New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 22, 2026 is estimated to be $296 Million, with a cash option of 128.6 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 Fri May 22, 2026

Draw Date	Jackpot	Cash Option
Fri May 22, 2026	$296,000,000	$128,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$128,600,000
Federal Tax(24%)	$30,864,000
Additional Federal Tax	$16,678,330
State Tax(8%)	$10,288,000
Net Lumpsum Payment	$70,769,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,455,096	-$1,608,716 -$356,408	$2,489,972
2	$4,677,984	-$1,691,184 -$374,239	$2,612,561
3	$4,911,824	-$1,777,705 -$392,946	$2,741,173
4	$5,157,504	-$1,868,607 -$412,600	$2,876,297
5	$5,415,320	-$1,963,999 -$433,226	$3,018,095
6	$5,686,160	-$2,064,210 -$454,893	$3,167,057
7	$5,970,320	-$2,169,349 -$477,626	$3,323,345
8	$6,268,984	-$2,279,854 -$501,519	$3,487,611
9	$6,582,448	-$2,395,836 -$526,596	$3,660,016
10	$6,911,600	-$2,517,622 -$552,928	$3,841,050
11	$7,257,032	-$2,645,432 -$580,563	$4,031,037
12	$7,619,928	-$2,779,704 -$609,594	$4,230,630
13	$8,000,880	-$2,920,656 -$640,070	$4,440,154
14	$8,401,072	-$3,068,727 -$672,086	$4,660,259
15	$8,821,096	-$3,224,136 -$705,688	$4,891,272
16	$9,262,136	-$3,387,321 -$740,971	$5,133,844
17	$9,725,080	-$3,558,610 -$778,006	$5,388,464
18	$10,211,408	-$3,738,551 -$816,913	$5,655,944
19	$10,722,008	-$3,927,473 -$857,761	$5,936,774
20	$11,258,064	-$4,125,814 -$900,645	$6,231,605
21	$11,821,056	-$4,334,121 -$945,684	$6,541,251
22	$12,412,168	-$4,552,833 -$992,973	$6,866,362
23	$13,032,584	-$4,782,386 -$1,042,607	$7,207,591
24	$13,684,376	-$5,023,550 -$1,094,750	$7,566,076
25	$14,368,432	-$5,276,650 -$1,149,475	$7,942,307
26	$15,087,120	-$5,542,565 -$1,206,970	$8,337,585
27	$15,841,328	-$5,821,622 -$1,267,306	$8,752,400
28	$16,633,424	-$6,114,697 -$1,330,674	$9,188,053
29	$17,465,184	-$6,422,448 -$1,397,215	$9,645,521
30	$18,338,384	-$6,745,532 -$1,467,071	$10,125,781