The jackpot for the MEGA Millions draw on Tue May 12, 2026, is projected to be $232 Million, with an option for a cash payout of $103.8 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 12, 2026 |
|---|
| Draw Date | Tue May 12, 2026 | | Projected Jackpot | $232,000,000 | | Cash Value | $103,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $103,800,000 | | Federal Tax(24%) | $24,912,000 | | Additional Federal Tax | $13,454,330 | | State Tax(5.99%) | $6,217,620 | | Net Lumpsum Payment | $59,216,050 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,491,832 |
$1,252,308
$209,161 |
$2,030,363 |
| 2 |
$3,666,528 |
$1,316,946
$219,625 |
$2,129,957 |
| 3 |
$3,849,808 |
$1,384,759
$230,603 |
$2,234,446 |
| 4 |
$4,042,368 |
$1,456,007
$242,138 |
$2,344,223 |
| 5 |
$4,244,440 |
$1,530,773
$254,242 |
$2,459,425 |
| 6 |
$4,456,720 |
$1,609,317
$266,958 |
$2,580,445 |
| 7 |
$4,679,440 |
$1,691,723
$280,298 |
$2,707,419 |
| 8 |
$4,913,528 |
$1,778,336
$294,320 |
$2,840,872 |
| 9 |
$5,159,216 |
$1,869,240
$309,037 |
$2,980,939 |
| 10 |
$5,417,200 |
$1,964,694
$324,490 |
$3,128,016 |
| 11 |
$5,687,944 |
$2,064,870
$340,708 |
$3,282,366 |
| 12 |
$5,972,376 |
$2,170,110
$357,745 |
$3,444,521 |
| 13 |
$6,270,960 |
$2,280,586
$375,631 |
$3,614,743 |
| 14 |
$6,584,624 |
$2,396,641
$394,419 |
$3,793,564 |
| 15 |
$6,913,832 |
$2,518,448
$414,139 |
$3,981,245 |
| 16 |
$7,259,512 |
$2,646,350
$434,845 |
$4,178,317 |
| 17 |
$7,622,360 |
$2,780,604
$456,579 |
$4,385,177 |
| 18 |
$8,003,536 |
$2,921,639
$479,412 |
$4,602,485 |
| 19 |
$8,403,736 |
$3,069,713
$503,384 |
$4,830,639 |
| 20 |
$8,823,888 |
$3,225,169
$528,551 |
$5,070,168 |
| 21 |
$9,265,152 |
$3,388,437
$554,983 |
$5,321,732 |
| 22 |
$9,728,456 |
$3,559,859
$582,735 |
$5,585,862 |
| 23 |
$10,214,728 |
$3,739,780
$611,862 |
$5,863,086 |
| 24 |
$10,725,592 |
$3,928,799
$642,463 |
$6,154,330 |
| 25 |
$11,261,744 |
$4,127,176
$674,578 |
$6,459,990 |
| 26 |
$11,825,040 |
$4,335,595
$708,320 |
$6,781,125 |
| 27 |
$12,416,176 |
$4,554,316
$743,729 |
$7,118,131 |
| 28 |
$13,037,008 |
$4,784,023
$780,917 |
$7,472,068 |
| 29 |
$13,688,928 |
$5,025,234
$819,967 |
$7,843,727 |
| 30 |
$14,373,328 |
$5,278,462
$860,962 |
$8,233,904 |
|
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