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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland 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(8.95%) | $10,811,600 | | Net Lumpsum Payment | $65,332,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$358,319 |
$2,203,597 |
| 2 |
$4,203,864 |
$1,515,760
$376,246 |
$2,311,858 |
| 3 |
$4,414,004 |
$1,593,512
$395,053 |
$2,425,439 |
| 4 |
$4,634,784 |
$1,675,200
$414,813 |
$2,544,771 |
| 5 |
$4,866,470 |
$1,760,924
$435,549 |
$2,669,997 |
| 6 |
$5,109,860 |
$1,850,979
$457,332 |
$2,801,549 |
| 7 |
$5,365,220 |
$1,945,462
$480,187 |
$2,939,571 |
| 8 |
$5,633,614 |
$2,044,768
$504,208 |
$3,084,638 |
| 9 |
$5,915,308 |
$2,148,994
$529,420 |
$3,236,894 |
| 10 |
$6,211,100 |
$2,258,437
$555,893 |
$3,396,770 |
| 11 |
$6,521,522 |
$2,373,294
$583,676 |
$3,564,552 |
| 12 |
$6,847,638 |
$2,493,956
$612,864 |
$3,740,818 |
| 13 |
$7,189,980 |
$2,620,623
$643,503 |
$3,925,854 |
| 14 |
$7,549,612 |
$2,753,687
$675,690 |
$4,120,235 |
| 15 |
$7,927,066 |
$2,893,345
$709,472 |
$4,324,249 |
| 16 |
$8,323,406 |
$3,039,991
$744,945 |
$4,538,470 |
| 17 |
$8,739,430 |
$3,193,919
$782,179 |
$4,763,332 |
| 18 |
$9,176,468 |
$3,355,624
$821,294 |
$4,999,550 |
| 19 |
$9,635,318 |
$3,525,398
$862,361 |
$5,247,559 |
| 20 |
$10,117,044 |
$3,703,637
$905,475 |
$5,507,932 |
| 21 |
$10,622,976 |
$3,890,832
$950,756 |
$5,781,388 |
| 22 |
$11,154,178 |
$4,087,376
$998,299 |
$6,068,503 |
| 23 |
$11,711,714 |
$4,293,665
$1,048,198 |
$6,369,851 |
| 24 |
$12,297,446 |
$4,510,385
$1,100,621 |
$6,686,440 |
| 25 |
$12,912,172 |
$4,737,834
$1,155,639 |
$7,018,699 |
| 26 |
$13,558,020 |
$4,976,798
$1,213,443 |
$7,367,779 |
| 27 |
$14,235,788 |
$5,227,572
$1,274,103 |
$7,734,113 |
| 28 |
$14,947,604 |
$5,490,944
$1,337,811 |
$8,118,849 |
| 29 |
$15,695,064 |
$5,767,504
$1,404,708 |
$8,522,852 |
| 30 |
$16,479,764 |
$6,057,843
$1,474,939 |
$8,946,982 |
|
|
