The jackpot for the MEGA Millions draw on Tue Jul 21, 2026, is projected to be $707 Million, with an option for a cash payout of $307.7 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 21, 2026 |
|---|
| Draw Date | Tue Jul 21, 2026 | | Projected Jackpot | $707,000,000 | | Cash Value | $307,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $307,700,000 | | Federal Tax(24%) | $73,848,000 | | Additional Federal Tax | $39,961,330 | | State Tax(5.99%) | $18,431,230 | | Net Lumpsum Payment | $175,459,440 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,641,057 |
$3,897,521
$637,399 |
$6,106,137 |
| 2 |
$11,173,428 |
$4,094,499
$669,288 |
$6,409,641 |
| 3 |
$11,731,958 |
$4,301,155
$702,744 |
$6,728,059 |
| 4 |
$12,318,768 |
$4,518,275
$737,894 |
$7,062,599 |
| 5 |
$12,934,565 |
$4,746,119
$774,780 |
$7,413,666 |
| 6 |
$13,581,470 |
$4,985,474
$813,530 |
$7,782,466 |
| 7 |
$14,260,190 |
$5,236,601
$854,185 |
$8,169,404 |
| 8 |
$14,973,553 |
$5,500,545
$896,916 |
$8,576,092 |
| 9 |
$15,722,266 |
$5,777,569
$941,764 |
$9,002,933 |
| 10 |
$16,508,450 |
$6,068,457
$988,856 |
$9,451,137 |
| 11 |
$17,333,519 |
$6,373,732
$1,038,278 |
$9,921,509 |
| 12 |
$18,200,301 |
$6,694,442
$1,090,198 |
$10,415,661 |
| 13 |
$19,110,210 |
$7,031,108
$1,144,702 |
$10,934,400 |
| 14 |
$20,066,074 |
$7,384,778
$1,201,958 |
$11,479,338 |
| 15 |
$21,069,307 |
$7,755,974
$1,262,051 |
$12,051,282 |
| 16 |
$22,122,737 |
$8,145,743
$1,325,152 |
$12,651,842 |
| 17 |
$23,228,485 |
$8,554,870
$1,391,386 |
$13,282,229 |
| 18 |
$24,390,086 |
$8,984,662
$1,460,966 |
$13,944,458 |
| 19 |
$25,609,661 |
$9,435,905
$1,534,019 |
$14,639,737 |
| 20 |
$26,890,038 |
$9,909,644
$1,610,713 |
$15,369,681 |
| 21 |
$28,234,752 |
$10,407,189
$1,691,262 |
$16,136,301 |
| 22 |
$29,646,631 |
$10,929,584
$1,775,833 |
$16,941,214 |
| 23 |
$31,128,503 |
$11,477,876
$1,864,597 |
$17,786,030 |
| 24 |
$32,685,317 |
$12,053,898
$1,957,850 |
$18,673,569 |
| 25 |
$34,319,194 |
$12,658,432
$2,055,720 |
$19,605,042 |
| 26 |
$36,035,790 |
$13,293,573
$2,158,544 |
$20,583,673 |
| 27 |
$37,837,226 |
$13,960,104
$2,266,450 |
$21,610,672 |
| 28 |
$39,729,158 |
$14,660,119
$2,379,777 |
$22,689,262 |
| 29 |
$41,715,828 |
$15,395,187
$2,498,778 |
$23,821,863 |
| 30 |
$43,801,478 |
$16,166,877
$2,623,709 |
$25,010,892 |
|
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