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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $3,443,370 | | Net Lumpsum Payment | $50,965,300 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$117,104 |
$1,771,581 |
| 2 |
$3,081,780 |
$1,100,589
$122,963 |
$1,858,228 |
| 3 |
$3,235,830 |
$1,157,587
$129,110 |
$1,949,133 |
| 4 |
$3,397,680 |
$1,217,472
$135,567 |
$2,044,641 |
| 5 |
$3,567,525 |
$1,280,315
$142,344 |
$2,144,866 |
| 6 |
$3,745,950 |
$1,346,332
$149,463 |
$2,250,155 |
| 7 |
$3,933,150 |
$1,415,596
$156,933 |
$2,360,621 |
| 8 |
$4,129,905 |
$1,488,395
$164,783 |
$2,476,727 |
| 9 |
$4,336,410 |
$1,564,802
$173,023 |
$2,598,585 |
| 10 |
$4,553,250 |
$1,645,033
$181,675 |
$2,726,542 |
| 11 |
$4,780,815 |
$1,729,232
$190,755 |
$2,860,828 |
| 12 |
$5,019,885 |
$1,817,688
$200,293 |
$3,001,904 |
| 13 |
$5,270,850 |
$1,910,545
$210,307 |
$3,149,998 |
| 14 |
$5,534,490 |
$2,008,092
$220,826 |
$3,305,572 |
| 15 |
$5,811,195 |
$2,110,473
$231,867 |
$3,468,855 |
| 16 |
$6,101,745 |
$2,217,976
$243,460 |
$3,640,309 |
| 17 |
$6,406,725 |
$2,330,819
$255,628 |
$3,820,278 |
| 18 |
$6,727,110 |
$2,449,361
$268,412 |
$4,009,337 |
| 19 |
$7,063,485 |
$2,573,820
$281,833 |
$4,207,832 |
| 20 |
$7,416,630 |
$2,704,483
$295,924 |
$4,416,223 |
| 21 |
$7,787,520 |
$2,841,713
$310,722 |
$4,635,085 |
| 22 |
$8,176,935 |
$2,985,796
$326,260 |
$4,864,879 |
| 23 |
$8,585,655 |
$3,137,023
$342,568 |
$5,106,064 |
| 24 |
$9,015,045 |
$3,295,897
$359,700 |
$5,359,448 |
| 25 |
$9,465,690 |
$3,462,636
$377,681 |
$5,625,373 |
| 26 |
$9,939,150 |
$3,637,816
$396,572 |
$5,904,762 |
| 27 |
$10,436,010 |
$3,821,654
$416,397 |
$6,197,959 |
| 28 |
$10,957,830 |
$4,014,727
$437,217 |
$6,505,886 |
| 29 |
$11,505,780 |
$4,217,469
$459,081 |
$6,829,230 |
| 30 |
$12,081,030 |
$4,430,311
$482,033 |
$7,168,686 |
|
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