The jackpot for the MEGA Millions draw on Fri May 15, 2026, is projected to be $251 Million, with an option for a cash payout of $112.3 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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island MEGA Millions Jackpot/Cash Option for Fri May 15, 2026 |
|---|
| Draw Date | Fri May 15, 2026 | | Projected Jackpot | $251,000,000 | | Cash Value | $112,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,300,000 | | Federal Tax(24%) | $26,952,000 | | Additional Federal Tax | $14,559,330 | | State Tax(5.99%) | $6,726,770 | | Net Lumpsum Payment | $64,061,900 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,777,801 |
$1,358,117
$226,290 |
$2,193,394 |
| 2 |
$3,966,804 |
$1,428,048
$237,612 |
$2,301,144 |
| 3 |
$4,165,094 |
$1,501,415
$249,489 |
$2,414,190 |
| 4 |
$4,373,424 |
$1,578,497
$261,968 |
$2,532,959 |
| 5 |
$4,592,045 |
$1,659,387
$275,063 |
$2,657,595 |
| 6 |
$4,821,710 |
$1,744,363
$288,820 |
$2,788,527 |
| 7 |
$5,062,670 |
$1,833,518
$303,254 |
$2,925,898 |
| 8 |
$5,315,929 |
$1,927,224
$318,424 |
$3,070,281 |
| 9 |
$5,581,738 |
$2,025,573
$334,346 |
$3,221,819 |
| 10 |
$5,860,850 |
$2,128,845
$351,065 |
$3,380,940 |
| 11 |
$6,153,767 |
$2,237,224
$368,611 |
$3,547,932 |
| 12 |
$6,461,493 |
$2,351,083
$387,043 |
$3,723,367 |
| 13 |
$6,784,530 |
$2,470,606
$406,393 |
$3,907,531 |
| 14 |
$7,123,882 |
$2,596,167
$426,721 |
$4,100,994 |
| 15 |
$7,480,051 |
$2,727,949
$448,055 |
$4,304,047 |
| 16 |
$7,854,041 |
$2,866,326
$470,457 |
$4,517,258 |
| 17 |
$8,246,605 |
$3,011,574
$493,972 |
$4,741,059 |
| 18 |
$8,658,998 |
$3,164,160
$518,674 |
$4,976,164 |
| 19 |
$9,091,973 |
$3,324,360
$544,609 |
$5,223,004 |
| 20 |
$9,546,534 |
$3,492,548
$571,837 |
$5,482,149 |
| 21 |
$10,023,936 |
$3,669,187
$600,434 |
$5,754,315 |
| 22 |
$10,525,183 |
$3,854,648
$630,458 |
$6,040,077 |
| 23 |
$11,051,279 |
$4,049,304
$661,972 |
$6,340,003 |
| 24 |
$11,603,981 |
$4,253,803
$695,078 |
$6,655,100 |
| 25 |
$12,184,042 |
$4,468,426
$729,824 |
$6,985,792 |
| 26 |
$12,793,470 |
$4,693,914
$766,329 |
$7,333,227 |
| 27 |
$13,433,018 |
$4,930,547
$804,638 |
$7,697,833 |
| 28 |
$14,104,694 |
$5,179,067
$844,871 |
$8,080,756 |
| 29 |
$14,810,004 |
$5,440,032
$887,119 |
$8,482,853 |
| 30 |
$15,550,454 |
$5,713,998
$931,472 |
$8,904,984 |
|
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