Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 17, 2026 is estimated to be $395 Million, with a cash option of 183.3 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 Michigan, your state will take 4.25% 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.

Michigan MEGA Millions Jackpot/Cash Option for Tue Feb 17, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 17, 2026	$395,000,000	$183,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$183,300,000
Federal Tax(24%)	$43,992,000
Additional Federal Tax	$23,789,330
State Tax(4.25%)	$7,790,250
Net Lumpsum Payment	$107,728,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,945,145	-$2,160,034 -$252,669	$3,532,442
2	$6,242,580	-$2,270,085 -$265,310	$3,707,185
3	$6,554,630	-$2,385,543 -$278,572	$3,890,515
4	$6,882,480	-$2,506,848 -$292,505	$4,083,127
5	$7,226,525	-$2,634,145 -$307,127	$4,285,253
6	$7,587,950	-$2,767,872 -$322,488	$4,497,590
7	$7,967,150	-$2,908,176 -$338,604	$4,720,370
8	$8,365,705	-$3,055,641 -$355,542	$4,954,522
9	$8,784,010	-$3,210,414 -$373,320	$5,200,276
10	$9,223,250	-$3,372,933 -$391,988	$5,458,329
11	$9,684,215	-$3,543,490 -$411,579	$5,729,146
12	$10,168,485	-$3,722,670 -$432,161	$6,013,654
13	$10,676,850	-$3,910,765 -$453,766	$6,312,319
14	$11,210,890	-$4,108,360 -$476,463	$6,626,067
15	$11,771,395	-$4,315,747 -$500,284	$6,955,364
16	$12,359,945	-$4,533,510 -$525,298	$7,301,137
17	$12,977,725	-$4,762,089 -$551,553	$7,664,083
18	$13,626,710	-$5,002,213 -$579,135	$8,045,362
19	$14,308,085	-$5,254,322 -$608,094	$8,445,669
20	$15,023,430	-$5,518,999 -$638,496	$8,865,935
21	$15,774,720	-$5,796,977 -$670,426	$9,307,317
22	$16,563,535	-$6,088,838 -$703,950	$9,770,747
23	$17,391,455	-$6,395,169 -$739,137	$10,257,149
24	$18,261,245	-$6,716,991 -$776,103	$10,768,151
25	$19,174,090	-$7,054,744 -$814,899	$11,304,447
26	$20,133,150	-$7,409,596 -$855,659	$11,867,895
27	$21,139,610	-$7,781,986 -$898,433	$12,459,191
28	$22,196,630	-$8,173,083 -$943,357	$13,080,190
29	$23,306,580	-$8,583,765 -$990,530	$13,732,285
30	$24,471,830	-$9,014,907 -$1,040,053	$14,416,870