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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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(6%) | $15,234,000 | | Net Lumpsum Payment | $144,762,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,669,376 |
$3,168,000
$520,163 |
$4,981,213 |
| 2 |
$9,103,104 |
$3,328,479
$546,186 |
$5,228,439 |
| 3 |
$9,558,144 |
$3,496,844
$573,489 |
$5,487,811 |
| 4 |
$10,036,224 |
$3,673,733
$602,173 |
$5,760,318 |
| 5 |
$10,537,920 |
$3,859,361
$632,275 |
$6,046,284 |
| 6 |
$11,064,960 |
$4,054,366
$663,898 |
$6,346,696 |
| 7 |
$11,617,920 |
$4,258,961
$697,075 |
$6,661,884 |
| 8 |
$12,199,104 |
$4,473,999
$731,946 |
$6,993,159 |
| 9 |
$12,809,088 |
$4,699,693
$768,545 |
$7,340,850 |
| 10 |
$13,449,600 |
$4,936,682
$806,976 |
$7,705,942 |
| 11 |
$14,121,792 |
$5,185,393
$847,308 |
$8,089,091 |
| 12 |
$14,827,968 |
$5,446,679
$889,678 |
$8,491,611 |
| 13 |
$15,569,280 |
$5,720,964
$934,157 |
$8,914,159 |
| 14 |
$16,348,032 |
$6,009,102
$980,882 |
$9,358,048 |
| 15 |
$17,165,376 |
$6,311,520
$1,029,923 |
$9,823,933 |
| 16 |
$18,023,616 |
$6,629,068
$1,081,417 |
$10,313,131 |
| 17 |
$18,924,480 |
$6,962,388
$1,135,469 |
$10,826,623 |
| 18 |
$19,870,848 |
$7,312,544
$1,192,251 |
$11,366,053 |
| 19 |
$20,864,448 |
$7,680,176
$1,251,867 |
$11,932,405 |
| 20 |
$21,907,584 |
$8,066,136
$1,314,455 |
$12,526,993 |
| 21 |
$23,003,136 |
$8,471,491
$1,380,188 |
$13,151,457 |
| 22 |
$24,153,408 |
$8,897,091
$1,449,204 |
$13,807,113 |
| 23 |
$25,360,704 |
$9,343,791
$1,521,642 |
$14,495,271 |
| 24 |
$26,629,056 |
$9,813,081
$1,597,743 |
$15,218,232 |
| 25 |
$27,960,192 |
$10,305,601
$1,677,612 |
$15,976,979 |
| 26 |
$29,358,720 |
$10,823,057
$1,761,523 |
$16,774,140 |
| 27 |
$30,826,368 |
$11,366,087
$1,849,582 |
$17,610,699 |
| 28 |
$32,367,744 |
$11,936,396
$1,942,065 |
$18,489,283 |
| 29 |
$33,986,304 |
$12,535,263
$2,039,178 |
$19,411,863 |
| 30 |
$35,685,504 |
$13,163,967
$2,141,130 |
$20,380,407 |
|
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