The jackpot for the MEGA Millions draw on Tue Oct 7, 2025, is projected to be $547 Million, with an option for a cash payout of $251.7 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 Oct 7, 2025 |
|---|
| Draw Date | Tue Oct 7, 2025 | | Projected Jackpot | $547,000,000 | | Cash Value | $251,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,700,000 | | Federal Tax(24%) | $60,408,000 | | Additional Federal Tax | $32,681,330 | | State Tax(8%) | $20,136,000 | | Net Lumpsum Payment | $138,474,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,232,897 |
$3,006,502
$658,632 |
$4,567,763 |
| 2 |
$8,644,788 |
$3,158,902
$691,583 |
$4,794,303 |
| 3 |
$9,076,918 |
$3,318,790
$726,153 |
$5,031,975 |
| 4 |
$9,530,928 |
$3,486,774
$762,474 |
$5,281,680 |
| 5 |
$10,007,365 |
$3,663,055
$800,589 |
$5,543,721 |
| 6 |
$10,507,870 |
$3,848,242
$840,630 |
$5,818,998 |
| 7 |
$11,032,990 |
$4,042,537
$882,639 |
$6,107,814 |
| 8 |
$11,584,913 |
$4,246,748
$926,793 |
$6,411,372 |
| 9 |
$12,164,186 |
$4,461,079
$973,135 |
$6,729,972 |
| 10 |
$12,772,450 |
$4,686,137
$1,021,796 |
$7,064,517 |
| 11 |
$13,410,799 |
$4,922,326
$1,072,864 |
$7,415,609 |
| 12 |
$14,081,421 |
$5,170,456
$1,126,514 |
$7,784,451 |
| 13 |
$14,785,410 |
$5,430,932
$1,182,833 |
$8,171,645 |
| 14 |
$15,524,954 |
$5,704,563
$1,241,996 |
$8,578,395 |
| 15 |
$16,301,147 |
$5,991,755
$1,304,092 |
$9,005,300 |
| 16 |
$17,116,177 |
$6,293,316
$1,369,294 |
$9,453,567 |
| 17 |
$17,971,685 |
$6,609,854
$1,437,735 |
$9,924,096 |
| 18 |
$18,870,406 |
$6,942,381
$1,509,632 |
$10,418,393 |
| 19 |
$19,813,981 |
$7,291,503
$1,585,118 |
$10,937,360 |
| 20 |
$20,804,598 |
$7,658,032
$1,664,368 |
$11,482,198 |
| 21 |
$21,844,992 |
$8,042,977
$1,747,599 |
$12,054,416 |
| 22 |
$22,937,351 |
$8,447,150
$1,834,988 |
$12,655,213 |
| 23 |
$24,083,863 |
$8,871,360
$1,926,709 |
$13,285,794 |
| 24 |
$25,288,357 |
$9,317,022
$2,023,069 |
$13,948,266 |
| 25 |
$26,552,474 |
$9,784,746
$2,124,198 |
$14,643,530 |
| 26 |
$27,880,590 |
$10,276,149
$2,230,447 |
$15,373,994 |
| 27 |
$29,274,346 |
$10,791,838
$2,341,948 |
$16,140,560 |
| 28 |
$30,738,118 |
$11,333,434
$2,459,049 |
$16,945,635 |
| 29 |
$32,275,188 |
$11,902,150
$2,582,015 |
$17,791,023 |
| 30 |
$33,888,838 |
$12,499,200
$2,711,107 |
$18,678,531 |
|
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