The jackpot for the MEGA Millions draw on Tue Jan 20, 2026, is projected to be $250 Million, with an option for a cash payout of $113.5 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana MEGA Millions Jackpot/Cash Option for Tue Jan 20, 2026 |
|---|
| Draw Date | Tue Jan 20, 2026 | | Projected Jackpot | $250,000,000 | | Cash Value | $113,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,500,000 | | Federal Tax(24%) | $27,240,000 | | Additional Federal Tax | $14,715,330 | | State Tax(3.15%) | $3,575,250 | | Net Lumpsum Payment | $67,969,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,762,750 |
$1,352,548
$118,527 |
$2,291,675 |
| 2 |
$3,951,000 |
$1,422,200
$124,457 |
$2,404,343 |
| 3 |
$4,148,500 |
$1,495,275
$130,678 |
$2,522,547 |
| 4 |
$4,356,000 |
$1,572,050
$137,214 |
$2,646,736 |
| 5 |
$4,573,750 |
$1,652,618
$144,073 |
$2,777,059 |
| 6 |
$4,802,500 |
$1,737,255
$151,279 |
$2,913,966 |
| 7 |
$5,042,500 |
$1,826,055
$158,839 |
$3,057,606 |
| 8 |
$5,294,750 |
$1,919,388
$166,785 |
$3,208,577 |
| 9 |
$5,559,500 |
$2,017,345
$175,124 |
$3,367,031 |
| 10 |
$5,837,500 |
$2,120,205
$183,881 |
$3,533,414 |
| 11 |
$6,129,250 |
$2,228,153
$193,071 |
$3,708,026 |
| 12 |
$6,435,750 |
$2,341,558
$202,726 |
$3,891,466 |
| 13 |
$6,757,500 |
$2,460,605
$212,861 |
$4,084,034 |
| 14 |
$7,095,500 |
$2,585,665
$223,508 |
$4,286,327 |
| 15 |
$7,450,250 |
$2,716,923
$234,683 |
$4,498,644 |
| 16 |
$7,822,750 |
$2,854,748
$246,417 |
$4,721,585 |
| 17 |
$8,213,750 |
$2,999,418
$258,733 |
$4,955,599 |
| 18 |
$8,624,500 |
$3,151,395
$271,672 |
$5,201,433 |
| 19 |
$9,055,750 |
$3,310,958
$285,256 |
$5,459,536 |
| 20 |
$9,508,500 |
$3,478,475
$299,518 |
$5,730,507 |
| 21 |
$9,984,000 |
$3,654,410
$314,496 |
$6,015,094 |
| 22 |
$10,483,250 |
$3,839,133
$330,222 |
$6,313,895 |
| 23 |
$11,007,250 |
$4,033,013
$346,728 |
$6,627,509 |
| 24 |
$11,557,750 |
$4,236,698
$364,069 |
$6,956,983 |
| 25 |
$12,135,500 |
$4,450,465
$382,268 |
$7,302,767 |
| 26 |
$12,742,500 |
$4,675,055
$401,389 |
$7,666,056 |
| 27 |
$13,379,500 |
$4,910,745
$421,454 |
$8,047,301 |
| 28 |
$14,048,500 |
$5,158,275
$442,528 |
$8,447,697 |
| 29 |
$14,751,000 |
$5,418,200
$464,657 |
$8,868,143 |
| 30 |
$15,488,500 |
$5,691,075
$487,888 |
$9,309,537 |
|
|
