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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $10,654,560 | | Net Lumpsum Payment | $65,489,110 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$353,115 |
$2,208,801 |
| 2 |
$4,203,864 |
$1,515,760
$370,781 |
$2,317,323 |
| 3 |
$4,414,004 |
$1,593,512
$389,315 |
$2,431,177 |
| 4 |
$4,634,784 |
$1,675,200
$408,788 |
$2,550,796 |
| 5 |
$4,866,470 |
$1,760,924
$429,223 |
$2,676,323 |
| 6 |
$5,109,860 |
$1,850,979
$450,690 |
$2,808,191 |
| 7 |
$5,365,220 |
$1,945,462
$473,212 |
$2,946,546 |
| 8 |
$5,633,614 |
$2,044,768
$496,885 |
$3,091,961 |
| 9 |
$5,915,308 |
$2,148,994
$521,730 |
$3,244,584 |
| 10 |
$6,211,100 |
$2,258,437
$547,819 |
$3,404,844 |
| 11 |
$6,521,522 |
$2,373,294
$575,198 |
$3,573,030 |
| 12 |
$6,847,638 |
$2,493,956
$603,962 |
$3,749,720 |
| 13 |
$7,189,980 |
$2,620,623
$634,156 |
$3,935,201 |
| 14 |
$7,549,612 |
$2,753,687
$665,876 |
$4,130,049 |
| 15 |
$7,927,066 |
$2,893,345
$699,167 |
$4,334,554 |
| 16 |
$8,323,406 |
$3,039,991
$734,124 |
$4,549,291 |
| 17 |
$8,739,430 |
$3,193,919
$770,818 |
$4,774,693 |
| 18 |
$9,176,468 |
$3,355,624
$809,364 |
$5,011,480 |
| 19 |
$9,635,318 |
$3,525,398
$849,835 |
$5,260,085 |
| 20 |
$10,117,044 |
$3,703,637
$892,323 |
$5,521,084 |
| 21 |
$10,622,976 |
$3,890,832
$936,946 |
$5,795,198 |
| 22 |
$11,154,178 |
$4,087,376
$983,798 |
$6,083,004 |
| 23 |
$11,711,714 |
$4,293,665
$1,032,973 |
$6,385,076 |
| 24 |
$12,297,446 |
$4,510,385
$1,084,635 |
$6,702,426 |
| 25 |
$12,912,172 |
$4,737,834
$1,138,854 |
$7,035,484 |
| 26 |
$13,558,020 |
$4,976,798
$1,195,817 |
$7,385,405 |
| 27 |
$14,235,788 |
$5,227,572
$1,255,597 |
$7,752,619 |
| 28 |
$14,947,604 |
$5,490,944
$1,318,379 |
$8,138,281 |
| 29 |
$15,695,064 |
$5,767,504
$1,384,305 |
$8,543,255 |
| 30 |
$16,479,764 |
$6,057,843
$1,453,515 |
$8,968,406 |
|
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