The jackpot for the MEGA Millions draw on Tue May 5, 2026, is projected to be $195 Million, with an option for a cash payout of $86.3 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan MEGA Millions Jackpot/Cash Option for Tue May 5, 2026 |
|---|
| Draw Date | Tue May 5, 2026 | | Projected Jackpot | $195,000,000 | | Cash Value | $86,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $86,300,000 | | Federal Tax(24%) | $20,712,000 | | Additional Federal Tax | $11,179,330 | | State Tax(4.25%) | $3,667,750 | | Net Lumpsum Payment | $50,740,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$124,735 |
$1,763,950 |
| 2 |
$3,081,780 |
$1,100,589
$130,976 |
$1,850,215 |
| 3 |
$3,235,830 |
$1,157,587
$137,523 |
$1,940,720 |
| 4 |
$3,397,680 |
$1,217,472
$144,401 |
$2,035,807 |
| 5 |
$3,567,525 |
$1,280,315
$151,620 |
$2,135,590 |
| 6 |
$3,745,950 |
$1,346,332
$159,203 |
$2,240,415 |
| 7 |
$3,933,150 |
$1,415,596
$167,159 |
$2,350,395 |
| 8 |
$4,129,905 |
$1,488,395
$175,521 |
$2,465,989 |
| 9 |
$4,336,410 |
$1,564,802
$184,297 |
$2,587,311 |
| 10 |
$4,553,250 |
$1,645,033
$193,513 |
$2,714,704 |
| 11 |
$4,780,815 |
$1,729,232
$203,185 |
$2,848,398 |
| 12 |
$5,019,885 |
$1,817,688
$213,345 |
$2,988,852 |
| 13 |
$5,270,850 |
$1,910,545
$224,011 |
$3,136,294 |
| 14 |
$5,534,490 |
$2,008,092
$235,216 |
$3,291,182 |
| 15 |
$5,811,195 |
$2,110,473
$246,976 |
$3,453,746 |
| 16 |
$6,101,745 |
$2,217,976
$259,324 |
$3,624,445 |
| 17 |
$6,406,725 |
$2,330,819
$272,286 |
$3,803,620 |
| 18 |
$6,727,110 |
$2,449,361
$285,902 |
$3,991,847 |
| 19 |
$7,063,485 |
$2,573,820
$300,198 |
$4,189,467 |
| 20 |
$7,416,630 |
$2,704,483
$315,207 |
$4,396,940 |
| 21 |
$7,787,520 |
$2,841,713
$330,970 |
$4,614,837 |
| 22 |
$8,176,935 |
$2,985,796
$347,520 |
$4,843,619 |
| 23 |
$8,585,655 |
$3,137,023
$364,890 |
$5,083,742 |
| 24 |
$9,015,045 |
$3,295,897
$383,139 |
$5,336,009 |
| 25 |
$9,465,690 |
$3,462,636
$402,292 |
$5,600,762 |
| 26 |
$9,939,150 |
$3,637,816
$422,414 |
$5,878,920 |
| 27 |
$10,436,010 |
$3,821,654
$443,530 |
$6,170,826 |
| 28 |
$10,957,830 |
$4,014,727
$465,708 |
$6,477,395 |
| 29 |
$11,505,780 |
$4,217,469
$488,996 |
$6,799,315 |
| 30 |
$12,081,030 |
$4,430,311
$513,444 |
$7,137,275 |
|
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