The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(8%) | $12,968,000 | | Net Lumpsum Payment | $89,194,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$485,244 |
$3,375,724 |
| 2 |
$6,369,012 |
$2,316,865
$509,521 |
$3,542,626 |
| 3 |
$6,687,382 |
$2,434,662
$534,991 |
$3,717,729 |
| 4 |
$7,021,872 |
$2,558,423
$561,750 |
$3,901,699 |
| 5 |
$7,372,885 |
$2,688,298
$589,831 |
$4,094,756 |
| 6 |
$7,741,630 |
$2,824,733
$619,330 |
$4,297,567 |
| 7 |
$8,128,510 |
$2,967,879
$650,281 |
$4,510,350 |
| 8 |
$8,535,137 |
$3,118,331
$682,811 |
$4,733,995 |
| 9 |
$8,961,914 |
$3,276,239
$716,953 |
$4,968,722 |
| 10 |
$9,410,050 |
$3,442,049
$752,804 |
$5,215,197 |
| 11 |
$9,880,351 |
$3,616,060
$790,428 |
$5,473,863 |
| 12 |
$10,374,429 |
$3,798,869
$829,954 |
$5,745,606 |
| 13 |
$10,893,090 |
$3,990,774
$871,447 |
$6,030,869 |
| 14 |
$11,437,946 |
$4,192,370
$915,036 |
$6,330,540 |
| 15 |
$12,009,803 |
$4,403,957
$960,784 |
$6,645,062 |
| 16 |
$12,610,273 |
$4,626,131
$1,008,822 |
$6,975,320 |
| 17 |
$13,240,565 |
$4,859,339
$1,059,245 |
$7,321,981 |
| 18 |
$13,902,694 |
$5,104,327
$1,112,216 |
$7,686,151 |
| 19 |
$14,597,869 |
$5,361,542
$1,167,830 |
$8,068,497 |
| 20 |
$15,327,702 |
$5,631,580
$1,226,216 |
$8,469,906 |
| 21 |
$16,094,208 |
$5,915,187
$1,287,537 |
$8,891,484 |
| 22 |
$16,898,999 |
$6,212,960
$1,351,920 |
$9,334,119 |
| 23 |
$17,743,687 |
$6,525,495
$1,419,495 |
$9,798,697 |
| 24 |
$18,631,093 |
$6,853,835
$1,490,487 |
$10,286,771 |
| 25 |
$19,562,426 |
$7,198,428
$1,564,994 |
$10,799,004 |
| 26 |
$20,540,910 |
$7,560,467
$1,643,273 |
$11,337,170 |
| 27 |
$21,567,754 |
$7,940,399
$1,725,420 |
$11,901,935 |
| 28 |
$22,646,182 |
$8,339,418
$1,811,695 |
$12,495,069 |
| 29 |
$23,778,612 |
$8,758,417
$1,902,289 |
$13,117,906 |
| 30 |
$24,967,462 |
$9,198,291
$1,997,397 |
$13,771,774 |
|
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