The jackpot for the MEGA Millions draw on Fri Jun 5, 2026, is projected to be $368 Million, with an option for a cash payout of $163.6 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 Jun 5, 2026 |
|---|
| Draw Date | Fri Jun 5, 2026 | | Projected Jackpot | $368,000,000 | | Cash Value | $163,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $163,600,000 | | Federal Tax(24%) | $39,264,000 | | Additional Federal Tax | $21,228,330 | | State Tax(4.25%) | $6,953,000 | | Net Lumpsum Payment | $96,154,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,538,768 |
$2,009,675
$235,398 |
$3,293,695 |
| 2 |
$5,815,872 |
$2,112,203
$247,175 |
$3,456,494 |
| 3 |
$6,106,592 |
$2,219,769
$259,530 |
$3,627,293 |
| 4 |
$6,412,032 |
$2,332,782
$272,511 |
$3,806,739 |
| 5 |
$6,732,560 |
$2,451,378
$286,134 |
$3,995,048 |
| 6 |
$7,069,280 |
$2,575,964
$300,444 |
$4,192,872 |
| 7 |
$7,422,560 |
$2,706,678
$315,459 |
$4,400,423 |
| 8 |
$7,793,872 |
$2,844,063
$331,240 |
$4,618,569 |
| 9 |
$8,183,584 |
$2,988,256
$347,802 |
$4,847,526 |
| 10 |
$8,592,800 |
$3,139,666
$365,194 |
$5,087,940 |
| 11 |
$9,022,256 |
$3,298,565
$383,446 |
$5,340,245 |
| 12 |
$9,473,424 |
$3,465,497
$402,621 |
$5,605,306 |
| 13 |
$9,947,040 |
$3,640,735
$422,749 |
$5,883,556 |
| 14 |
$10,444,576 |
$3,824,824
$443,894 |
$6,175,858 |
| 15 |
$10,966,768 |
$4,018,035
$466,088 |
$6,482,645 |
| 16 |
$11,515,088 |
$4,220,913
$489,391 |
$6,804,784 |
| 17 |
$12,090,640 |
$4,433,867
$513,852 |
$7,142,921 |
| 18 |
$12,695,264 |
$4,657,578
$539,549 |
$7,498,137 |
| 19 |
$13,330,064 |
$4,892,454
$566,528 |
$7,871,082 |
| 20 |
$13,996,512 |
$5,139,040
$594,852 |
$8,262,620 |
| 21 |
$14,696,448 |
$5,398,016
$624,599 |
$8,673,833 |
| 22 |
$15,431,344 |
$5,669,928
$655,832 |
$9,105,584 |
| 23 |
$16,202,672 |
$5,955,319
$688,614 |
$9,558,739 |
| 24 |
$17,013,008 |
$6,255,143
$723,053 |
$10,034,812 |
| 25 |
$17,863,456 |
$6,569,809
$759,197 |
$10,534,450 |
| 26 |
$18,756,960 |
$6,900,406
$797,171 |
$11,059,383 |
| 27 |
$19,694,624 |
$7,247,341
$837,022 |
$11,610,261 |
| 28 |
$20,679,392 |
$7,611,705
$878,874 |
$12,188,813 |
| 29 |
$21,713,472 |
$7,994,315
$922,823 |
$12,796,334 |
| 30 |
$22,799,072 |
$8,395,987
$968,961 |
$13,434,124 |
|
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