New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 7, 2026 is estimated to be $576 Million, with a cash option of 253.9 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 Jul 7, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 7, 2026	$576,000,000	$253,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$253,900,000
Federal Tax(24%)	$60,936,000
Additional Federal Tax	$32,967,330
State Tax(8%)	$20,312,000
Net Lumpsum Payment	$139,684,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,669,376	-$3,168,000 -$693,550	$4,807,826
2	$9,103,104	-$3,328,479 -$728,248	$5,046,377
3	$9,558,144	-$3,496,844 -$764,652	$5,296,648
4	$10,036,224	-$3,673,733 -$802,898	$5,559,593
5	$10,537,920	-$3,859,361 -$843,034	$5,835,525
6	$11,064,960	-$4,054,366 -$885,197	$6,125,397
7	$11,617,920	-$4,258,961 -$929,434	$6,429,525
8	$12,199,104	-$4,473,999 -$975,928	$6,749,177
9	$12,809,088	-$4,699,693 -$1,024,727	$7,084,668
10	$13,449,600	-$4,936,682 -$1,075,968	$7,436,950
11	$14,121,792	-$5,185,393 -$1,129,743	$7,806,656
12	$14,827,968	-$5,446,679 -$1,186,237	$8,195,052
13	$15,569,280	-$5,720,964 -$1,245,542	$8,602,774
14	$16,348,032	-$6,009,102 -$1,307,843	$9,031,087
15	$17,165,376	-$6,311,520 -$1,373,230	$9,480,626
16	$18,023,616	-$6,629,068 -$1,441,889	$9,952,659
17	$18,924,480	-$6,962,388 -$1,513,958	$10,448,134
18	$19,870,848	-$7,312,544 -$1,589,668	$10,968,636
19	$20,864,448	-$7,680,176 -$1,669,156	$11,515,116
20	$21,907,584	-$8,066,136 -$1,752,607	$12,088,841
21	$23,003,136	-$8,471,491 -$1,840,251	$12,691,394
22	$24,153,408	-$8,897,091 -$1,932,273	$13,324,044
23	$25,360,704	-$9,343,791 -$2,028,856	$13,988,057
24	$26,629,056	-$9,813,081 -$2,130,324	$14,685,651
25	$27,960,192	-$10,305,601 -$2,236,815	$15,417,776
26	$29,358,720	-$10,823,057 -$2,348,698	$16,186,965
27	$30,826,368	-$11,366,087 -$2,466,109	$16,994,172
28	$32,367,744	-$11,936,396 -$2,589,420	$17,841,928
29	$33,986,304	-$12,535,263 -$2,718,904	$18,732,137
30	$35,685,504	-$13,163,967 -$2,854,840	$19,666,697