The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 Million, with an option for a cash payout of $145.7 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 Feb 3, 2026 |
|---|
| Draw Date | Tue Feb 3, 2026 | | Projected Jackpot | $323,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(8%) | $11,656,000 | | Net Lumpsum Payment | $80,174,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,861,473 |
$1,759,075
$388,918 |
$2,713,480 |
| 2 |
$5,104,692 |
$1,849,066
$408,375 |
$2,847,251 |
| 3 |
$5,359,862 |
$1,943,479
$428,789 |
$2,987,594 |
| 4 |
$5,627,952 |
$2,042,673
$450,236 |
$3,135,043 |
| 5 |
$5,909,285 |
$2,146,766
$472,743 |
$3,289,776 |
| 6 |
$6,204,830 |
$2,256,117
$496,386 |
$3,452,327 |
| 7 |
$6,514,910 |
$2,370,847
$521,193 |
$3,622,870 |
| 8 |
$6,840,817 |
$2,491,433
$547,265 |
$3,802,119 |
| 9 |
$7,182,874 |
$2,617,994
$574,630 |
$3,990,250 |
| 10 |
$7,542,050 |
$2,750,889
$603,364 |
$4,187,797 |
| 11 |
$7,918,991 |
$2,890,357
$633,519 |
$4,395,115 |
| 12 |
$8,314,989 |
$3,036,876
$665,199 |
$4,612,914 |
| 13 |
$8,730,690 |
$3,190,686
$698,455 |
$4,841,549 |
| 14 |
$9,167,386 |
$3,352,263
$733,391 |
$5,081,732 |
| 15 |
$9,625,723 |
$3,521,848
$770,058 |
$5,333,817 |
| 16 |
$10,106,993 |
$3,699,918
$808,559 |
$5,598,516 |
| 17 |
$10,612,165 |
$3,886,831
$848,973 |
$5,876,361 |
| 18 |
$11,142,854 |
$4,083,186
$891,428 |
$6,168,240 |
| 19 |
$11,700,029 |
$4,289,341
$936,002 |
$6,474,686 |
| 20 |
$12,284,982 |
$4,505,774
$982,799 |
$6,796,409 |
| 21 |
$12,899,328 |
$4,733,082
$1,031,946 |
$7,134,300 |
| 22 |
$13,544,359 |
$4,971,743
$1,083,549 |
$7,489,067 |
| 23 |
$14,221,367 |
$5,222,236
$1,137,709 |
$7,861,422 |
| 24 |
$14,932,613 |
$5,485,397
$1,194,609 |
$8,252,607 |
| 25 |
$15,679,066 |
$5,761,585
$1,254,325 |
$8,663,156 |
| 26 |
$16,463,310 |
$6,051,755
$1,317,065 |
$9,094,490 |
| 27 |
$17,286,314 |
$6,356,267
$1,382,905 |
$9,547,142 |
| 28 |
$18,150,662 |
$6,676,075
$1,452,053 |
$10,022,534 |
| 29 |
$19,058,292 |
$7,011,898
$1,524,663 |
$10,521,731 |
| 30 |
$20,011,142 |
$7,364,453
$1,600,891 |
$11,045,798 |
|
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