The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(8%) | $1,064,000 | | Net Lumpsum Payment | $7,354,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$34,918 |
$279,733 |
| 2 |
$458,316 |
$129,907
$36,665 |
$291,744 |
| 3 |
$481,226 |
$138,384
$38,498 |
$304,344 |
| 4 |
$505,296 |
$147,290
$40,424 |
$317,582 |
| 5 |
$530,555 |
$156,636
$42,444 |
$331,475 |
| 6 |
$557,090 |
$166,454
$44,567 |
$346,069 |
| 7 |
$584,930 |
$176,754
$46,794 |
$361,382 |
| 8 |
$614,191 |
$187,581
$49,135 |
$377,475 |
| 9 |
$644,902 |
$198,944
$51,592 |
$394,366 |
| 10 |
$677,150 |
$210,876
$54,172 |
$412,102 |
| 11 |
$710,993 |
$223,398
$56,879 |
$430,716 |
| 12 |
$746,547 |
$236,553
$59,724 |
$450,270 |
| 13 |
$783,870 |
$250,362
$62,710 |
$470,798 |
| 14 |
$823,078 |
$264,869
$65,846 |
$492,363 |
| 15 |
$864,229 |
$280,095
$69,138 |
$514,996 |
| 16 |
$907,439 |
$296,083
$72,595 |
$538,761 |
| 17 |
$952,795 |
$312,865
$76,224 |
$563,706 |
| 18 |
$1,000,442 |
$330,494
$80,035 |
$589,913 |
| 19 |
$1,050,467 |
$349,003
$84,037 |
$617,427 |
| 20 |
$1,102,986 |
$368,435
$88,239 |
$646,312 |
| 21 |
$1,158,144 |
$388,844
$92,652 |
$676,648 |
| 22 |
$1,216,057 |
$410,271
$97,285 |
$708,501 |
| 23 |
$1,276,841 |
$432,762
$102,147 |
$741,932 |
| 24 |
$1,340,699 |
$456,389
$107,256 |
$777,054 |
| 25 |
$1,407,718 |
$481,186
$112,617 |
$813,915 |
| 26 |
$1,478,130 |
$507,238
$118,250 |
$852,642 |
| 27 |
$1,552,022 |
$534,579
$124,162 |
$893,281 |
| 28 |
$1,629,626 |
$563,292
$130,370 |
$935,964 |
| 29 |
$1,711,116 |
$593,443
$136,889 |
$980,784 |
| 30 |
$1,796,666 |
$625,097
$143,733 |
$1,027,836 |
|
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