The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan MEGA Millions Jackpot/Cash Option for Fri Jul 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(4.25%) | $13,744,500 | | Net Lumpsum Payment | $190,037,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$475,273 |
$6,609,619 |
| 2 |
$11,742,372 |
$4,305,008
$499,051 |
$6,938,313 |
| 3 |
$12,329,342 |
$4,522,187
$523,997 |
$7,283,158 |
| 4 |
$12,946,032 |
$4,750,362
$550,206 |
$7,645,464 |
| 5 |
$13,593,185 |
$4,989,809
$577,710 |
$8,025,666 |
| 6 |
$14,273,030 |
$5,241,351
$606,604 |
$8,425,075 |
| 7 |
$14,986,310 |
$5,505,265
$636,918 |
$8,844,127 |
| 8 |
$15,735,997 |
$5,782,649
$668,780 |
$9,284,568 |
| 9 |
$16,522,834 |
$6,073,779
$702,220 |
$9,746,835 |
| 10 |
$17,349,050 |
$6,379,479
$737,335 |
$10,232,236 |
| 11 |
$18,216,131 |
$6,700,299
$774,186 |
$10,741,646 |
| 12 |
$19,127,049 |
$7,037,339
$812,900 |
$11,276,810 |
| 13 |
$20,083,290 |
$7,391,148
$853,540 |
$11,838,602 |
| 14 |
$21,087,826 |
$7,762,826
$896,233 |
$12,428,767 |
| 15 |
$22,142,143 |
$8,152,923
$941,041 |
$13,048,179 |
| 16 |
$23,249,213 |
$8,562,539
$988,092 |
$13,698,582 |
| 17 |
$24,411,265 |
$8,992,498
$1,037,479 |
$14,381,288 |
| 18 |
$25,632,014 |
$9,444,176
$1,089,361 |
$15,098,477 |
| 19 |
$26,913,689 |
$9,918,395
$1,143,832 |
$15,851,462 |
| 20 |
$28,259,262 |
$10,416,257
$1,201,019 |
$16,641,986 |
| 21 |
$29,672,448 |
$10,939,136
$1,261,079 |
$17,472,233 |
| 22 |
$31,156,219 |
$11,488,131
$1,324,139 |
$18,343,949 |
| 23 |
$32,713,547 |
$12,064,343
$1,390,326 |
$19,258,878 |
| 24 |
$34,349,633 |
$12,669,695
$1,459,859 |
$20,220,079 |
| 25 |
$36,066,706 |
$13,305,012
$1,532,835 |
$21,228,859 |
| 26 |
$37,870,710 |
$13,972,493
$1,609,505 |
$22,288,712 |
| 27 |
$39,763,874 |
$14,672,964
$1,689,965 |
$23,400,945 |
| 28 |
$41,752,142 |
$15,408,623
$1,774,466 |
$24,569,053 |
| 29 |
$43,839,972 |
$16,181,120
$1,863,199 |
$25,795,653 |
| 30 |
$46,031,822 |
$16,992,105
$1,956,352 |
$27,083,365 |
|
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