Jackpot Analysis New Jersey Mega Millions

Jackpot Analysis for New Jersey Mega Millions
The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 Aug 8, 2025
Draw DateFri Aug 8, 2025
Projected Jackpot$166,000,000
Cash Value$75,200,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$75,200,000
Federal Tax(24%)$18,048,000
Additional Federal Tax$9,736,330
State Tax(8%)$6,016,000
Net Lumpsum Payment$41,399,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,498,466 $884,763
$199,877
$1,413,826
2 $2,623,464 $931,012
$209,877
$1,482,575
3 $2,754,604 $979,534
$220,368
$1,554,702
4 $2,892,384 $1,030,512
$231,391
$1,630,481
5 $3,036,970 $1,084,009
$242,958
$1,710,003
6 $3,188,860 $1,140,209
$255,109
$1,793,542
7 $3,348,220 $1,199,172
$267,858
$1,881,190
8 $3,515,714 $1,261,145
$281,257
$1,973,312
9 $3,691,508 $1,326,188
$295,321
$2,069,999
10 $3,876,100 $1,394,487
$310,088
$2,171,525
11 $4,069,822 $1,466,165
$325,586
$2,278,071
12 $4,273,338 $1,541,465
$341,867
$2,390,006
13 $4,486,980 $1,620,513
$358,958
$2,507,509
14 $4,711,412 $1,703,553
$376,913
$2,630,946
15 $4,946,966 $1,790,708
$395,757
$2,760,501
16 $5,194,306 $1,882,224
$415,544
$2,896,538
17 $5,453,930 $1,978,284
$436,314
$3,039,332
18 $5,726,668 $2,079,198
$458,133
$3,189,337
19 $6,013,018 $2,185,147
$481,041
$3,346,830
20 $6,313,644 $2,296,379
$505,092
$3,512,173
21 $6,629,376 $2,413,200
$530,350
$3,685,826
22 $6,960,878 $2,535,855
$556,870
$3,868,153
23 $7,308,814 $2,664,592
$584,705
$4,059,517
24 $7,674,346 $2,799,838
$613,948
$4,260,560
25 $8,057,972 $2,941,780
$644,638
$4,471,554
26 $8,461,020 $3,090,908
$676,882
$4,693,230
27 $8,883,988 $3,247,406
$710,719
$4,925,863
28 $9,328,204 $3,411,766
$746,256
$5,170,182
29 $9,794,664 $3,584,356
$783,573
$5,426,735
30 $10,284,364 $3,765,545
$822,749
$5,696,070