New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 24, 2026 is estimated to be $438 Million, with a cash option of 203.1 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 New Jersey, your state will take 8% 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.

New Jersey MEGA Millions Jackpot/Cash Option for Tue Feb 24, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 24, 2026	$438,000,000	$203,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$203,100,000
Federal Tax(24%)	$48,744,000
Additional Federal Tax	$26,363,330
State Tax(8%)	$16,248,000
Net Lumpsum Payment	$111,744,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,592,338	-$2,399,495 -$527,387	$3,665,456
2	$6,922,152	-$2,521,527 -$553,772	$3,846,853
3	$7,268,172	-$2,649,554 -$581,454	$4,037,164
4	$7,631,712	-$2,784,064 -$610,537	$4,237,111
5	$8,013,210	-$2,925,218 -$641,057	$4,446,935
6	$8,413,980	-$3,073,503 -$673,118	$4,667,359
7	$8,834,460	-$3,229,081 -$706,757	$4,898,622
8	$9,276,402	-$3,392,599 -$742,112	$5,141,691
9	$9,740,244	-$3,564,221 -$779,220	$5,396,803
10	$10,227,300	-$3,744,431 -$818,184	$5,664,685
11	$10,738,446	-$3,933,555 -$859,076	$5,945,815
12	$11,275,434	-$4,132,241 -$902,035	$6,241,158
13	$11,839,140	-$4,340,812 -$947,131	$6,551,197
14	$12,431,316	-$4,559,917 -$994,505	$6,876,894
15	$13,052,838	-$4,789,880 -$1,044,227	$7,218,731
16	$13,705,458	-$5,031,350 -$1,096,437	$7,577,671
17	$14,390,490	-$5,284,812 -$1,151,239	$7,954,439
18	$15,110,124	-$5,551,076 -$1,208,810	$8,350,238
19	$15,865,674	-$5,830,630 -$1,269,254	$8,765,790
20	$16,658,892	-$6,124,120 -$1,332,711	$9,202,061
21	$17,491,968	-$6,432,359 -$1,399,357	$9,660,252
22	$18,366,654	-$6,755,992 -$1,469,332	$10,141,330
23	$19,284,702	-$7,095,670 -$1,542,776	$10,646,256
24	$20,249,178	-$7,452,526 -$1,619,934	$11,176,718
25	$21,261,396	-$7,827,047 -$1,700,912	$11,733,437
26	$22,324,860	-$8,220,529 -$1,785,989	$12,318,342
27	$23,440,884	-$8,633,457 -$1,875,271	$12,932,156
28	$24,612,972	-$9,067,130 -$1,969,038	$13,576,804
29	$25,843,752	-$9,522,519 -$2,067,500	$14,253,733
30	$27,135,852	-$10,000,596 -$2,170,868	$14,964,388