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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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%) | $5,178,000 | | Net Lumpsum Payment | $49,230,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$176,097 |
$1,712,588 |
| 2 |
$3,081,780 |
$1,100,589
$184,907 |
$1,796,284 |
| 3 |
$3,235,830 |
$1,157,587
$194,150 |
$1,884,093 |
| 4 |
$3,397,680 |
$1,217,472
$203,861 |
$1,976,347 |
| 5 |
$3,567,525 |
$1,280,315
$214,052 |
$2,073,158 |
| 6 |
$3,745,950 |
$1,346,332
$224,757 |
$2,174,861 |
| 7 |
$3,933,150 |
$1,415,596
$235,989 |
$2,281,565 |
| 8 |
$4,129,905 |
$1,488,395
$247,794 |
$2,393,716 |
| 9 |
$4,336,410 |
$1,564,802
$260,185 |
$2,511,423 |
| 10 |
$4,553,250 |
$1,645,033
$273,195 |
$2,635,022 |
| 11 |
$4,780,815 |
$1,729,232
$286,849 |
$2,764,734 |
| 12 |
$5,019,885 |
$1,817,688
$301,193 |
$2,901,004 |
| 13 |
$5,270,850 |
$1,910,545
$316,251 |
$3,044,054 |
| 14 |
$5,534,490 |
$2,008,092
$332,069 |
$3,194,329 |
| 15 |
$5,811,195 |
$2,110,473
$348,672 |
$3,352,050 |
| 16 |
$6,101,745 |
$2,217,976
$366,105 |
$3,517,664 |
| 17 |
$6,406,725 |
$2,330,819
$384,404 |
$3,691,502 |
| 18 |
$6,727,110 |
$2,449,361
$403,627 |
$3,874,122 |
| 19 |
$7,063,485 |
$2,573,820
$423,809 |
$4,065,856 |
| 20 |
$7,416,630 |
$2,704,483
$444,998 |
$4,267,149 |
| 21 |
$7,787,520 |
$2,841,713
$467,251 |
$4,478,556 |
| 22 |
$8,176,935 |
$2,985,796
$490,616 |
$4,700,523 |
| 23 |
$8,585,655 |
$3,137,023
$515,139 |
$4,933,493 |
| 24 |
$9,015,045 |
$3,295,897
$540,903 |
$5,178,245 |
| 25 |
$9,465,690 |
$3,462,636
$567,941 |
$5,435,113 |
| 26 |
$9,939,150 |
$3,637,816
$596,349 |
$5,704,985 |
| 27 |
$10,436,010 |
$3,821,654
$626,161 |
$5,988,195 |
| 28 |
$10,957,830 |
$4,014,727
$657,470 |
$6,285,633 |
| 29 |
$11,505,780 |
$4,217,469
$690,347 |
$6,597,964 |
| 30 |
$12,081,030 |
$4,430,311
$724,862 |
$6,925,857 |
|
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