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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $4,099,250 | | Net Lumpsum Payment | $50,309,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$139,410 |
$1,749,275 |
| 2 |
$3,081,780 |
$1,100,589
$146,385 |
$1,834,806 |
| 3 |
$3,235,830 |
$1,157,587
$153,702 |
$1,924,541 |
| 4 |
$3,397,680 |
$1,217,472
$161,390 |
$2,018,818 |
| 5 |
$3,567,525 |
$1,280,315
$169,457 |
$2,117,753 |
| 6 |
$3,745,950 |
$1,346,332
$177,933 |
$2,221,685 |
| 7 |
$3,933,150 |
$1,415,596
$186,825 |
$2,330,729 |
| 8 |
$4,129,905 |
$1,488,395
$196,170 |
$2,445,340 |
| 9 |
$4,336,410 |
$1,564,802
$205,979 |
$2,565,629 |
| 10 |
$4,553,250 |
$1,645,033
$216,279 |
$2,691,938 |
| 11 |
$4,780,815 |
$1,729,232
$227,089 |
$2,824,494 |
| 12 |
$5,019,885 |
$1,817,688
$238,445 |
$2,963,752 |
| 13 |
$5,270,850 |
$1,910,545
$250,365 |
$3,109,940 |
| 14 |
$5,534,490 |
$2,008,092
$262,888 |
$3,263,510 |
| 15 |
$5,811,195 |
$2,110,473
$276,032 |
$3,424,690 |
| 16 |
$6,101,745 |
$2,217,976
$289,833 |
$3,593,936 |
| 17 |
$6,406,725 |
$2,330,819
$304,319 |
$3,771,587 |
| 18 |
$6,727,110 |
$2,449,361
$319,538 |
$3,958,211 |
| 19 |
$7,063,485 |
$2,573,820
$335,516 |
$4,154,149 |
| 20 |
$7,416,630 |
$2,704,483
$352,290 |
$4,359,857 |
| 21 |
$7,787,520 |
$2,841,713
$369,907 |
$4,575,900 |
| 22 |
$8,176,935 |
$2,985,796
$388,404 |
$4,802,735 |
| 23 |
$8,585,655 |
$3,137,023
$407,819 |
$5,040,813 |
| 24 |
$9,015,045 |
$3,295,897
$428,215 |
$5,290,933 |
| 25 |
$9,465,690 |
$3,462,636
$449,620 |
$5,553,434 |
| 26 |
$9,939,150 |
$3,637,816
$472,110 |
$5,829,224 |
| 27 |
$10,436,010 |
$3,821,654
$495,710 |
$6,118,646 |
| 28 |
$10,957,830 |
$4,014,727
$520,497 |
$6,422,606 |
| 29 |
$11,505,780 |
$4,217,469
$546,525 |
$6,741,786 |
| 30 |
$12,081,030 |
$4,430,311
$573,849 |
$7,076,870 |
|
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