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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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(6%) | $14,520,000 | | Net Lumpsum Payment | $137,979,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$489,459 |
$4,689,525 |
| 2 |
$8,565,768 |
$3,129,665
$513,946 |
$4,922,157 |
| 3 |
$8,993,948 |
$3,288,091
$539,637 |
$5,166,220 |
| 4 |
$9,443,808 |
$3,454,539
$566,628 |
$5,422,641 |
| 5 |
$9,915,890 |
$3,629,210
$594,953 |
$5,691,727 |
| 6 |
$10,411,820 |
$3,812,704
$624,709 |
$5,974,407 |
| 7 |
$10,932,140 |
$4,005,222
$655,928 |
$6,270,990 |
| 8 |
$11,479,018 |
$4,207,567
$688,741 |
$6,582,710 |
| 9 |
$12,052,996 |
$4,419,939
$723,180 |
$6,909,877 |
| 10 |
$12,655,700 |
$4,642,939
$759,342 |
$7,253,419 |
| 11 |
$13,288,214 |
$4,876,970
$797,293 |
$7,613,951 |
| 12 |
$13,952,706 |
$5,122,832
$837,162 |
$7,992,712 |
| 13 |
$14,650,260 |
$5,380,927
$879,016 |
$8,390,317 |
| 14 |
$15,383,044 |
$5,652,057
$922,983 |
$8,808,004 |
| 15 |
$16,152,142 |
$5,936,623
$969,129 |
$9,246,390 |
| 16 |
$16,959,722 |
$6,235,428
$1,017,583 |
$9,706,711 |
| 17 |
$17,807,410 |
$6,549,072
$1,068,445 |
$10,189,893 |
| 18 |
$18,697,916 |
$6,878,559
$1,121,875 |
$10,697,482 |
| 19 |
$19,632,866 |
$7,224,491
$1,177,972 |
$11,230,403 |
| 20 |
$20,614,428 |
$7,587,669
$1,236,866 |
$11,789,893 |
| 21 |
$21,645,312 |
$7,969,096
$1,298,719 |
$12,377,497 |
| 22 |
$22,727,686 |
$8,369,574
$1,363,661 |
$12,994,451 |
| 23 |
$23,863,718 |
$8,789,906
$1,431,823 |
$13,641,989 |
| 24 |
$25,057,202 |
$9,231,495
$1,503,432 |
$14,322,275 |
| 25 |
$26,309,764 |
$9,694,943
$1,578,586 |
$15,036,235 |
| 26 |
$27,625,740 |
$10,181,854
$1,657,544 |
$15,786,342 |
| 27 |
$29,006,756 |
$10,692,830
$1,740,405 |
$16,573,521 |
| 28 |
$30,457,148 |
$11,229,475
$1,827,429 |
$17,400,244 |
| 29 |
$31,980,168 |
$11,792,993
$1,918,810 |
$18,268,365 |
| 30 |
$33,579,068 |
$12,384,586
$2,014,744 |
$19,179,738 |
|
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