The jackpot for the MEGA Millions draw on Tue Jul 7, 2026, is projected to be $576 Million, with an option for a cash payout of $253.9 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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.
| South Dakota MEGA Millions Jackpot/Cash Option for Tue Jul 7, 2026 |
|---|
| Draw Date | Tue Jul 7, 2026 | | Projected Jackpot | $576,000,000 | | Cash Value | $253,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $253,900,000 | | Federal Tax(24%) | $60,936,000 | | Additional Federal Tax | $32,967,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $159,996,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,669,376 |
$3,168,000
$0 |
$5,501,376 |
| 2 |
$9,103,104 |
$3,328,479
$0 |
$5,774,625 |
| 3 |
$9,558,144 |
$3,496,844
$0 |
$6,061,300 |
| 4 |
$10,036,224 |
$3,673,733
$0 |
$6,362,491 |
| 5 |
$10,537,920 |
$3,859,361
$0 |
$6,678,559 |
| 6 |
$11,064,960 |
$4,054,366
$0 |
$7,010,594 |
| 7 |
$11,617,920 |
$4,258,961
$0 |
$7,358,959 |
| 8 |
$12,199,104 |
$4,473,999
$0 |
$7,725,105 |
| 9 |
$12,809,088 |
$4,699,693
$0 |
$8,109,395 |
| 10 |
$13,449,600 |
$4,936,682
$0 |
$8,512,918 |
| 11 |
$14,121,792 |
$5,185,393
$0 |
$8,936,399 |
| 12 |
$14,827,968 |
$5,446,679
$0 |
$9,381,289 |
| 13 |
$15,569,280 |
$5,720,964
$0 |
$9,848,316 |
| 14 |
$16,348,032 |
$6,009,102
$0 |
$10,338,930 |
| 15 |
$17,165,376 |
$6,311,520
$0 |
$10,853,856 |
| 16 |
$18,023,616 |
$6,629,068
$0 |
$11,394,548 |
| 17 |
$18,924,480 |
$6,962,388
$0 |
$11,962,092 |
| 18 |
$19,870,848 |
$7,312,544
$0 |
$12,558,304 |
| 19 |
$20,864,448 |
$7,680,176
$0 |
$13,184,272 |
| 20 |
$21,907,584 |
$8,066,136
$0 |
$13,841,448 |
| 21 |
$23,003,136 |
$8,471,491
$0 |
$14,531,645 |
| 22 |
$24,153,408 |
$8,897,091
$0 |
$15,256,317 |
| 23 |
$25,360,704 |
$9,343,791
$0 |
$16,016,913 |
| 24 |
$26,629,056 |
$9,813,081
$0 |
$16,815,975 |
| 25 |
$27,960,192 |
$10,305,601
$0 |
$17,654,591 |
| 26 |
$29,358,720 |
$10,823,057
$0 |
$18,535,663 |
| 27 |
$30,826,368 |
$11,366,087
$0 |
$19,460,281 |
| 28 |
$32,367,744 |
$11,936,396
$0 |
$20,431,348 |
| 29 |
$33,986,304 |
$12,535,263
$0 |
$21,451,041 |
| 30 |
$35,685,504 |
$13,163,967
$0 |
$22,521,537 |
|
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