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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island 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(5.99%) | $19,371,660 | | Net Lumpsum Payment | $184,410,010 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$669,855 |
$6,415,037 |
| 2 |
$11,742,372 |
$4,305,008
$703,368 |
$6,733,996 |
| 3 |
$12,329,342 |
$4,522,187
$738,528 |
$7,068,627 |
| 4 |
$12,946,032 |
$4,750,362
$775,467 |
$7,420,203 |
| 5 |
$13,593,185 |
$4,989,809
$814,232 |
$7,789,144 |
| 6 |
$14,273,030 |
$5,241,351
$854,954 |
$8,176,725 |
| 7 |
$14,986,310 |
$5,505,265
$897,680 |
$8,583,365 |
| 8 |
$15,735,997 |
$5,782,649
$942,586 |
$9,010,762 |
| 9 |
$16,522,834 |
$6,073,779
$989,718 |
$9,459,337 |
| 10 |
$17,349,050 |
$6,379,479
$1,039,208 |
$9,930,363 |
| 11 |
$18,216,131 |
$6,700,299
$1,091,146 |
$10,424,686 |
| 12 |
$19,127,049 |
$7,037,339
$1,145,710 |
$10,944,000 |
| 13 |
$20,083,290 |
$7,391,148
$1,202,989 |
$11,489,153 |
| 14 |
$21,087,826 |
$7,762,826
$1,263,161 |
$12,061,839 |
| 15 |
$22,142,143 |
$8,152,923
$1,326,314 |
$12,662,906 |
| 16 |
$23,249,213 |
$8,562,539
$1,392,628 |
$13,294,046 |
| 17 |
$24,411,265 |
$8,992,498
$1,462,235 |
$13,956,532 |
| 18 |
$25,632,014 |
$9,444,176
$1,535,358 |
$14,652,480 |
| 19 |
$26,913,689 |
$9,918,395
$1,612,130 |
$15,383,164 |
| 20 |
$28,259,262 |
$10,416,257
$1,692,730 |
$16,150,275 |
| 21 |
$29,672,448 |
$10,939,136
$1,777,380 |
$16,955,932 |
| 22 |
$31,156,219 |
$11,488,131
$1,866,258 |
$17,801,830 |
| 23 |
$32,713,547 |
$12,064,343
$1,959,541 |
$18,689,663 |
| 24 |
$34,349,633 |
$12,669,695
$2,057,543 |
$19,622,395 |
| 25 |
$36,066,706 |
$13,305,012
$2,160,396 |
$20,601,298 |
| 26 |
$37,870,710 |
$13,972,493
$2,268,456 |
$21,629,761 |
| 27 |
$39,763,874 |
$14,672,964
$2,381,856 |
$22,709,054 |
| 28 |
$41,752,142 |
$15,408,623
$2,500,953 |
$23,842,566 |
| 29 |
$43,839,972 |
$16,181,120
$2,626,014 |
$25,032,838 |
| 30 |
$46,031,822 |
$16,992,105
$2,757,306 |
$26,282,411 |
|
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