The jackpot for the MEGA Millions draw on Fri May 15, 2026, is projected to be $251 Million, with an option for a cash payout of $112.3 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 May 15, 2026 |
|---|
| Draw Date | Fri May 15, 2026 | | Projected Jackpot | $251,000,000 | | Cash Value | $112,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,300,000 | | Federal Tax(24%) | $26,952,000 | | Additional Federal Tax | $14,559,330 | | State Tax(4.25%) | $4,772,750 | | Net Lumpsum Payment | $66,015,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,777,801 |
$1,358,117
$160,557 |
$2,259,127 |
| 2 |
$3,966,804 |
$1,428,048
$168,589 |
$2,370,167 |
| 3 |
$4,165,094 |
$1,501,415
$177,016 |
$2,486,663 |
| 4 |
$4,373,424 |
$1,578,497
$185,871 |
$2,609,056 |
| 5 |
$4,592,045 |
$1,659,387
$195,162 |
$2,737,496 |
| 6 |
$4,821,710 |
$1,744,363
$204,923 |
$2,872,424 |
| 7 |
$5,062,670 |
$1,833,518
$215,163 |
$3,013,989 |
| 8 |
$5,315,929 |
$1,927,224
$225,927 |
$3,162,778 |
| 9 |
$5,581,738 |
$2,025,573
$237,224 |
$3,318,941 |
| 10 |
$5,860,850 |
$2,128,845
$249,086 |
$3,482,919 |
| 11 |
$6,153,767 |
$2,237,224
$261,535 |
$3,655,008 |
| 12 |
$6,461,493 |
$2,351,083
$274,613 |
$3,835,797 |
| 13 |
$6,784,530 |
$2,470,606
$288,343 |
$4,025,581 |
| 14 |
$7,123,882 |
$2,596,167
$302,765 |
$4,224,950 |
| 15 |
$7,480,051 |
$2,727,949
$317,902 |
$4,434,200 |
| 16 |
$7,854,041 |
$2,866,326
$333,797 |
$4,653,918 |
| 17 |
$8,246,605 |
$3,011,574
$350,481 |
$4,884,550 |
| 18 |
$8,658,998 |
$3,164,160
$368,007 |
$5,126,831 |
| 19 |
$9,091,973 |
$3,324,360
$386,409 |
$5,381,204 |
| 20 |
$9,546,534 |
$3,492,548
$405,728 |
$5,648,258 |
| 21 |
$10,023,936 |
$3,669,187
$426,017 |
$5,928,732 |
| 22 |
$10,525,183 |
$3,854,648
$447,320 |
$6,223,215 |
| 23 |
$11,051,279 |
$4,049,304
$469,679 |
$6,532,296 |
| 24 |
$11,603,981 |
$4,253,803
$493,169 |
$6,857,009 |
| 25 |
$12,184,042 |
$4,468,426
$517,822 |
$7,197,794 |
| 26 |
$12,793,470 |
$4,693,914
$543,722 |
$7,555,834 |
| 27 |
$13,433,018 |
$4,930,547
$570,903 |
$7,931,568 |
| 28 |
$14,104,694 |
$5,179,067
$599,449 |
$8,326,178 |
| 29 |
$14,810,004 |
$5,440,032
$629,425 |
$8,740,547 |
| 30 |
$15,550,454 |
$5,713,998
$660,894 |
$9,175,562 |
|
|
