The jackpot for the MEGA Millions draw on Fri Jul 17, 2026, is projected to be $672 Million, with an option for a cash payout of $293.3 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 those living in Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas MEGA Millions Jackpot/Cash Option for Fri Jul 17, 2026 |
|---|
| Draw Date | Fri Jul 17, 2026 | | Projected Jackpot | $672,000,000 | | Cash Value | $293,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $293,300,000 | | Federal Tax(24%) | $70,392,000 | | Additional Federal Tax | $38,089,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $184,818,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,114,272 |
$3,702,611
$0 |
$6,411,661 |
| 2 |
$10,620,288 |
$3,889,837
$0 |
$6,730,451 |
| 3 |
$11,151,168 |
$4,086,263
$0 |
$7,064,905 |
| 4 |
$11,708,928 |
$4,292,634
$0 |
$7,416,294 |
| 5 |
$12,294,240 |
$4,509,199
$0 |
$7,785,041 |
| 6 |
$12,909,120 |
$4,736,705
$0 |
$8,172,415 |
| 7 |
$13,554,240 |
$4,975,399
$0 |
$8,578,841 |
| 8 |
$14,232,288 |
$5,226,277
$0 |
$9,006,011 |
| 9 |
$14,943,936 |
$5,489,587
$0 |
$9,454,349 |
| 10 |
$15,691,200 |
$5,766,074
$0 |
$9,925,126 |
| 11 |
$16,475,424 |
$6,056,237
$0 |
$10,419,187 |
| 12 |
$17,299,296 |
$6,361,070
$0 |
$10,938,226 |
| 13 |
$18,164,160 |
$6,681,070
$0 |
$11,483,090 |
| 14 |
$19,072,704 |
$7,017,231
$0 |
$12,055,473 |
| 15 |
$20,026,272 |
$7,370,051
$0 |
$12,656,221 |
| 16 |
$21,027,552 |
$7,740,525
$0 |
$13,287,027 |
| 17 |
$22,078,560 |
$8,129,398
$0 |
$13,949,162 |
| 18 |
$23,182,656 |
$8,537,913
$0 |
$14,644,743 |
| 19 |
$24,341,856 |
$8,966,817
$0 |
$15,375,039 |
| 20 |
$25,558,848 |
$9,417,104
$0 |
$16,141,744 |
| 21 |
$26,836,992 |
$9,890,017
$0 |
$16,946,975 |
| 22 |
$28,178,976 |
$10,386,552
$0 |
$17,792,424 |
| 23 |
$29,587,488 |
$10,907,701
$0 |
$18,679,787 |
| 24 |
$31,067,232 |
$11,455,206
$0 |
$19,612,026 |
| 25 |
$32,620,224 |
$12,029,813
$0 |
$20,590,411 |
| 26 |
$34,251,840 |
$12,633,511
$0 |
$21,618,329 |
| 27 |
$35,964,096 |
$13,267,046
$0 |
$22,697,050 |
| 28 |
$37,762,368 |
$13,932,407
$0 |
$23,829,961 |
| 29 |
$39,650,688 |
$14,631,085
$0 |
$25,019,603 |
| 30 |
$41,633,088 |
$15,364,573
$0 |
$26,268,515 |
|
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