The jackpot for the MEGA Millions draw on Fri Jun 5, 2026, is projected to be $368 Million, with an option for a cash payout of $163.6 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 Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas MEGA Millions Jackpot/Cash Option for Fri Jun 5, 2026 |
|---|
| Draw Date | Fri Jun 5, 2026 | | Projected Jackpot | $368,000,000 | | Cash Value | $163,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $163,600,000 | | Federal Tax(24%) | $39,264,000 | | Additional Federal Tax | $21,228,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $103,107,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,538,768 |
$2,009,675
$0 |
$3,529,093 |
| 2 |
$5,815,872 |
$2,112,203
$0 |
$3,703,669 |
| 3 |
$6,106,592 |
$2,219,769
$0 |
$3,886,823 |
| 4 |
$6,412,032 |
$2,332,782
$0 |
$4,079,250 |
| 5 |
$6,732,560 |
$2,451,378
$0 |
$4,281,182 |
| 6 |
$7,069,280 |
$2,575,964
$0 |
$4,493,316 |
| 7 |
$7,422,560 |
$2,706,678
$0 |
$4,715,882 |
| 8 |
$7,793,872 |
$2,844,063
$0 |
$4,949,809 |
| 9 |
$8,183,584 |
$2,988,256
$0 |
$5,195,328 |
| 10 |
$8,592,800 |
$3,139,666
$0 |
$5,453,134 |
| 11 |
$9,022,256 |
$3,298,565
$0 |
$5,723,691 |
| 12 |
$9,473,424 |
$3,465,497
$0 |
$6,007,927 |
| 13 |
$9,947,040 |
$3,640,735
$0 |
$6,306,305 |
| 14 |
$10,444,576 |
$3,824,824
$0 |
$6,619,752 |
| 15 |
$10,966,768 |
$4,018,035
$0 |
$6,948,733 |
| 16 |
$11,515,088 |
$4,220,913
$0 |
$7,294,175 |
| 17 |
$12,090,640 |
$4,433,867
$0 |
$7,656,773 |
| 18 |
$12,695,264 |
$4,657,578
$0 |
$8,037,686 |
| 19 |
$13,330,064 |
$4,892,454
$0 |
$8,437,610 |
| 20 |
$13,996,512 |
$5,139,040
$0 |
$8,857,472 |
| 21 |
$14,696,448 |
$5,398,016
$0 |
$9,298,432 |
| 22 |
$15,431,344 |
$5,669,928
$0 |
$9,761,416 |
| 23 |
$16,202,672 |
$5,955,319
$0 |
$10,247,353 |
| 24 |
$17,013,008 |
$6,255,143
$0 |
$10,757,865 |
| 25 |
$17,863,456 |
$6,569,809
$0 |
$11,293,647 |
| 26 |
$18,756,960 |
$6,900,406
$0 |
$11,856,554 |
| 27 |
$19,694,624 |
$7,247,341
$0 |
$12,447,283 |
| 28 |
$20,679,392 |
$7,611,705
$0 |
$13,067,687 |
| 29 |
$21,713,472 |
$7,994,315
$0 |
$13,719,157 |
| 30 |
$22,799,072 |
$8,395,987
$0 |
$14,403,085 |
|
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