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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island 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(5.99%) | $5,169,370 | | Net Lumpsum Payment | $49,239,300 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$175,803 |
$1,712,882 |
| 2 |
$3,081,780 |
$1,100,589
$184,599 |
$1,796,592 |
| 3 |
$3,235,830 |
$1,157,587
$193,826 |
$1,884,417 |
| 4 |
$3,397,680 |
$1,217,472
$203,521 |
$1,976,687 |
| 5 |
$3,567,525 |
$1,280,315
$213,695 |
$2,073,515 |
| 6 |
$3,745,950 |
$1,346,332
$224,382 |
$2,175,236 |
| 7 |
$3,933,150 |
$1,415,596
$235,596 |
$2,281,958 |
| 8 |
$4,129,905 |
$1,488,395
$247,381 |
$2,394,129 |
| 9 |
$4,336,410 |
$1,564,802
$259,751 |
$2,511,857 |
| 10 |
$4,553,250 |
$1,645,033
$272,740 |
$2,635,477 |
| 11 |
$4,780,815 |
$1,729,232
$286,371 |
$2,765,212 |
| 12 |
$5,019,885 |
$1,817,688
$300,691 |
$2,901,506 |
| 13 |
$5,270,850 |
$1,910,545
$315,724 |
$3,044,581 |
| 14 |
$5,534,490 |
$2,008,092
$331,516 |
$3,194,882 |
| 15 |
$5,811,195 |
$2,110,473
$348,091 |
$3,352,631 |
| 16 |
$6,101,745 |
$2,217,976
$365,495 |
$3,518,274 |
| 17 |
$6,406,725 |
$2,330,819
$383,763 |
$3,692,143 |
| 18 |
$6,727,110 |
$2,449,361
$402,954 |
$3,874,795 |
| 19 |
$7,063,485 |
$2,573,820
$423,103 |
$4,066,562 |
| 20 |
$7,416,630 |
$2,704,483
$444,256 |
$4,267,891 |
| 21 |
$7,787,520 |
$2,841,713
$466,472 |
$4,479,335 |
| 22 |
$8,176,935 |
$2,985,796
$489,798 |
$4,701,341 |
| 23 |
$8,585,655 |
$3,137,023
$514,281 |
$4,934,351 |
| 24 |
$9,015,045 |
$3,295,897
$540,001 |
$5,179,147 |
| 25 |
$9,465,690 |
$3,462,636
$566,995 |
$5,436,059 |
| 26 |
$9,939,150 |
$3,637,816
$595,355 |
$5,705,979 |
| 27 |
$10,436,010 |
$3,821,654
$625,117 |
$5,989,239 |
| 28 |
$10,957,830 |
$4,014,727
$656,374 |
$6,286,729 |
| 29 |
$11,505,780 |
$4,217,469
$689,196 |
$6,599,115 |
| 30 |
$12,081,030 |
$4,430,311
$723,654 |
$6,927,065 |
|
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