Oklahoma Lottery

OKLottery 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 Oklahoma, your state will take 4.75% 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.

Oklahoma 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(4.75%)	$5,738,000
Net Lumpsum Payment	$70,405,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$190,169	$2,371,747
2	$4,203,864	-$1,515,760 -$199,684	$2,488,420
3	$4,414,004	-$1,593,512 -$209,665	$2,610,827
4	$4,634,784	-$1,675,200 -$220,152	$2,739,432
5	$4,866,470	-$1,760,924 -$231,157	$2,874,389
6	$5,109,860	-$1,850,979 -$242,718	$3,016,163
7	$5,365,220	-$1,945,462 -$254,848	$3,164,910
8	$5,633,614	-$2,044,768 -$267,597	$3,321,249
9	$5,915,308	-$2,148,994 -$280,977	$3,485,337
10	$6,211,100	-$2,258,437 -$295,027	$3,657,636
11	$6,521,522	-$2,373,294 -$309,772	$3,838,456
12	$6,847,638	-$2,493,956 -$325,263	$4,028,419
13	$7,189,980	-$2,620,623 -$341,524	$4,227,833
14	$7,549,612	-$2,753,687 -$358,607	$4,437,318
15	$7,927,066	-$2,893,345 -$376,536	$4,657,185
16	$8,323,406	-$3,039,991 -$395,362	$4,888,053
17	$8,739,430	-$3,193,919 -$415,123	$5,130,388
18	$9,176,468	-$3,355,624 -$435,882	$5,384,962
19	$9,635,318	-$3,525,398 -$457,678	$5,652,242
20	$10,117,044	-$3,703,637 -$480,560	$5,932,847
21	$10,622,976	-$3,890,832 -$504,591	$6,227,553
22	$11,154,178	-$4,087,376 -$529,823	$6,536,979
23	$11,711,714	-$4,293,665 -$556,306	$6,861,743
24	$12,297,446	-$4,510,385 -$584,129	$7,202,932
25	$12,912,172	-$4,737,834 -$613,328	$7,561,010
26	$13,558,020	-$4,976,798 -$644,006	$7,937,216
27	$14,235,788	-$5,227,572 -$676,200	$8,332,016
28	$14,947,604	-$5,490,944 -$710,011	$8,746,649
29	$15,695,064	-$5,767,504 -$745,516	$9,182,044
30	$16,479,764	-$6,057,843 -$782,789	$9,639,132