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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $2,718,450 | | Net Lumpsum Payment | $51,690,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$92,451 |
$1,796,234 |
| 2 |
$3,081,780 |
$1,100,589
$97,076 |
$1,884,115 |
| 3 |
$3,235,830 |
$1,157,587
$101,929 |
$1,976,314 |
| 4 |
$3,397,680 |
$1,217,472
$107,027 |
$2,073,181 |
| 5 |
$3,567,525 |
$1,280,315
$112,377 |
$2,174,833 |
| 6 |
$3,745,950 |
$1,346,332
$117,997 |
$2,281,621 |
| 7 |
$3,933,150 |
$1,415,596
$123,894 |
$2,393,660 |
| 8 |
$4,129,905 |
$1,488,395
$130,092 |
$2,511,418 |
| 9 |
$4,336,410 |
$1,564,802
$136,597 |
$2,635,011 |
| 10 |
$4,553,250 |
$1,645,033
$143,427 |
$2,764,790 |
| 11 |
$4,780,815 |
$1,729,232
$150,596 |
$2,900,987 |
| 12 |
$5,019,885 |
$1,817,688
$158,126 |
$3,044,071 |
| 13 |
$5,270,850 |
$1,910,545
$166,032 |
$3,194,273 |
| 14 |
$5,534,490 |
$2,008,092
$174,336 |
$3,352,062 |
| 15 |
$5,811,195 |
$2,110,473
$183,053 |
$3,517,669 |
| 16 |
$6,101,745 |
$2,217,976
$192,205 |
$3,691,564 |
| 17 |
$6,406,725 |
$2,330,819
$201,812 |
$3,874,094 |
| 18 |
$6,727,110 |
$2,449,361
$211,904 |
$4,065,845 |
| 19 |
$7,063,485 |
$2,573,820
$222,500 |
$4,267,165 |
| 20 |
$7,416,630 |
$2,704,483
$233,624 |
$4,478,523 |
| 21 |
$7,787,520 |
$2,841,713
$245,307 |
$4,700,500 |
| 22 |
$8,176,935 |
$2,985,796
$257,573 |
$4,933,566 |
| 23 |
$8,585,655 |
$3,137,023
$270,448 |
$5,178,184 |
| 24 |
$9,015,045 |
$3,295,897
$283,974 |
$5,435,174 |
| 25 |
$9,465,690 |
$3,462,636
$298,169 |
$5,704,885 |
| 26 |
$9,939,150 |
$3,637,816
$313,083 |
$5,988,251 |
| 27 |
$10,436,010 |
$3,821,654
$328,734 |
$6,285,622 |
| 28 |
$10,957,830 |
$4,014,727
$345,172 |
$6,597,931 |
| 29 |
$11,505,780 |
$4,217,469
$362,432 |
$6,925,879 |
| 30 |
$12,081,030 |
$4,430,311
$380,552 |
$7,270,167 |
|
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