New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(8%)	$11,168,000
Net Lumpsum Payment	$76,819,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$415,408	$2,895,596
2	$5,452,380	-$1,977,711 -$436,190	$3,038,479
3	$5,724,930	-$2,078,554 -$457,994	$3,188,382
4	$6,011,280	-$2,184,504 -$480,902	$3,345,874
5	$6,311,775	-$2,295,687 -$504,942	$3,511,146
6	$6,627,450	-$2,412,487 -$530,196	$3,684,767
7	$6,958,650	-$2,535,031 -$556,692	$3,866,927
8	$7,306,755	-$2,663,830 -$584,540	$4,058,385
9	$7,672,110	-$2,799,011 -$613,769	$4,259,330
10	$8,055,750	-$2,940,958 -$644,460	$4,470,332
11	$8,458,365	-$3,089,925 -$676,669	$4,691,771
12	$8,881,335	-$3,246,424 -$710,507	$4,924,404
13	$9,325,350	-$3,410,710 -$746,028	$5,168,612
14	$9,791,790	-$3,583,293 -$783,343	$5,425,154
15	$10,281,345	-$3,764,428 -$822,508	$5,694,409
16	$10,795,395	-$3,954,627 -$863,632	$5,977,136
17	$11,334,975	-$4,154,271 -$906,798	$6,273,906
18	$11,901,810	-$4,364,000 -$952,145	$6,585,665
19	$12,496,935	-$4,584,196 -$999,755	$6,912,984
20	$13,121,730	-$4,815,370 -$1,049,738	$7,256,622
21	$13,777,920	-$5,058,161 -$1,102,234	$7,617,525
22	$14,466,885	-$5,313,078 -$1,157,351	$7,996,456
23	$15,190,005	-$5,580,632 -$1,215,200	$8,394,173
24	$15,949,695	-$5,861,718 -$1,275,976	$8,812,001
25	$16,746,990	-$6,156,717 -$1,339,759	$9,250,514
26	$17,584,650	-$6,466,651 -$1,406,772	$9,711,227
27	$18,463,710	-$6,791,903 -$1,477,097	$10,194,710
28	$19,386,930	-$7,133,494 -$1,550,954	$10,702,482
29	$20,356,380	-$7,492,191 -$1,628,510	$11,235,679
30	$21,374,130	-$7,868,758 -$1,709,930	$11,795,442