The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 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 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(8%) | $5,760,000 | | Net Lumpsum Payment | $39,639,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$189,041 |
$1,339,323 |
| 2 |
$2,481,228 |
$878,385
$198,498 |
$1,404,345 |
| 3 |
$2,605,258 |
$924,276
$208,421 |
$1,472,561 |
| 4 |
$2,735,568 |
$972,491
$218,845 |
$1,544,232 |
| 5 |
$2,872,315 |
$1,023,087
$229,785 |
$1,619,443 |
| 6 |
$3,015,970 |
$1,076,239
$241,278 |
$1,698,453 |
| 7 |
$3,166,690 |
$1,132,006
$253,335 |
$1,781,349 |
| 8 |
$3,325,103 |
$1,190,618
$266,008 |
$1,868,477 |
| 9 |
$3,491,366 |
$1,252,136
$279,309 |
$1,959,921 |
| 10 |
$3,665,950 |
$1,316,732
$293,276 |
$2,055,942 |
| 11 |
$3,849,169 |
$1,384,523
$307,934 |
$2,156,712 |
| 12 |
$4,041,651 |
$1,455,741
$323,332 |
$2,262,578 |
| 13 |
$4,243,710 |
$1,530,503
$339,497 |
$2,373,710 |
| 14 |
$4,455,974 |
$1,609,041
$356,478 |
$2,490,455 |
| 15 |
$4,678,757 |
$1,691,470
$374,301 |
$2,612,986 |
| 16 |
$4,912,687 |
$1,778,025
$393,015 |
$2,741,647 |
| 17 |
$5,158,235 |
$1,868,877
$412,659 |
$2,876,699 |
| 18 |
$5,416,186 |
$1,964,319
$433,295 |
$3,018,572 |
| 19 |
$5,687,011 |
$2,064,524
$454,961 |
$3,167,526 |
| 20 |
$5,971,338 |
$2,169,725
$477,707 |
$3,323,906 |
| 21 |
$6,269,952 |
$2,280,213
$501,596 |
$3,488,143 |
| 22 |
$6,583,481 |
$2,396,218
$526,678 |
$3,660,585 |
| 23 |
$6,912,553 |
$2,517,975
$553,004 |
$3,841,574 |
| 24 |
$7,258,267 |
$2,645,889
$580,661 |
$4,031,717 |
| 25 |
$7,621,094 |
$2,780,135
$609,688 |
$4,231,271 |
| 26 |
$8,002,290 |
$2,921,178
$640,183 |
$4,440,929 |
| 27 |
$8,402,326 |
$3,069,191
$672,186 |
$4,660,949 |
| 28 |
$8,822,458 |
$3,224,640
$705,797 |
$4,892,021 |
| 29 |
$9,263,628 |
$3,387,873
$741,090 |
$5,134,665 |
| 30 |
$9,726,778 |
$3,559,238
$778,142 |
$5,389,398 |
|
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