24	$15,995,926	-$5,878,823 -$919,766	$9,197,337
25	$16,795,532	-$6,174,677 -$965,743	$9,655,112
26	$17,635,620	-$6,485,510 -$1,014,048	$10,136,062
27	$18,517,228	-$6,811,705 -$1,064,741	$10,640,782
28	$19,443,124	-$7,154,286 -$1,117,980	$11,170,858
29	$20,415,384	-$7,514,022 -$1,173,885	$11,727,477
30	$21,436,084	-$7,891,681 -$1,232,575	$12,311,828