The jackpot for the MEGA Millions draw on Fri Jan 23, 2026, is projected to be $266 Million, with an option for a cash payout of $120.8 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 Jan 23, 2026 |
|---|
| Draw Date | Fri Jan 23, 2026 | | Projected Jackpot | $266,000,000 | | Cash Value | $120,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $120,800,000 | | Federal Tax(24%) | $28,992,000 | | Additional Federal Tax | $15,664,330 | | State Tax(8%) | $9,664,000 | | Net Lumpsum Payment | $66,479,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,003,566 |
$1,441,650
$320,285 |
$2,241,631 |
| 2 |
$4,203,864 |
$1,515,760
$336,309 |
$2,351,795 |
| 3 |
$4,414,004 |
$1,593,512
$353,120 |
$2,467,372 |
| 4 |
$4,634,784 |
$1,675,200
$370,783 |
$2,588,801 |
| 5 |
$4,866,470 |
$1,760,924
$389,318 |
$2,716,228 |
| 6 |
$5,109,860 |
$1,850,979
$408,789 |
$2,850,092 |
| 7 |
$5,365,220 |
$1,945,462
$429,218 |
$2,990,540 |
| 8 |
$5,633,614 |
$2,044,768
$450,689 |
$3,138,157 |
| 9 |
$5,915,308 |
$2,148,994
$473,225 |
$3,293,089 |
| 10 |
$6,211,100 |
$2,258,437
$496,888 |
$3,455,775 |
| 11 |
$6,521,522 |
$2,373,294
$521,722 |
$3,626,506 |
| 12 |
$6,847,638 |
$2,493,956
$547,811 |
$3,805,871 |
| 13 |
$7,189,980 |
$2,620,623
$575,198 |
$3,994,159 |
| 14 |
$7,549,612 |
$2,753,687
$603,969 |
$4,191,956 |
| 15 |
$7,927,066 |
$2,893,345
$634,165 |
$4,399,556 |
| 16 |
$8,323,406 |
$3,039,991
$665,872 |
$4,617,543 |
| 17 |
$8,739,430 |
$3,193,919
$699,154 |
$4,846,357 |
| 18 |
$9,176,468 |
$3,355,624
$734,117 |
$5,086,727 |
| 19 |
$9,635,318 |
$3,525,398
$770,825 |
$5,339,095 |
| 20 |
$10,117,044 |
$3,703,637
$809,364 |
$5,604,043 |
| 21 |
$10,622,976 |
$3,890,832
$849,838 |
$5,882,306 |
| 22 |
$11,154,178 |
$4,087,376
$892,334 |
$6,174,468 |
| 23 |
$11,711,714 |
$4,293,665
$936,937 |
$6,481,112 |
| 24 |
$12,297,446 |
$4,510,385
$983,796 |
$6,803,265 |
| 25 |
$12,912,172 |
$4,737,834
$1,032,974 |
$7,141,364 |
| 26 |
$13,558,020 |
$4,976,798
$1,084,642 |
$7,496,580 |
| 27 |
$14,235,788 |
$5,227,572
$1,138,863 |
$7,869,353 |
| 28 |
$14,947,604 |
$5,490,944
$1,195,808 |
$8,260,852 |
| 29 |
$15,695,064 |
$5,767,504
$1,255,605 |
$8,671,955 |
| 30 |
$16,479,764 |
$6,057,843
$1,318,381 |
$9,103,540 |
|
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