The jackpot for the MEGA Millions draw on Tue Jul 7, 2026, is projected to be $576 Million, with an option for a cash payout of $253.9 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 Tue Jul 7, 2026 |
|---|
| Draw Date | Tue Jul 7, 2026 | | Projected Jackpot | $576,000,000 | | Cash Value | $253,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $253,900,000 | | Federal Tax(24%) | $60,936,000 | | Additional Federal Tax | $32,967,330 | | State Tax(8%) | $20,312,000 | | Net Lumpsum Payment | $139,684,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,669,376 |
$3,168,000
$693,550 |
$4,807,826 |
| 2 |
$9,103,104 |
$3,328,479
$728,248 |
$5,046,377 |
| 3 |
$9,558,144 |
$3,496,844
$764,652 |
$5,296,648 |
| 4 |
$10,036,224 |
$3,673,733
$802,898 |
$5,559,593 |
| 5 |
$10,537,920 |
$3,859,361
$843,034 |
$5,835,525 |
| 6 |
$11,064,960 |
$4,054,366
$885,197 |
$6,125,397 |
| 7 |
$11,617,920 |
$4,258,961
$929,434 |
$6,429,525 |
| 8 |
$12,199,104 |
$4,473,999
$975,928 |
$6,749,177 |
| 9 |
$12,809,088 |
$4,699,693
$1,024,727 |
$7,084,668 |
| 10 |
$13,449,600 |
$4,936,682
$1,075,968 |
$7,436,950 |
| 11 |
$14,121,792 |
$5,185,393
$1,129,743 |
$7,806,656 |
| 12 |
$14,827,968 |
$5,446,679
$1,186,237 |
$8,195,052 |
| 13 |
$15,569,280 |
$5,720,964
$1,245,542 |
$8,602,774 |
| 14 |
$16,348,032 |
$6,009,102
$1,307,843 |
$9,031,087 |
| 15 |
$17,165,376 |
$6,311,520
$1,373,230 |
$9,480,626 |
| 16 |
$18,023,616 |
$6,629,068
$1,441,889 |
$9,952,659 |
| 17 |
$18,924,480 |
$6,962,388
$1,513,958 |
$10,448,134 |
| 18 |
$19,870,848 |
$7,312,544
$1,589,668 |
$10,968,636 |
| 19 |
$20,864,448 |
$7,680,176
$1,669,156 |
$11,515,116 |
| 20 |
$21,907,584 |
$8,066,136
$1,752,607 |
$12,088,841 |
| 21 |
$23,003,136 |
$8,471,491
$1,840,251 |
$12,691,394 |
| 22 |
$24,153,408 |
$8,897,091
$1,932,273 |
$13,324,044 |
| 23 |
$25,360,704 |
$9,343,791
$2,028,856 |
$13,988,057 |
| 24 |
$26,629,056 |
$9,813,081
$2,130,324 |
$14,685,651 |
| 25 |
$27,960,192 |
$10,305,601
$2,236,815 |
$15,417,776 |
| 26 |
$29,358,720 |
$10,823,057
$2,348,698 |
$16,186,965 |
| 27 |
$30,826,368 |
$11,366,087
$2,466,109 |
$16,994,172 |
| 28 |
$32,367,744 |
$11,936,396
$2,589,420 |
$17,841,928 |
| 29 |
$33,986,304 |
$12,535,263
$2,718,904 |
$18,732,137 |
| 30 |
$35,685,504 |
$13,163,967
$2,854,840 |
$19,666,697 |
|
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