The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 those living in Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida MEGA Millions Jackpot/Cash Option for Fri May 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $81,057,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$0 |
$2,846,380 |
| 2 |
$4,677,984 |
$1,691,184
$0 |
$2,986,800 |
| 3 |
$4,911,824 |
$1,777,705
$0 |
$3,134,119 |
| 4 |
$5,157,504 |
$1,868,607
$0 |
$3,288,897 |
| 5 |
$5,415,320 |
$1,963,999
$0 |
$3,451,321 |
| 6 |
$5,686,160 |
$2,064,210
$0 |
$3,621,950 |
| 7 |
$5,970,320 |
$2,169,349
$0 |
$3,800,971 |
| 8 |
$6,268,984 |
$2,279,854
$0 |
$3,989,130 |
| 9 |
$6,582,448 |
$2,395,836
$0 |
$4,186,612 |
| 10 |
$6,911,600 |
$2,517,622
$0 |
$4,393,978 |
| 11 |
$7,257,032 |
$2,645,432
$0 |
$4,611,600 |
| 12 |
$7,619,928 |
$2,779,704
$0 |
$4,840,224 |
| 13 |
$8,000,880 |
$2,920,656
$0 |
$5,080,224 |
| 14 |
$8,401,072 |
$3,068,727
$0 |
$5,332,345 |
| 15 |
$8,821,096 |
$3,224,136
$0 |
$5,596,960 |
| 16 |
$9,262,136 |
$3,387,321
$0 |
$5,874,815 |
| 17 |
$9,725,080 |
$3,558,610
$0 |
$6,166,470 |
| 18 |
$10,211,408 |
$3,738,551
$0 |
$6,472,857 |
| 19 |
$10,722,008 |
$3,927,473
$0 |
$6,794,535 |
| 20 |
$11,258,064 |
$4,125,814
$0 |
$7,132,250 |
| 21 |
$11,821,056 |
$4,334,121
$0 |
$7,486,935 |
| 22 |
$12,412,168 |
$4,552,833
$0 |
$7,859,335 |
| 23 |
$13,032,584 |
$4,782,386
$0 |
$8,250,198 |
| 24 |
$13,684,376 |
$5,023,550
$0 |
$8,660,826 |
| 25 |
$14,368,432 |
$5,276,650
$0 |
$9,091,782 |
| 26 |
$15,087,120 |
$5,542,565
$0 |
$9,544,555 |
| 27 |
$15,841,328 |
$5,821,622
$0 |
$10,019,706 |
| 28 |
$16,633,424 |
$6,114,697
$0 |
$10,518,727 |
| 29 |
$17,465,184 |
$6,422,448
$0 |
$11,042,736 |
| 30 |
$18,338,384 |
$6,745,532
$0 |
$11,592,852 |
|
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