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 Connecticut residents, the state will deduct 6.99% from your lottery earnings.
| Connecticut 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(6.99%) | $6,032,370 | | Net Lumpsum Payment | $48,376,300 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$205,153 |
$1,683,532 |
| 2 |
$3,081,780 |
$1,100,589
$215,416 |
$1,765,775 |
| 3 |
$3,235,830 |
$1,157,587
$226,185 |
$1,852,058 |
| 4 |
$3,397,680 |
$1,217,472
$237,498 |
$1,942,710 |
| 5 |
$3,567,525 |
$1,280,315
$249,370 |
$2,037,840 |
| 6 |
$3,745,950 |
$1,346,332
$261,842 |
$2,137,776 |
| 7 |
$3,933,150 |
$1,415,596
$274,927 |
$2,242,627 |
| 8 |
$4,129,905 |
$1,488,395
$288,680 |
$2,352,830 |
| 9 |
$4,336,410 |
$1,564,802
$303,115 |
$2,468,493 |
| 10 |
$4,553,250 |
$1,645,033
$318,272 |
$2,589,945 |
| 11 |
$4,780,815 |
$1,729,232
$334,179 |
$2,717,404 |
| 12 |
$5,019,885 |
$1,817,688
$350,890 |
$2,851,307 |
| 13 |
$5,270,850 |
$1,910,545
$368,432 |
$2,991,873 |
| 14 |
$5,534,490 |
$2,008,092
$386,861 |
$3,139,537 |
| 15 |
$5,811,195 |
$2,110,473
$406,203 |
$3,294,519 |
| 16 |
$6,101,745 |
$2,217,976
$426,512 |
$3,457,257 |
| 17 |
$6,406,725 |
$2,330,819
$447,830 |
$3,628,076 |
| 18 |
$6,727,110 |
$2,449,361
$470,225 |
$3,807,524 |
| 19 |
$7,063,485 |
$2,573,820
$493,738 |
$3,995,927 |
| 20 |
$7,416,630 |
$2,704,483
$518,422 |
$4,193,725 |
| 21 |
$7,787,520 |
$2,841,713
$544,348 |
$4,401,459 |
| 22 |
$8,176,935 |
$2,985,796
$571,568 |
$4,619,571 |
| 23 |
$8,585,655 |
$3,137,023
$600,137 |
$4,848,495 |
| 24 |
$9,015,045 |
$3,295,897
$630,152 |
$5,088,996 |
| 25 |
$9,465,690 |
$3,462,636
$661,652 |
$5,341,402 |
| 26 |
$9,939,150 |
$3,637,816
$694,747 |
$5,606,587 |
| 27 |
$10,436,010 |
$3,821,654
$729,477 |
$5,884,879 |
| 28 |
$10,957,830 |
$4,014,727
$765,952 |
$6,177,151 |
| 29 |
$11,505,780 |
$4,217,469
$804,254 |
$6,484,057 |
| 30 |
$12,081,030 |
$4,430,311
$844,464 |
$6,806,255 |
|
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