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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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(6%) | $18,462,000 | | Net Lumpsum Payment | $175,428,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,641,057 |
$3,897,521
$638,463 |
$6,105,073 |
| 2 |
$11,173,428 |
$4,094,499
$670,406 |
$6,408,523 |
| 3 |
$11,731,958 |
$4,301,155
$703,917 |
$6,726,886 |
| 4 |
$12,318,768 |
$4,518,275
$739,126 |
$7,061,367 |
| 5 |
$12,934,565 |
$4,746,119
$776,074 |
$7,412,372 |
| 6 |
$13,581,470 |
$4,985,474
$814,888 |
$7,781,108 |
| 7 |
$14,260,190 |
$5,236,601
$855,611 |
$8,167,978 |
| 8 |
$14,973,553 |
$5,500,545
$898,413 |
$8,574,595 |
| 9 |
$15,722,266 |
$5,777,569
$943,336 |
$9,001,361 |
| 10 |
$16,508,450 |
$6,068,457
$990,507 |
$9,449,486 |
| 11 |
$17,333,519 |
$6,373,732
$1,040,011 |
$9,919,776 |
| 12 |
$18,200,301 |
$6,694,442
$1,092,018 |
$10,413,841 |
| 13 |
$19,110,210 |
$7,031,108
$1,146,613 |
$10,932,489 |
| 14 |
$20,066,074 |
$7,384,778
$1,203,964 |
$11,477,332 |
| 15 |
$21,069,307 |
$7,755,974
$1,264,158 |
$12,049,175 |
| 16 |
$22,122,737 |
$8,145,743
$1,327,364 |
$12,649,630 |
| 17 |
$23,228,485 |
$8,554,870
$1,393,709 |
$13,279,906 |
| 18 |
$24,390,086 |
$8,984,662
$1,463,405 |
$13,942,019 |
| 19 |
$25,609,661 |
$9,435,905
$1,536,580 |
$14,637,176 |
| 20 |
$26,890,038 |
$9,909,644
$1,613,402 |
$15,366,992 |
| 21 |
$28,234,752 |
$10,407,189
$1,694,085 |
$16,133,478 |
| 22 |
$29,646,631 |
$10,929,584
$1,778,798 |
$16,938,249 |
| 23 |
$31,128,503 |
$11,477,876
$1,867,710 |
$17,782,917 |
| 24 |
$32,685,317 |
$12,053,898
$1,961,119 |
$18,670,300 |
| 25 |
$34,319,194 |
$12,658,432
$2,059,152 |
$19,601,610 |
| 26 |
$36,035,790 |
$13,293,573
$2,162,147 |
$20,580,070 |
| 27 |
$37,837,226 |
$13,960,104
$2,270,234 |
$21,606,888 |
| 28 |
$39,729,158 |
$14,660,119
$2,383,749 |
$22,685,290 |
| 29 |
$41,715,828 |
$15,395,187
$2,502,950 |
$23,817,691 |
| 30 |
$43,801,478 |
$16,166,877
$2,628,089 |
$25,006,512 |
|
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