The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado MEGA Millions Jackpot/Cash Option for Fri Jul 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(4%) | $12,936,000 | | Net Lumpsum Payment | $190,845,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$447,316 |
$6,637,576 |
| 2 |
$11,742,372 |
$4,305,008
$469,695 |
$6,967,669 |
| 3 |
$12,329,342 |
$4,522,187
$493,174 |
$7,313,981 |
| 4 |
$12,946,032 |
$4,750,362
$517,841 |
$7,677,829 |
| 5 |
$13,593,185 |
$4,989,809
$543,727 |
$8,059,649 |
| 6 |
$14,273,030 |
$5,241,351
$570,921 |
$8,460,758 |
| 7 |
$14,986,310 |
$5,505,265
$599,452 |
$8,881,593 |
| 8 |
$15,735,997 |
$5,782,649
$629,440 |
$9,323,908 |
| 9 |
$16,522,834 |
$6,073,779
$660,913 |
$9,788,142 |
| 10 |
$17,349,050 |
$6,379,479
$693,962 |
$10,275,609 |
| 11 |
$18,216,131 |
$6,700,299
$728,645 |
$10,787,187 |
| 12 |
$19,127,049 |
$7,037,339
$765,082 |
$11,324,628 |
| 13 |
$20,083,290 |
$7,391,148
$803,332 |
$11,888,810 |
| 14 |
$21,087,826 |
$7,762,826
$843,513 |
$12,481,487 |
| 15 |
$22,142,143 |
$8,152,923
$885,686 |
$13,103,534 |
| 16 |
$23,249,213 |
$8,562,539
$929,969 |
$13,756,705 |
| 17 |
$24,411,265 |
$8,992,498
$976,451 |
$14,442,316 |
| 18 |
$25,632,014 |
$9,444,176
$1,025,281 |
$15,162,557 |
| 19 |
$26,913,689 |
$9,918,395
$1,076,548 |
$15,918,746 |
| 20 |
$28,259,262 |
$10,416,257
$1,130,370 |
$16,712,635 |
| 21 |
$29,672,448 |
$10,939,136
$1,186,898 |
$17,546,414 |
| 22 |
$31,156,219 |
$11,488,131
$1,246,249 |
$18,421,839 |
| 23 |
$32,713,547 |
$12,064,343
$1,308,542 |
$19,340,662 |
| 24 |
$34,349,633 |
$12,669,695
$1,373,985 |
$20,305,953 |
| 25 |
$36,066,706 |
$13,305,012
$1,442,668 |
$21,319,026 |
| 26 |
$37,870,710 |
$13,972,493
$1,514,828 |
$22,383,389 |
| 27 |
$39,763,874 |
$14,672,964
$1,590,555 |
$23,500,355 |
| 28 |
$41,752,142 |
$15,408,623
$1,670,086 |
$24,673,433 |
| 29 |
$43,839,972 |
$16,181,120
$1,753,599 |
$25,905,253 |
| 30 |
$46,031,822 |
$16,992,105
$1,841,273 |
$27,198,444 |
|
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