The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island MEGA Millions Jackpot/Cash Option for Fri May 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(5.99%) | $7,703,140 | | Net Lumpsum Payment | $73,354,530 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$266,860 |
$2,579,520 |
| 2 |
$4,677,984 |
$1,691,184
$280,211 |
$2,706,589 |
| 3 |
$4,911,824 |
$1,777,705
$294,218 |
$2,839,901 |
| 4 |
$5,157,504 |
$1,868,607
$308,934 |
$2,979,963 |
| 5 |
$5,415,320 |
$1,963,999
$324,378 |
$3,126,943 |
| 6 |
$5,686,160 |
$2,064,210
$340,601 |
$3,281,349 |
| 7 |
$5,970,320 |
$2,169,349
$357,622 |
$3,443,349 |
| 8 |
$6,268,984 |
$2,279,854
$375,512 |
$3,613,618 |
| 9 |
$6,582,448 |
$2,395,836
$394,289 |
$3,792,323 |
| 10 |
$6,911,600 |
$2,517,622
$414,005 |
$3,979,973 |
| 11 |
$7,257,032 |
$2,645,432
$434,696 |
$4,176,904 |
| 12 |
$7,619,928 |
$2,779,704
$456,434 |
$4,383,790 |
| 13 |
$8,000,880 |
$2,920,656
$479,253 |
$4,600,971 |
| 14 |
$8,401,072 |
$3,068,727
$503,224 |
$4,829,121 |
| 15 |
$8,821,096 |
$3,224,136
$528,384 |
$5,068,576 |
| 16 |
$9,262,136 |
$3,387,321
$554,802 |
$5,320,013 |
| 17 |
$9,725,080 |
$3,558,610
$582,532 |
$5,583,938 |
| 18 |
$10,211,408 |
$3,738,551
$611,663 |
$5,861,194 |
| 19 |
$10,722,008 |
$3,927,473
$642,248 |
$6,152,287 |
| 20 |
$11,258,064 |
$4,125,814
$674,358 |
$6,457,892 |
| 21 |
$11,821,056 |
$4,334,121
$708,081 |
$6,778,854 |
| 22 |
$12,412,168 |
$4,552,833
$743,489 |
$7,115,846 |
| 23 |
$13,032,584 |
$4,782,386
$780,652 |
$7,469,546 |
| 24 |
$13,684,376 |
$5,023,550
$819,694 |
$7,841,132 |
| 25 |
$14,368,432 |
$5,276,650
$860,669 |
$8,231,113 |
| 26 |
$15,087,120 |
$5,542,565
$903,718 |
$8,640,837 |
| 27 |
$15,841,328 |
$5,821,622
$948,896 |
$9,070,810 |
| 28 |
$16,633,424 |
$6,114,697
$996,342 |
$9,522,385 |
| 29 |
$17,465,184 |
$6,422,448
$1,046,165 |
$9,996,571 |
| 30 |
$18,338,384 |
$6,745,532
$1,098,469 |
$10,494,383 |
|
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