New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 23, 2026 is estimated to be $266 Million, with a cash option of 120.8 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 Fri Jan 23, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 23, 2026	$266,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(8%)	$9,664,000
Net Lumpsum Payment	$66,479,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$320,285	$2,241,631
2	$4,203,864	-$1,515,760 -$336,309	$2,351,795
3	$4,414,004	-$1,593,512 -$353,120	$2,467,372
4	$4,634,784	-$1,675,200 -$370,783	$2,588,801
5	$4,866,470	-$1,760,924 -$389,318	$2,716,228
6	$5,109,860	-$1,850,979 -$408,789	$2,850,092
7	$5,365,220	-$1,945,462 -$429,218	$2,990,540
8	$5,633,614	-$2,044,768 -$450,689	$3,138,157
9	$5,915,308	-$2,148,994 -$473,225	$3,293,089
10	$6,211,100	-$2,258,437 -$496,888	$3,455,775
11	$6,521,522	-$2,373,294 -$521,722	$3,626,506
12	$6,847,638	-$2,493,956 -$547,811	$3,805,871
13	$7,189,980	-$2,620,623 -$575,198	$3,994,159
14	$7,549,612	-$2,753,687 -$603,969	$4,191,956
15	$7,927,066	-$2,893,345 -$634,165	$4,399,556
16	$8,323,406	-$3,039,991 -$665,872	$4,617,543
17	$8,739,430	-$3,193,919 -$699,154	$4,846,357
18	$9,176,468	-$3,355,624 -$734,117	$5,086,727
19	$9,635,318	-$3,525,398 -$770,825	$5,339,095
20	$10,117,044	-$3,703,637 -$809,364	$5,604,043
21	$10,622,976	-$3,890,832 -$849,838	$5,882,306
22	$11,154,178	-$4,087,376 -$892,334	$6,174,468
23	$11,711,714	-$4,293,665 -$936,937	$6,481,112
24	$12,297,446	-$4,510,385 -$983,796	$6,803,265
25	$12,912,172	-$4,737,834 -$1,032,974	$7,141,364
26	$13,558,020	-$4,976,798 -$1,084,642	$7,496,580
27	$14,235,788	-$5,227,572 -$1,138,863	$7,869,353
28	$14,947,604	-$5,490,944 -$1,195,808	$8,260,852
29	$15,695,064	-$5,767,504 -$1,255,605	$8,671,955
30	$16,479,764	-$6,057,843 -$1,318,381	$9,103,540