The jackpot for the MEGA Millions draw on Tue May 12, 2026, is projected to be $232 Million, with an option for a cash payout of $103.8 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 Connecticut residents, the state will deduct 6.99% from your lottery earnings.
| Connecticut MEGA Millions Jackpot/Cash Option for Tue May 12, 2026 |
|---|
| Draw Date | Tue May 12, 2026 | | Projected Jackpot | $232,000,000 | | Cash Value | $103,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $103,800,000 | | Federal Tax(24%) | $24,912,000 | | Additional Federal Tax | $13,454,330 | | State Tax(6.99%) | $7,255,620 | | Net Lumpsum Payment | $58,178,050 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,491,832 |
$1,252,308
$244,079 |
$1,995,445 |
| 2 |
$3,666,528 |
$1,316,946
$256,290 |
$2,093,292 |
| 3 |
$3,849,808 |
$1,384,759
$269,102 |
$2,195,947 |
| 4 |
$4,042,368 |
$1,456,007
$282,562 |
$2,303,799 |
| 5 |
$4,244,440 |
$1,530,773
$296,686 |
$2,416,981 |
| 6 |
$4,456,720 |
$1,609,317
$311,525 |
$2,535,878 |
| 7 |
$4,679,440 |
$1,691,723
$327,093 |
$2,660,624 |
| 8 |
$4,913,528 |
$1,778,336
$343,456 |
$2,791,736 |
| 9 |
$5,159,216 |
$1,869,240
$360,629 |
$2,929,347 |
| 10 |
$5,417,200 |
$1,964,694
$378,662 |
$3,073,844 |
| 11 |
$5,687,944 |
$2,064,870
$397,587 |
$3,225,487 |
| 12 |
$5,972,376 |
$2,170,110
$417,469 |
$3,384,797 |
| 13 |
$6,270,960 |
$2,280,586
$438,340 |
$3,552,034 |
| 14 |
$6,584,624 |
$2,396,641
$460,265 |
$3,727,718 |
| 15 |
$6,913,832 |
$2,518,448
$483,277 |
$3,912,107 |
| 16 |
$7,259,512 |
$2,646,350
$507,440 |
$4,105,722 |
| 17 |
$7,622,360 |
$2,780,604
$532,803 |
$4,308,953 |
| 18 |
$8,003,536 |
$2,921,639
$559,447 |
$4,522,450 |
| 19 |
$8,403,736 |
$3,069,713
$587,421 |
$4,746,602 |
| 20 |
$8,823,888 |
$3,225,169
$616,790 |
$4,981,929 |
| 21 |
$9,265,152 |
$3,388,437
$647,634 |
$5,229,081 |
| 22 |
$9,728,456 |
$3,559,859
$680,019 |
$5,488,578 |
| 23 |
$10,214,728 |
$3,739,780
$714,009 |
$5,760,939 |
| 24 |
$10,725,592 |
$3,928,799
$749,719 |
$6,047,074 |
| 25 |
$11,261,744 |
$4,127,176
$787,196 |
$6,347,372 |
| 26 |
$11,825,040 |
$4,335,595
$826,570 |
$6,662,875 |
| 27 |
$12,416,176 |
$4,554,316
$867,891 |
$6,993,969 |
| 28 |
$13,037,008 |
$4,784,023
$911,287 |
$7,341,698 |
| 29 |
$13,688,928 |
$5,025,234
$956,856 |
$7,706,838 |
| 30 |
$14,373,328 |
$5,278,462
$1,004,696 |
$8,090,170 |
|
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