New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 3, 2026 is estimated to be $323 Million, with a cash option of 145.7 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 3, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 3, 2026	$323,000,000	$145,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$145,700,000
Federal Tax(24%)	$34,968,000
Additional Federal Tax	$18,901,330
State Tax(8%)	$11,656,000
Net Lumpsum Payment	$80,174,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,861,473	-$1,759,075 -$388,918	$2,713,480
2	$5,104,692	-$1,849,066 -$408,375	$2,847,251
3	$5,359,862	-$1,943,479 -$428,789	$2,987,594
4	$5,627,952	-$2,042,673 -$450,236	$3,135,043
5	$5,909,285	-$2,146,766 -$472,743	$3,289,776
6	$6,204,830	-$2,256,117 -$496,386	$3,452,327
7	$6,514,910	-$2,370,847 -$521,193	$3,622,870
8	$6,840,817	-$2,491,433 -$547,265	$3,802,119
9	$7,182,874	-$2,617,994 -$574,630	$3,990,250
10	$7,542,050	-$2,750,889 -$603,364	$4,187,797
11	$7,918,991	-$2,890,357 -$633,519	$4,395,115
12	$8,314,989	-$3,036,876 -$665,199	$4,612,914
13	$8,730,690	-$3,190,686 -$698,455	$4,841,549
14	$9,167,386	-$3,352,263 -$733,391	$5,081,732
15	$9,625,723	-$3,521,848 -$770,058	$5,333,817
16	$10,106,993	-$3,699,918 -$808,559	$5,598,516
17	$10,612,165	-$3,886,831 -$848,973	$5,876,361
18	$11,142,854	-$4,083,186 -$891,428	$6,168,240
19	$11,700,029	-$4,289,341 -$936,002	$6,474,686
20	$12,284,982	-$4,505,774 -$982,799	$6,796,409
21	$12,899,328	-$4,733,082 -$1,031,946	$7,134,300
22	$13,544,359	-$4,971,743 -$1,083,549	$7,489,067
23	$14,221,367	-$5,222,236 -$1,137,709	$7,861,422
24	$14,932,613	-$5,485,397 -$1,194,609	$8,252,607
25	$15,679,066	-$5,761,585 -$1,254,325	$8,663,156
26	$16,463,310	-$6,051,755 -$1,317,065	$9,094,490
27	$17,286,314	-$6,356,267 -$1,382,905	$9,547,142
28	$18,150,662	-$6,676,075 -$1,452,053	$10,022,534
29	$19,058,292	-$7,011,898 -$1,524,663	$10,521,731
30	$20,011,142	-$7,364,453 -$1,600,891	$11,045,798