The jackpot for the MEGA Millions draw on Fri Jul 24, 2026, is projected to be $743 Million, with an option for a cash payout of $323.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Jersey residents, the state will deduct 8% from your lottery earnings.
| New Jersey MEGA Millions Jackpot/Cash Option for Fri Jul 24, 2026 |
|---|
| Draw Date | Fri Jul 24, 2026 | | Projected Jackpot | $743,000,000 | | Cash Value | $323,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $323,400,000 | | Federal Tax(24%) | $77,616,000 | | Additional Federal Tax | $42,002,330 | | State Tax(8%) | $25,872,000 | | Net Lumpsum Payment | $177,909,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,182,893 |
$4,098,001
$894,631 |
$6,190,261 |
| 2 |
$11,742,372 |
$4,305,008
$939,390 |
$6,497,974 |
| 3 |
$12,329,342 |
$4,522,187
$986,347 |
$6,820,808 |
| 4 |
$12,946,032 |
$4,750,362
$1,035,683 |
$7,159,987 |
| 5 |
$13,593,185 |
$4,989,809
$1,087,455 |
$7,515,921 |
| 6 |
$14,273,030 |
$5,241,351
$1,141,842 |
$7,889,837 |
| 7 |
$14,986,310 |
$5,505,265
$1,198,905 |
$8,282,140 |
| 8 |
$15,735,997 |
$5,782,649
$1,258,880 |
$8,694,468 |
| 9 |
$16,522,834 |
$6,073,779
$1,321,827 |
$9,127,228 |
| 10 |
$17,349,050 |
$6,379,479
$1,387,924 |
$9,581,647 |
| 11 |
$18,216,131 |
$6,700,299
$1,457,290 |
$10,058,542 |
| 12 |
$19,127,049 |
$7,037,339
$1,530,164 |
$10,559,546 |
| 13 |
$20,083,290 |
$7,391,148
$1,606,663 |
$11,085,479 |
| 14 |
$21,087,826 |
$7,762,826
$1,687,026 |
$11,637,974 |
| 15 |
$22,142,143 |
$8,152,923
$1,771,371 |
$12,217,849 |
| 16 |
$23,249,213 |
$8,562,539
$1,859,937 |
$12,826,737 |
| 17 |
$24,411,265 |
$8,992,498
$1,952,901 |
$13,465,866 |
| 18 |
$25,632,014 |
$9,444,176
$2,050,561 |
$14,137,277 |
| 19 |
$26,913,689 |
$9,918,395
$2,153,095 |
$14,842,199 |
| 20 |
$28,259,262 |
$10,416,257
$2,260,741 |
$15,582,264 |
| 21 |
$29,672,448 |
$10,939,136
$2,373,796 |
$16,359,516 |
| 22 |
$31,156,219 |
$11,488,131
$2,492,498 |
$17,175,590 |
| 23 |
$32,713,547 |
$12,064,343
$2,617,084 |
$18,032,120 |
| 24 |
$34,349,633 |
$12,669,695
$2,747,971 |
$18,931,967 |
| 25 |
$36,066,706 |
$13,305,012
$2,885,336 |
$19,876,358 |
| 26 |
$37,870,710 |
$13,972,493
$3,029,657 |
$20,868,560 |
| 27 |
$39,763,874 |
$14,672,964
$3,181,110 |
$21,909,800 |
| 28 |
$41,752,142 |
$15,408,623
$3,340,171 |
$23,003,348 |
| 29 |
$43,839,972 |
$16,181,120
$3,507,198 |
$24,151,654 |
| 30 |
$46,031,822 |
$16,992,105
$3,682,546 |
$25,357,171 |
|
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