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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $4,819,920 | | Net Lumpsum Payment | $71,323,750 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$159,742 |
$2,402,174 |
| 2 |
$4,203,864 |
$1,515,760
$167,734 |
$2,520,370 |
| 3 |
$4,414,004 |
$1,593,512
$176,119 |
$2,644,373 |
| 4 |
$4,634,784 |
$1,675,200
$184,928 |
$2,774,656 |
| 5 |
$4,866,470 |
$1,760,924
$194,172 |
$2,911,374 |
| 6 |
$5,109,860 |
$1,850,979
$203,883 |
$3,054,998 |
| 7 |
$5,365,220 |
$1,945,462
$214,072 |
$3,205,686 |
| 8 |
$5,633,614 |
$2,044,768
$224,781 |
$3,364,065 |
| 9 |
$5,915,308 |
$2,148,994
$236,021 |
$3,530,293 |
| 10 |
$6,211,100 |
$2,258,437
$247,823 |
$3,704,840 |
| 11 |
$6,521,522 |
$2,373,294
$260,209 |
$3,888,019 |
| 12 |
$6,847,638 |
$2,493,956
$273,221 |
$4,080,461 |
| 13 |
$7,189,980 |
$2,620,623
$286,880 |
$4,282,477 |
| 14 |
$7,549,612 |
$2,753,687
$301,230 |
$4,494,695 |
| 15 |
$7,927,066 |
$2,893,345
$316,290 |
$4,717,431 |
| 16 |
$8,323,406 |
$3,039,991
$332,104 |
$4,951,311 |
| 17 |
$8,739,430 |
$3,193,919
$348,703 |
$5,196,808 |
| 18 |
$9,176,468 |
$3,355,624
$366,141 |
$5,454,703 |
| 19 |
$9,635,318 |
$3,525,398
$384,449 |
$5,725,471 |
| 20 |
$10,117,044 |
$3,703,637
$403,670 |
$6,009,737 |
| 21 |
$10,622,976 |
$3,890,832
$423,857 |
$6,308,287 |
| 22 |
$11,154,178 |
$4,087,376
$445,052 |
$6,621,750 |
| 23 |
$11,711,714 |
$4,293,665
$467,297 |
$6,950,752 |
| 24 |
$12,297,446 |
$4,510,385
$490,668 |
$7,296,393 |
| 25 |
$12,912,172 |
$4,737,834
$515,196 |
$7,659,142 |
| 26 |
$13,558,020 |
$4,976,798
$540,965 |
$8,040,257 |
| 27 |
$14,235,788 |
$5,227,572
$568,008 |
$8,440,208 |
| 28 |
$14,947,604 |
$5,490,944
$596,409 |
$8,860,251 |
| 29 |
$15,695,064 |
$5,767,504
$626,233 |
$9,301,327 |
| 30 |
$16,479,764 |
$6,057,843
$657,543 |
$9,764,378 |
|
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