New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jul 24, 2026 is estimated to be $743 Million, with a cash option of 323.4 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 Jul 24, 2026

Draw Date	Jackpot	Cash Option
Fri Jul 24, 2026	$743,000,000	$323,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$323,400,000
Federal Tax(24%)	$77,616,000
Additional Federal Tax	$42,002,330
State Tax(8%)	$25,872,000
Net Lumpsum Payment	$177,909,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,182,893	-$4,098,001 -$894,631	$6,190,261
2	$11,742,372	-$4,305,008 -$939,390	$6,497,974
3	$12,329,342	-$4,522,187 -$986,347	$6,820,808
4	$12,946,032	-$4,750,362 -$1,035,683	$7,159,987
5	$13,593,185	-$4,989,809 -$1,087,455	$7,515,921
6	$14,273,030	-$5,241,351 -$1,141,842	$7,889,837
7	$14,986,310	-$5,505,265 -$1,198,905	$8,282,140
8	$15,735,997	-$5,782,649 -$1,258,880	$8,694,468
9	$16,522,834	-$6,073,779 -$1,321,827	$9,127,228
10	$17,349,050	-$6,379,479 -$1,387,924	$9,581,647
11	$18,216,131	-$6,700,299 -$1,457,290	$10,058,542
12	$19,127,049	-$7,037,339 -$1,530,164	$10,559,546
13	$20,083,290	-$7,391,148 -$1,606,663	$11,085,479
14	$21,087,826	-$7,762,826 -$1,687,026	$11,637,974
15	$22,142,143	-$8,152,923 -$1,771,371	$12,217,849
16	$23,249,213	-$8,562,539 -$1,859,937	$12,826,737
17	$24,411,265	-$8,992,498 -$1,952,901	$13,465,866
18	$25,632,014	-$9,444,176 -$2,050,561	$14,137,277
19	$26,913,689	-$9,918,395 -$2,153,095	$14,842,199
20	$28,259,262	-$10,416,257 -$2,260,741	$15,582,264
21	$29,672,448	-$10,939,136 -$2,373,796	$16,359,516
22	$31,156,219	-$11,488,131 -$2,492,498	$17,175,590
23	$32,713,547	-$12,064,343 -$2,617,084	$18,032,120
24	$34,349,633	-$12,669,695 -$2,747,971	$18,931,967
25	$36,066,706	-$13,305,012 -$2,885,336	$19,876,358
26	$37,870,710	-$13,972,493 -$3,029,657	$20,868,560
27	$39,763,874	-$14,672,964 -$3,181,110	$21,909,800
28	$41,752,142	-$15,408,623 -$3,340,171	$23,003,348
29	$43,839,972	-$16,181,120 -$3,507,198	$24,151,654
30	$46,031,822	-$16,992,105 -$3,682,546	$25,357,171