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 South Carolina residents, the state will deduct 6.9% from your lottery earnings.
| South Carolina 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(6.9%) | $5,954,700 | | Net Lumpsum Payment | $48,453,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$202,511 |
$1,686,174 |
| 2 |
$3,081,780 |
$1,100,589
$212,643 |
$1,768,548 |
| 3 |
$3,235,830 |
$1,157,587
$223,272 |
$1,854,971 |
| 4 |
$3,397,680 |
$1,217,472
$234,440 |
$1,945,768 |
| 5 |
$3,567,525 |
$1,280,315
$246,159 |
$2,041,051 |
| 6 |
$3,745,950 |
$1,346,332
$258,471 |
$2,141,147 |
| 7 |
$3,933,150 |
$1,415,596
$271,387 |
$2,246,167 |
| 8 |
$4,129,905 |
$1,488,395
$284,963 |
$2,356,547 |
| 9 |
$4,336,410 |
$1,564,802
$299,212 |
$2,472,396 |
| 10 |
$4,553,250 |
$1,645,033
$314,174 |
$2,594,043 |
| 11 |
$4,780,815 |
$1,729,232
$329,876 |
$2,721,707 |
| 12 |
$5,019,885 |
$1,817,688
$346,372 |
$2,855,825 |
| 13 |
$5,270,850 |
$1,910,545
$363,689 |
$2,996,616 |
| 14 |
$5,534,490 |
$2,008,092
$381,880 |
$3,144,518 |
| 15 |
$5,811,195 |
$2,110,473
$400,972 |
$3,299,750 |
| 16 |
$6,101,745 |
$2,217,976
$421,020 |
$3,462,749 |
| 17 |
$6,406,725 |
$2,330,819
$442,064 |
$3,633,842 |
| 18 |
$6,727,110 |
$2,449,361
$464,171 |
$3,813,578 |
| 19 |
$7,063,485 |
$2,573,820
$487,380 |
$4,002,285 |
| 20 |
$7,416,630 |
$2,704,483
$511,747 |
$4,200,400 |
| 21 |
$7,787,520 |
$2,841,713
$537,339 |
$4,408,468 |
| 22 |
$8,176,935 |
$2,985,796
$564,209 |
$4,626,930 |
| 23 |
$8,585,655 |
$3,137,023
$592,410 |
$4,856,222 |
| 24 |
$9,015,045 |
$3,295,897
$622,038 |
$5,097,110 |
| 25 |
$9,465,690 |
$3,462,636
$653,133 |
$5,349,921 |
| 26 |
$9,939,150 |
$3,637,816
$685,801 |
$5,615,533 |
| 27 |
$10,436,010 |
$3,821,654
$720,085 |
$5,894,271 |
| 28 |
$10,957,830 |
$4,014,727
$756,090 |
$6,187,013 |
| 29 |
$11,505,780 |
$4,217,469
$793,899 |
$6,494,412 |
| 30 |
$12,081,030 |
$4,430,311
$833,591 |
$6,817,128 |
|
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