The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 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 Jun 27, 2025 |
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Draw Date | Fri Jun 27, 2025 | Projected Jackpot | $348,000,000 | Cash Value | $155,500,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $155,500,000 | Federal Tax(24%) | $37,320,000 | Additional Federal Tax | $20,175,330 | State Tax(8%) | $12,440,000 | Net Lumpsum Payment | $85,564,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$5,237,748 |
$1,898,297 $419,020 |
$2,920,431 |
2 |
$5,499,792 |
$1,995,253 $439,983 |
$3,064,556 |
3 |
$5,774,712 |
$2,096,974 $461,977 |
$3,215,761 |
4 |
$6,063,552 |
$2,203,845 $485,084 |
$3,374,623 |
5 |
$6,366,660 |
$2,315,995 $509,333 |
$3,541,332 |
6 |
$6,685,080 |
$2,433,810 $534,806 |
$3,716,464 |
7 |
$7,019,160 |
$2,557,420 $561,533 |
$3,900,207 |
8 |
$7,370,292 |
$2,687,338 $589,623 |
$4,093,331 |
9 |
$7,738,824 |
$2,823,695 $619,106 |
$4,296,023 |
10 |
$8,125,800 |
$2,966,876 $650,064 |
$4,508,860 |
11 |
$8,531,916 |
$3,117,139 $682,553 |
$4,732,224 |
12 |
$8,958,564 |
$3,274,999 $716,685 |
$4,966,880 |
13 |
$9,406,440 |
$3,440,713 $752,515 |
$5,213,212 |
14 |
$9,876,936 |
$3,614,797 $790,155 |
$5,471,984 |
15 |
$10,370,748 |
$3,797,507 $829,660 |
$5,743,581 |
16 |
$10,889,268 |
$3,989,360 $871,141 |
$6,028,767 |
17 |
$11,433,540 |
$4,190,740 $914,683 |
$6,328,117 |
18 |
$12,005,304 |
$4,402,293 $960,424 |
$6,642,587 |
19 |
$12,605,604 |
$4,624,404 $1,008,448 |
$6,972,752 |
20 |
$13,235,832 |
$4,857,588 $1,058,867 |
$7,319,377 |
21 |
$13,897,728 |
$5,102,490 $1,111,818 |
$7,683,420 |
22 |
$14,592,684 |
$5,359,623 $1,167,415 |
$8,065,646 |
23 |
$15,322,092 |
$5,629,504 $1,225,767 |
$8,466,821 |
24 |
$16,088,388 |
$5,913,034 $1,287,071 |
$8,888,283 |
25 |
$16,892,616 |
$6,210,598 $1,351,409 |
$9,330,609 |
26 |
$17,737,560 |
$6,523,228 $1,419,005 |
$9,795,327 |
27 |
$18,624,264 |
$6,851,308 $1,489,941 |
$10,283,015 |
28 |
$19,555,512 |
$7,195,870 $1,564,441 |
$10,795,201 |
29 |
$20,533,392 |
$7,557,685 $1,642,671 |
$11,333,036 |
30 |
$21,559,992 |
$7,937,527 $1,724,799 |
$11,897,666 |
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