The jackpot for the MEGA Millions draw on Tue Jul 7, 2026, is projected to be $576 Million, with an option for a cash payout of $253.9 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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island MEGA Millions Jackpot/Cash Option for Tue Jul 7, 2026 |
|---|
| Draw Date | Tue Jul 7, 2026 | | Projected Jackpot | $576,000,000 | | Cash Value | $253,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $253,900,000 | | Federal Tax(24%) | $60,936,000 | | Additional Federal Tax | $32,967,330 | | State Tax(5.99%) | $15,208,610 | | Net Lumpsum Payment | $144,788,060 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,669,376 |
$3,168,000
$519,296 |
$4,982,080 |
| 2 |
$9,103,104 |
$3,328,479
$545,276 |
$5,229,349 |
| 3 |
$9,558,144 |
$3,496,844
$572,533 |
$5,488,767 |
| 4 |
$10,036,224 |
$3,673,733
$601,170 |
$5,761,321 |
| 5 |
$10,537,920 |
$3,859,361
$631,221 |
$6,047,338 |
| 6 |
$11,064,960 |
$4,054,366
$662,791 |
$6,347,803 |
| 7 |
$11,617,920 |
$4,258,961
$695,913 |
$6,663,046 |
| 8 |
$12,199,104 |
$4,473,999
$730,726 |
$6,994,379 |
| 9 |
$12,809,088 |
$4,699,693
$767,264 |
$7,342,131 |
| 10 |
$13,449,600 |
$4,936,682
$805,631 |
$7,707,287 |
| 11 |
$14,121,792 |
$5,185,393
$845,895 |
$8,090,504 |
| 12 |
$14,827,968 |
$5,446,679
$888,195 |
$8,493,094 |
| 13 |
$15,569,280 |
$5,720,964
$932,600 |
$8,915,716 |
| 14 |
$16,348,032 |
$6,009,102
$979,247 |
$9,359,683 |
| 15 |
$17,165,376 |
$6,311,520
$1,028,206 |
$9,825,650 |
| 16 |
$18,023,616 |
$6,629,068
$1,079,615 |
$10,314,933 |
| 17 |
$18,924,480 |
$6,962,388
$1,133,576 |
$10,828,516 |
| 18 |
$19,870,848 |
$7,312,544
$1,190,264 |
$11,368,040 |
| 19 |
$20,864,448 |
$7,680,176
$1,249,780 |
$11,934,492 |
| 20 |
$21,907,584 |
$8,066,136
$1,312,264 |
$12,529,184 |
| 21 |
$23,003,136 |
$8,471,491
$1,377,888 |
$13,153,757 |
| 22 |
$24,153,408 |
$8,897,091
$1,446,789 |
$13,809,528 |
| 23 |
$25,360,704 |
$9,343,791
$1,519,106 |
$14,497,807 |
| 24 |
$26,629,056 |
$9,813,081
$1,595,080 |
$15,220,895 |
| 25 |
$27,960,192 |
$10,305,601
$1,674,816 |
$15,979,775 |
| 26 |
$29,358,720 |
$10,823,057
$1,758,587 |
$16,777,076 |
| 27 |
$30,826,368 |
$11,366,087
$1,846,499 |
$17,613,782 |
| 28 |
$32,367,744 |
$11,936,396
$1,938,828 |
$18,492,520 |
| 29 |
$33,986,304 |
$12,535,263
$2,035,780 |
$19,415,261 |
| 30 |
$35,685,504 |
$13,163,967
$2,137,562 |
$20,383,975 |
|
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