New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 17, 2026 is estimated to be $395 Million, with a cash option of 183.3 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 Feb 17, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 17, 2026	$395,000,000	$183,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$183,300,000
Federal Tax(24%)	$43,992,000
Additional Federal Tax	$23,789,330
State Tax(8%)	$14,664,000
Net Lumpsum Payment	$100,854,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,945,145	-$2,160,034 -$475,612	$3,309,499
2	$6,242,580	-$2,270,085 -$499,406	$3,473,089
3	$6,554,630	-$2,385,543 -$524,370	$3,644,717
4	$6,882,480	-$2,506,848 -$550,598	$3,825,034
5	$7,226,525	-$2,634,145 -$578,122	$4,014,258
6	$7,587,950	-$2,767,872 -$607,036	$4,213,042
7	$7,967,150	-$2,908,176 -$637,372	$4,421,602
8	$8,365,705	-$3,055,641 -$669,256	$4,640,808
9	$8,784,010	-$3,210,414 -$702,721	$4,870,875
10	$9,223,250	-$3,372,933 -$737,860	$5,112,457
11	$9,684,215	-$3,543,490 -$774,737	$5,365,988
12	$10,168,485	-$3,722,670 -$813,479	$5,632,336
13	$10,676,850	-$3,910,765 -$854,148	$5,911,937
14	$11,210,890	-$4,108,360 -$896,871	$6,205,659
15	$11,771,395	-$4,315,747 -$941,712	$6,513,936
16	$12,359,945	-$4,533,510 -$988,796	$6,837,639
17	$12,977,725	-$4,762,089 -$1,038,218	$7,177,418
18	$13,626,710	-$5,002,213 -$1,090,137	$7,534,360
19	$14,308,085	-$5,254,322 -$1,144,647	$7,909,116
20	$15,023,430	-$5,518,999 -$1,201,874	$8,302,557
21	$15,774,720	-$5,796,977 -$1,261,978	$8,715,765
22	$16,563,535	-$6,088,838 -$1,325,083	$9,149,614
23	$17,391,455	-$6,395,169 -$1,391,316	$9,604,970
24	$18,261,245	-$6,716,991 -$1,460,900	$10,083,354
25	$19,174,090	-$7,054,744 -$1,533,927	$10,585,419
26	$20,133,150	-$7,409,596 -$1,610,652	$11,112,902
27	$21,139,610	-$7,781,986 -$1,691,169	$11,666,455
28	$22,196,630	-$8,173,083 -$1,775,730	$12,247,817
29	$23,306,580	-$8,583,765 -$1,864,526	$12,858,289
30	$24,471,830	-$9,014,907 -$1,957,746	$13,499,177