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 Minnesota residents, the state will deduct 7.25% from your lottery earnings.
| Minnesota 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(7.25%) | $6,256,750 | | Net Lumpsum Payment | $48,151,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$212,784 |
$1,675,901 |
| 2 |
$3,081,780 |
$1,100,589
$223,429 |
$1,757,762 |
| 3 |
$3,235,830 |
$1,157,587
$234,598 |
$1,843,645 |
| 4 |
$3,397,680 |
$1,217,472
$246,332 |
$1,933,876 |
| 5 |
$3,567,525 |
$1,280,315
$258,646 |
$2,028,564 |
| 6 |
$3,745,950 |
$1,346,332
$271,581 |
$2,128,037 |
| 7 |
$3,933,150 |
$1,415,596
$285,153 |
$2,232,401 |
| 8 |
$4,129,905 |
$1,488,395
$299,418 |
$2,342,092 |
| 9 |
$4,336,410 |
$1,564,802
$314,390 |
$2,457,218 |
| 10 |
$4,553,250 |
$1,645,033
$330,111 |
$2,578,106 |
| 11 |
$4,780,815 |
$1,729,232
$346,609 |
$2,704,974 |
| 12 |
$5,019,885 |
$1,817,688
$363,942 |
$2,838,255 |
| 13 |
$5,270,850 |
$1,910,545
$382,137 |
$2,978,168 |
| 14 |
$5,534,490 |
$2,008,092
$401,251 |
$3,125,147 |
| 15 |
$5,811,195 |
$2,110,473
$421,312 |
$3,279,410 |
| 16 |
$6,101,745 |
$2,217,976
$442,377 |
$3,441,392 |
| 17 |
$6,406,725 |
$2,330,819
$464,488 |
$3,611,418 |
| 18 |
$6,727,110 |
$2,449,361
$487,715 |
$3,790,034 |
| 19 |
$7,063,485 |
$2,573,820
$512,103 |
$3,977,562 |
| 20 |
$7,416,630 |
$2,704,483
$537,706 |
$4,174,441 |
| 21 |
$7,787,520 |
$2,841,713
$564,595 |
$4,381,212 |
| 22 |
$8,176,935 |
$2,985,796
$592,828 |
$4,598,311 |
| 23 |
$8,585,655 |
$3,137,023
$622,460 |
$4,826,172 |
| 24 |
$9,015,045 |
$3,295,897
$653,591 |
$5,065,557 |
| 25 |
$9,465,690 |
$3,462,636
$686,263 |
$5,316,791 |
| 26 |
$9,939,150 |
$3,637,816
$720,588 |
$5,580,746 |
| 27 |
$10,436,010 |
$3,821,654
$756,611 |
$5,857,745 |
| 28 |
$10,957,830 |
$4,014,727
$794,443 |
$6,148,660 |
| 29 |
$11,505,780 |
$4,217,469
$834,169 |
$6,454,142 |
| 30 |
$12,081,030 |
$4,430,311
$875,875 |
$6,774,844 |
|
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