Maryland Lottery

MDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Maryland, your state will take 8.95% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Maryland MEGA Millions Jackpot/Cash Option for Tue May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(8.95%)	$9,290,100
Net Lumpsum Payment	$56,143,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$312,519	$1,927,005
2	$3,666,528	-$1,316,946 -$328,154	$2,021,428
3	$3,849,808	-$1,384,759 -$344,558	$2,120,491
4	$4,042,368	-$1,456,007 -$361,792	$2,224,569
5	$4,244,440	-$1,530,773 -$379,877	$2,333,790
6	$4,456,720	-$1,609,317 -$398,876	$2,448,527
7	$4,679,440	-$1,691,723 -$418,810	$2,568,907
8	$4,913,528	-$1,778,336 -$439,761	$2,695,431
9	$5,159,216	-$1,869,240 -$461,750	$2,828,226
10	$5,417,200	-$1,964,694 -$484,839	$2,967,667
11	$5,687,944	-$2,064,870 -$509,071	$3,114,003
12	$5,972,376	-$2,170,110 -$534,528	$3,267,738
13	$6,270,960	-$2,280,586 -$561,251	$3,429,123
14	$6,584,624	-$2,396,641 -$589,324	$3,598,659
15	$6,913,832	-$2,518,448 -$618,788	$3,776,596
16	$7,259,512	-$2,646,350 -$649,726	$3,963,436
17	$7,622,360	-$2,780,604 -$682,201	$4,159,555
18	$8,003,536	-$2,921,639 -$716,316	$4,365,581
19	$8,403,736	-$3,069,713 -$752,134	$4,581,889
20	$8,823,888	-$3,225,169 -$789,738	$4,808,981
21	$9,265,152	-$3,388,437 -$829,231	$5,047,484
22	$9,728,456	-$3,559,859 -$870,697	$5,297,900
23	$10,214,728	-$3,739,780 -$914,218	$5,560,730
24	$10,725,592	-$3,928,799 -$959,940	$5,836,853
25	$11,261,744	-$4,127,176 -$1,007,926	$6,126,642
26	$11,825,040	-$4,335,595 -$1,058,341	$6,431,104
27	$12,416,176	-$4,554,316 -$1,111,248	$6,750,612
28	$13,037,008	-$4,784,023 -$1,166,812	$7,086,173
29	$13,688,928	-$5,025,234 -$1,225,159	$7,438,535
30	$14,373,328	-$5,278,462 -$1,286,413	$7,808,453