California Lottery

CALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 7, 2026 is estimated to be $576 Million, with a cash option of 253.9 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of California, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

California MEGA Millions Jackpot/Cash Option for Tue Jul 7, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 7, 2026	$576,000,000	$253,900,000

Lumpsum Option Taxes and Payment

Category	Amount
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

Year	Gross Payment	Fed/State Tax	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