The jackpot for the MEGA Millions draw on Fri Jan 23, 2026, is projected to be $266 Million, with an option for a cash payout of $120.8 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia MEGA Millions Jackpot/Cash Option for Fri Jan 23, 2026 |
|---|
| Draw Date | Fri Jan 23, 2026 | | Projected Jackpot | $266,000,000 | | Cash Value | $120,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $120,800,000 | | Federal Tax(24%) | $28,992,000 | | Additional Federal Tax | $15,664,330 | | State Tax(5.75%) | $6,946,000 | | Net Lumpsum Payment | $69,197,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$230,205 |
$2,331,711 |
| 2 |
$4,203,864 |
$1,515,760
$241,722 |
$2,446,382 |
| 3 |
$4,414,004 |
$1,593,512
$253,805 |
$2,566,687 |
| 4 |
$4,634,784 |
$1,675,200
$266,500 |
$2,693,084 |
| 5 |
$4,866,470 |
$1,760,924
$279,822 |
$2,825,724 |
| 6 |
$5,109,860 |
$1,850,979
$293,817 |
$2,965,064 |
| 7 |
$5,365,220 |
$1,945,462
$308,500 |
$3,111,258 |
| 8 |
$5,633,614 |
$2,044,768
$323,933 |
$3,264,913 |
| 9 |
$5,915,308 |
$2,148,994
$340,130 |
$3,426,184 |
| 10 |
$6,211,100 |
$2,258,437
$357,138 |
$3,595,525 |
| 11 |
$6,521,522 |
$2,373,294
$374,988 |
$3,773,240 |
| 12 |
$6,847,638 |
$2,493,956
$393,739 |
$3,959,943 |
| 13 |
$7,189,980 |
$2,620,623
$413,424 |
$4,155,933 |
| 14 |
$7,549,612 |
$2,753,687
$434,103 |
$4,361,822 |
| 15 |
$7,927,066 |
$2,893,345
$455,806 |
$4,577,915 |
| 16 |
$8,323,406 |
$3,039,991
$478,596 |
$4,804,819 |
| 17 |
$8,739,430 |
$3,193,919
$502,517 |
$5,042,994 |
| 18 |
$9,176,468 |
$3,355,624
$527,647 |
$5,293,197 |
| 19 |
$9,635,318 |
$3,525,398
$554,031 |
$5,555,889 |
| 20 |
$10,117,044 |
$3,703,637
$581,730 |
$5,831,677 |
| 21 |
$10,622,976 |
$3,890,832
$610,821 |
$6,121,323 |
| 22 |
$11,154,178 |
$4,087,376
$641,365 |
$6,425,437 |
| 23 |
$11,711,714 |
$4,293,665
$673,424 |
$6,744,625 |
| 24 |
$12,297,446 |
$4,510,385
$707,103 |
$7,079,958 |
| 25 |
$12,912,172 |
$4,737,834
$742,450 |
$7,431,888 |
| 26 |
$13,558,020 |
$4,976,798
$779,586 |
$7,801,636 |
| 27 |
$14,235,788 |
$5,227,572
$818,558 |
$8,189,658 |
| 28 |
$14,947,604 |
$5,490,944
$859,487 |
$8,597,173 |
| 29 |
$15,695,064 |
$5,767,504
$902,466 |
$9,025,094 |
| 30 |
$16,479,764 |
$6,057,843
$947,586 |
$9,474,335 |
|
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