Montana Lottery

MTLottery 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. Additionally, if you are a resident of Montana, your state will take 6.75% 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.

Montana 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(6.75%)	$8,154,000
Net Lumpsum Payment	$67,989,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$270,241	$2,291,675
2	$4,203,864	-$1,515,760 -$283,761	$2,404,343
3	$4,414,004	-$1,593,512 -$297,945	$2,522,547
4	$4,634,784	-$1,675,200 -$312,848	$2,646,736
5	$4,866,470	-$1,760,924 -$328,487	$2,777,059
6	$5,109,860	-$1,850,979 -$344,916	$2,913,965
7	$5,365,220	-$1,945,462 -$362,152	$3,057,606
8	$5,633,614	-$2,044,768 -$380,269	$3,208,577
9	$5,915,308	-$2,148,994 -$399,283	$3,367,031
10	$6,211,100	-$2,258,437 -$419,249	$3,533,414
11	$6,521,522	-$2,373,294 -$440,203	$3,708,025
12	$6,847,638	-$2,493,956 -$462,216	$3,891,466
13	$7,189,980	-$2,620,623 -$485,324	$4,084,033
14	$7,549,612	-$2,753,687 -$509,599	$4,286,326
15	$7,927,066	-$2,893,345 -$535,077	$4,498,644
16	$8,323,406	-$3,039,991 -$561,830	$4,721,585
17	$8,739,430	-$3,193,919 -$589,912	$4,955,599
18	$9,176,468	-$3,355,624 -$619,412	$5,201,432
19	$9,635,318	-$3,525,398 -$650,384	$5,459,536
20	$10,117,044	-$3,703,637 -$682,900	$5,730,507
21	$10,622,976	-$3,890,832 -$717,051	$6,015,093
22	$11,154,178	-$4,087,376 -$752,907	$6,313,895
23	$11,711,714	-$4,293,665 -$790,541	$6,627,508
24	$12,297,446	-$4,510,385 -$830,078	$6,956,983
25	$12,912,172	-$4,737,834 -$871,572	$7,302,766
26	$13,558,020	-$4,976,798 -$915,166	$7,666,056
27	$14,235,788	-$5,227,572 -$960,916	$8,047,300
28	$14,947,604	-$5,490,944 -$1,008,963	$8,447,697
29	$15,695,064	-$5,767,504 -$1,059,417	$8,868,143
30	$16,479,764	-$6,057,843 -$1,112,384	$9,309,537