Colorado Lottery

COLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jul 24, 2026 is estimated to be $743 Million, with a cash option of 323.4 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. Additionally, if you are a resident of Colorado, your state will take 4% of 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.

Colorado MEGA Millions Jackpot/Cash Option for Fri Jul 24, 2026

Draw Date	Jackpot	Cash Option
Fri Jul 24, 2026	$743,000,000	$323,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$323,400,000
Federal Tax(24%)	$77,616,000
Additional Federal Tax	$42,002,330
State Tax(4%)	$12,936,000
Net Lumpsum Payment	$190,845,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,182,893	-$4,098,001 -$447,316	$6,637,576
2	$11,742,372	-$4,305,008 -$469,695	$6,967,669
3	$12,329,342	-$4,522,187 -$493,174	$7,313,981
4	$12,946,032	-$4,750,362 -$517,841	$7,677,829
5	$13,593,185	-$4,989,809 -$543,727	$8,059,649
6	$14,273,030	-$5,241,351 -$570,921	$8,460,758
7	$14,986,310	-$5,505,265 -$599,452	$8,881,593
8	$15,735,997	-$5,782,649 -$629,440	$9,323,908
9	$16,522,834	-$6,073,779 -$660,913	$9,788,142
10	$17,349,050	-$6,379,479 -$693,962	$10,275,609
11	$18,216,131	-$6,700,299 -$728,645	$10,787,187
12	$19,127,049	-$7,037,339 -$765,082	$11,324,628
13	$20,083,290	-$7,391,148 -$803,332	$11,888,810
14	$21,087,826	-$7,762,826 -$843,513	$12,481,487
15	$22,142,143	-$8,152,923 -$885,686	$13,103,534
16	$23,249,213	-$8,562,539 -$929,969	$13,756,705
17	$24,411,265	-$8,992,498 -$976,451	$14,442,316
18	$25,632,014	-$9,444,176 -$1,025,281	$15,162,557
19	$26,913,689	-$9,918,395 -$1,076,548	$15,918,746
20	$28,259,262	-$10,416,257 -$1,130,370	$16,712,635
21	$29,672,448	-$10,939,136 -$1,186,898	$17,546,414
22	$31,156,219	-$11,488,131 -$1,246,249	$18,421,839
23	$32,713,547	-$12,064,343 -$1,308,542	$19,340,662
24	$34,349,633	-$12,669,695 -$1,373,985	$20,305,953
25	$36,066,706	-$13,305,012 -$1,442,668	$21,319,026
26	$37,870,710	-$13,972,493 -$1,514,828	$22,383,389
27	$39,763,874	-$14,672,964 -$1,590,555	$23,500,355
28	$41,752,142	-$15,408,623 -$1,670,086	$24,673,433
29	$43,839,972	-$16,181,120 -$1,753,599	$25,905,253
30	$46,031,822	-$16,992,105 -$1,841,273	$27,198,444