The jackpot for the MEGA Millions draw on Fri Jul 3, 2026, is projected to be $542 Million, with an option for a cash payout of $242 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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Fri Jul 3, 2026 |
|---|
| Draw Date | Fri Jul 3, 2026 | | Projected Jackpot | $542,000,000 | | Cash Value | $242,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $242,000,000 | | Federal Tax(24%) | $58,080,000 | | Additional Federal Tax | $31,420,330 | | State Tax(8.95%) | $21,659,000 | | Net Lumpsum Payment | $130,840,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$730,109 |
$4,448,875 |
| 2 |
$8,565,768 |
$3,129,665
$766,636 |
$4,669,467 |
| 3 |
$8,993,948 |
$3,288,091
$804,958 |
$4,900,899 |
| 4 |
$9,443,808 |
$3,454,539
$845,221 |
$5,144,048 |
| 5 |
$9,915,890 |
$3,629,210
$887,472 |
$5,399,208 |
| 6 |
$10,411,820 |
$3,812,704
$931,858 |
$5,667,258 |
| 7 |
$10,932,140 |
$4,005,222
$978,427 |
$5,948,491 |
| 8 |
$11,479,018 |
$4,207,567
$1,027,372 |
$6,244,079 |
| 9 |
$12,052,996 |
$4,419,939
$1,078,743 |
$6,554,314 |
| 10 |
$12,655,700 |
$4,642,939
$1,132,685 |
$6,880,076 |
| 11 |
$13,288,214 |
$4,876,970
$1,189,295 |
$7,221,949 |
| 12 |
$13,952,706 |
$5,122,832
$1,248,767 |
$7,581,107 |
| 13 |
$14,650,260 |
$5,380,927
$1,311,198 |
$7,958,135 |
| 14 |
$15,383,044 |
$5,652,057
$1,376,782 |
$8,354,205 |
| 15 |
$16,152,142 |
$5,936,623
$1,445,617 |
$8,769,902 |
| 16 |
$16,959,722 |
$6,235,428
$1,517,895 |
$9,206,399 |
| 17 |
$17,807,410 |
$6,549,072
$1,593,763 |
$9,664,575 |
| 18 |
$18,697,916 |
$6,878,559
$1,673,463 |
$10,145,894 |
| 19 |
$19,632,866 |
$7,224,491
$1,757,142 |
$10,651,233 |
| 20 |
$20,614,428 |
$7,587,669
$1,844,991 |
$11,181,768 |
| 21 |
$21,645,312 |
$7,969,096
$1,937,255 |
$11,738,961 |
| 22 |
$22,727,686 |
$8,369,574
$2,034,128 |
$12,323,984 |
| 23 |
$23,863,718 |
$8,789,906
$2,135,803 |
$12,938,009 |
| 24 |
$25,057,202 |
$9,231,495
$2,242,620 |
$13,583,087 |
| 25 |
$26,309,764 |
$9,694,943
$2,354,724 |
$14,260,097 |
| 26 |
$27,625,740 |
$10,181,854
$2,472,504 |
$14,971,382 |
| 27 |
$29,006,756 |
$10,692,830
$2,596,105 |
$15,717,821 |
| 28 |
$30,457,148 |
$11,229,475
$2,725,915 |
$16,501,758 |
| 29 |
$31,980,168 |
$11,792,993
$2,862,225 |
$17,324,950 |
| 30 |
$33,579,068 |
$12,384,586
$3,005,327 |
$18,189,155 |
|
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