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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island 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(5.99%) | $14,495,800 | | Net Lumpsum Payment | $138,003,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$488,643 |
$4,690,341 |
| 2 |
$8,565,768 |
$3,129,665
$513,090 |
$4,923,013 |
| 3 |
$8,993,948 |
$3,288,091
$538,737 |
$5,167,120 |
| 4 |
$9,443,808 |
$3,454,539
$565,684 |
$5,423,585 |
| 5 |
$9,915,890 |
$3,629,210
$593,962 |
$5,692,718 |
| 6 |
$10,411,820 |
$3,812,704
$623,668 |
$5,975,448 |
| 7 |
$10,932,140 |
$4,005,222
$654,835 |
$6,272,083 |
| 8 |
$11,479,018 |
$4,207,567
$687,593 |
$6,583,858 |
| 9 |
$12,052,996 |
$4,419,939
$721,974 |
$6,911,083 |
| 10 |
$12,655,700 |
$4,642,939
$758,076 |
$7,254,685 |
| 11 |
$13,288,214 |
$4,876,970
$795,964 |
$7,615,280 |
| 12 |
$13,952,706 |
$5,122,832
$835,767 |
$7,994,107 |
| 13 |
$14,650,260 |
$5,380,927
$877,551 |
$8,391,782 |
| 14 |
$15,383,044 |
$5,652,057
$921,444 |
$8,809,543 |
| 15 |
$16,152,142 |
$5,936,623
$967,513 |
$9,248,006 |
| 16 |
$16,959,722 |
$6,235,428
$1,015,887 |
$9,708,407 |
| 17 |
$17,807,410 |
$6,549,072
$1,066,664 |
$10,191,674 |
| 18 |
$18,697,916 |
$6,878,559
$1,120,005 |
$10,699,352 |
| 19 |
$19,632,866 |
$7,224,491
$1,176,009 |
$11,232,366 |
| 20 |
$20,614,428 |
$7,587,669
$1,234,804 |
$11,791,955 |
| 21 |
$21,645,312 |
$7,969,096
$1,296,554 |
$12,379,662 |
| 22 |
$22,727,686 |
$8,369,574
$1,361,388 |
$12,996,724 |
| 23 |
$23,863,718 |
$8,789,906
$1,429,437 |
$13,644,375 |
| 24 |
$25,057,202 |
$9,231,495
$1,500,926 |
$14,324,781 |
| 25 |
$26,309,764 |
$9,694,943
$1,575,955 |
$15,038,866 |
| 26 |
$27,625,740 |
$10,181,854
$1,654,782 |
$15,789,104 |
| 27 |
$29,006,756 |
$10,692,830
$1,737,505 |
$16,576,421 |
| 28 |
$30,457,148 |
$11,229,475
$1,824,383 |
$17,403,290 |
| 29 |
$31,980,168 |
$11,792,993
$1,915,612 |
$18,271,563 |
| 30 |
$33,579,068 |
$12,384,586
$2,011,386 |
$19,183,096 |
|
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