Texas Lottery

TXLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 29, 2026 is estimated to be $300 Million, with a cash option of 124.1 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 Texas, 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.

Texas MEGA Millions Jackpot/Cash Option for Tue Sep 29, 2026

Draw Date	Jackpot	Cash Option
Tue Sep 29, 2026	$300,000,000	$124,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$124,100,000
Federal Tax(24%)	$29,784,000
Additional Federal Tax	$16,093,330
State Tax(0%)	$0
Net Lumpsum Payment	$78,222,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,515,300	-$1,630,991 -$0	$2,884,309
2	$4,741,200	-$1,714,574 -$0	$3,026,626
3	$4,978,200	-$1,802,264 -$0	$3,175,936
4	$5,227,200	-$1,894,394 -$0	$3,332,806
5	$5,488,500	-$1,991,075 -$0	$3,497,425
6	$5,763,000	-$2,092,640 -$0	$3,670,360
7	$6,051,000	-$2,199,200 -$0	$3,851,800
8	$6,353,700	-$2,311,199 -$0	$4,042,501
9	$6,671,400	-$2,428,748 -$0	$4,242,652
10	$7,005,000	-$2,552,180 -$0	$4,452,820
11	$7,355,100	-$2,681,717 -$0	$4,673,383
12	$7,722,900	-$2,817,803 -$0	$4,905,097
13	$8,109,000	-$2,960,660 -$0	$5,148,340
14	$8,514,600	-$3,110,732 -$0	$5,403,868
15	$8,940,300	-$3,268,241 -$0	$5,672,059
16	$9,387,300	-$3,433,631 -$0	$5,953,669
17	$9,856,500	-$3,607,235 -$0	$6,249,265
18	$10,349,400	-$3,789,608 -$0	$6,559,792
19	$10,866,900	-$3,981,083 -$0	$6,885,817
20	$11,410,200	-$4,182,104 -$0	$7,228,096
21	$11,980,800	-$4,393,226 -$0	$7,587,574
22	$12,579,900	-$4,614,893 -$0	$7,965,007
23	$13,208,700	-$4,847,549 -$0	$8,361,151
24	$13,869,300	-$5,091,971 -$0	$8,777,329
25	$14,562,600	-$5,348,492 -$0	$9,214,108
26	$15,291,000	-$5,618,000 -$0	$9,673,000
27	$16,055,400	-$5,900,828 -$0	$10,154,572
28	$16,858,200	-$6,197,864 -$0	$10,660,336
29	$17,701,200	-$6,509,774 -$0	$11,191,426
30	$18,586,200	-$6,837,224 -$0	$11,748,976