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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho 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(5.8%) | $7,006,400 | | Net Lumpsum Payment | $69,137,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$232,207 |
$2,329,709 |
| 2 |
$4,203,864 |
$1,515,760
$243,824 |
$2,444,280 |
| 3 |
$4,414,004 |
$1,593,512
$256,012 |
$2,564,480 |
| 4 |
$4,634,784 |
$1,675,200
$268,817 |
$2,690,767 |
| 5 |
$4,866,470 |
$1,760,924
$282,255 |
$2,823,291 |
| 6 |
$5,109,860 |
$1,850,979
$296,372 |
$2,962,509 |
| 7 |
$5,365,220 |
$1,945,462
$311,183 |
$3,108,575 |
| 8 |
$5,633,614 |
$2,044,768
$326,750 |
$3,262,096 |
| 9 |
$5,915,308 |
$2,148,994
$343,088 |
$3,423,226 |
| 10 |
$6,211,100 |
$2,258,437
$360,244 |
$3,592,419 |
| 11 |
$6,521,522 |
$2,373,294
$378,248 |
$3,769,980 |
| 12 |
$6,847,638 |
$2,493,956
$397,163 |
$3,956,519 |
| 13 |
$7,189,980 |
$2,620,623
$417,019 |
$4,152,338 |
| 14 |
$7,549,612 |
$2,753,687
$437,877 |
$4,358,048 |
| 15 |
$7,927,066 |
$2,893,345
$459,770 |
$4,573,951 |
| 16 |
$8,323,406 |
$3,039,991
$482,758 |
$4,800,657 |
| 17 |
$8,739,430 |
$3,193,919
$506,887 |
$5,038,624 |
| 18 |
$9,176,468 |
$3,355,624
$532,235 |
$5,288,609 |
| 19 |
$9,635,318 |
$3,525,398
$558,848 |
$5,551,072 |
| 20 |
$10,117,044 |
$3,703,637
$586,789 |
$5,826,618 |
| 21 |
$10,622,976 |
$3,890,832
$616,133 |
$6,116,011 |
| 22 |
$11,154,178 |
$4,087,376
$646,942 |
$6,419,860 |
| 23 |
$11,711,714 |
$4,293,665
$679,279 |
$6,738,770 |
| 24 |
$12,297,446 |
$4,510,385
$713,252 |
$7,073,809 |
| 25 |
$12,912,172 |
$4,737,834
$748,906 |
$7,425,432 |
| 26 |
$13,558,020 |
$4,976,798
$786,365 |
$7,794,857 |
| 27 |
$14,235,788 |
$5,227,572
$825,676 |
$8,182,540 |
| 28 |
$14,947,604 |
$5,490,944
$866,961 |
$8,589,699 |
| 29 |
$15,695,064 |
$5,767,504
$910,314 |
$9,017,246 |
| 30 |
$16,479,764 |
$6,057,843
$955,826 |
$9,466,095 |
|
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