New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Jersey MEGA Millions Jackpot/Cash Option for Tue May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(8%)	$8,304,000
Net Lumpsum Payment	$57,129,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$279,347	$1,960,177
2	$3,666,528	-$1,316,946 -$293,322	$2,056,260
3	$3,849,808	-$1,384,759 -$307,985	$2,157,064
4	$4,042,368	-$1,456,007 -$323,389	$2,262,972
5	$4,244,440	-$1,530,773 -$339,555	$2,374,112
6	$4,456,720	-$1,609,317 -$356,538	$2,490,865
7	$4,679,440	-$1,691,723 -$374,355	$2,613,362
8	$4,913,528	-$1,778,336 -$393,082	$2,742,110
9	$5,159,216	-$1,869,240 -$412,737	$2,877,239
10	$5,417,200	-$1,964,694 -$433,376	$3,019,130
11	$5,687,944	-$2,064,870 -$455,036	$3,168,038
12	$5,972,376	-$2,170,110 -$477,790	$3,324,476
13	$6,270,960	-$2,280,586 -$501,677	$3,488,697
14	$6,584,624	-$2,396,641 -$526,770	$3,661,213
15	$6,913,832	-$2,518,448 -$553,107	$3,842,277
16	$7,259,512	-$2,646,350 -$580,761	$4,032,401
17	$7,622,360	-$2,780,604 -$609,789	$4,231,967
18	$8,003,536	-$2,921,639 -$640,283	$4,441,614
19	$8,403,736	-$3,069,713 -$672,299	$4,661,724
20	$8,823,888	-$3,225,169 -$705,911	$4,892,808
21	$9,265,152	-$3,388,437 -$741,212	$5,135,503
22	$9,728,456	-$3,559,859 -$778,276	$5,390,321
23	$10,214,728	-$3,739,780 -$817,178	$5,657,770
24	$10,725,592	-$3,928,799 -$858,047	$5,938,746
25	$11,261,744	-$4,127,176 -$900,940	$6,233,628
26	$11,825,040	-$4,335,595 -$946,003	$6,543,442
27	$12,416,176	-$4,554,316 -$993,294	$6,868,566
28	$13,037,008	-$4,784,023 -$1,042,961	$7,210,024
29	$13,688,928	-$5,025,234 -$1,095,114	$7,568,580
30	$14,373,328	-$5,278,462 -$1,149,866	$7,945,000