Maryland Lottery

MDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Maryland, your state will take 8.95% of your lottery winnings.

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

Maryland MEGA Millions Jackpot/Cash Option for Tue Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(8.95%)	$2,282,250
Net Lumpsum Payment	$13,822,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$80,824	$527,773
2	$948,240	-$311,179 -$84,867	$552,194
3	$995,640	-$328,717 -$89,110	$577,813
4	$1,045,440	-$347,143 -$93,567	$604,730
5	$1,097,700	-$366,479 -$98,244	$632,977
6	$1,152,600	-$386,792 -$103,158	$662,650
7	$1,210,200	-$408,104 -$108,313	$693,783
8	$1,270,740	-$430,504 -$113,731	$726,505
9	$1,334,280	-$454,014 -$119,418	$760,848
10	$1,401,000	-$478,700 -$125,390	$796,910
11	$1,471,020	-$504,608 -$131,656	$834,756
12	$1,544,580	-$531,825 -$138,240	$874,515
13	$1,621,800	-$560,396 -$145,151	$916,253
14	$1,702,920	-$590,411 -$152,411	$960,098
15	$1,788,060	-$621,913 -$160,031	$1,006,116
16	$1,877,460	-$654,991 -$168,033	$1,054,436
17	$1,971,300	-$689,711 -$176,431	$1,105,158
18	$2,069,880	-$726,186 -$185,254	$1,158,440
19	$2,173,380	-$764,481 -$194,518	$1,214,381
20	$2,282,040	-$804,685 -$204,243	$1,273,112
21	$2,396,160	-$846,910 -$214,456	$1,334,794
22	$2,515,980	-$891,243 -$225,180	$1,399,557
23	$2,641,740	-$937,774 -$236,436	$1,467,530
24	$2,773,860	-$986,659 -$248,260	$1,538,941
25	$2,912,520	-$1,037,963 -$260,671	$1,613,886
26	$3,058,200	-$1,091,864 -$273,709	$1,692,627
27	$3,211,080	-$1,148,430 -$287,392	$1,775,258
28	$3,371,640	-$1,207,837 -$301,762	$1,862,041
29	$3,540,240	-$1,270,219 -$316,851	$1,953,170
30	$3,717,240	-$1,335,709 -$332,693	$2,048,838