New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(8%)	$11,168,000
Net Lumpsum Payment	$76,819,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$415,408	$2,895,596
2	$5,452,380	-$1,977,711 -$436,190	$3,038,479
3	$5,724,930	-$2,078,554 -$457,994	$3,188,382
4	$6,011,280	-$2,184,504 -$480,902	$3,345,874
5	$6,311,775	-$2,295,687 -$504,942	$3,511,146
6	$6,627,450	-$2,412,487 -$530,196	$3,684,767
7	$6,958,650	-$2,535,031 -$556,692	$3,866,927
8	$7,306,755	-$2,663,830 -$584,540	$4,058,385
9	$7,672,110	-$2,799,011 -$613,769	$4,259,330
10	$8,055,750	-$2,940,958 -$644,460	$4,470,332
11	$8,458,365	-$3,089,925 -$676,669	$4,691,771
12	$8,881,335	-$3,246,424 -$710,507	$4,924,404
13	$9,325,350	-$3,410,710 -$746,028	$5,168,612
14	$9,791,790	-$3,583,293 -$783,343	$5,425,154
15	$10,281,345	-$3,764,428 -$822,508	$5,694,409
16	$10,795,395	-$3,954,627 -$863,632	$5,977,136
17	$11,334,975	-$4,154,271 -$906,798	$6,273,906
18	$11,901,810	-$4,364,000 -$952,145	$6,585,665
19	$12,496,935	-$4,584,196 -$999,755	$6,912,984
20	$13,121,730	-$4,815,370 -$1,049,738	$7,256,622
21	$13,777,920	-$5,058,161 -$1,102,234	$7,617,525
22	$14,466,885	-$5,313,078 -$1,157,351	$7,996,456
23	$15,190,005	-$5,580,632 -$1,215,200	$8,394,173
24	$15,949,695	-$5,861,718 -$1,275,976	$8,812,001
25	$16,746,990	-$6,156,717 -$1,339,759	$9,250,514
26	$17,584,650	-$6,466,651 -$1,406,772	$9,711,227
27	$18,463,710	-$6,791,903 -$1,477,097	$10,194,710
28	$19,386,930	-$7,133,494 -$1,550,954	$10,702,482
29	$20,356,380	-$7,492,191 -$1,628,510	$11,235,679
30	$21,374,130	-$7,868,758 -$1,709,930	$11,795,442