The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(8%) | $2,544,000 | | Net Lumpsum Payment | $17,529,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$84,286 |
$619,133 |
| 2 |
$1,106,280 |
$369,654
$88,502 |
$648,124 |
| 3 |
$1,161,580 |
$390,115
$92,926 |
$678,539 |
| 4 |
$1,219,680 |
$411,612
$97,574 |
$710,494 |
| 5 |
$1,280,650 |
$434,171
$102,452 |
$744,027 |
| 6 |
$1,344,700 |
$457,869
$107,576 |
$779,255 |
| 7 |
$1,411,900 |
$482,733
$112,952 |
$816,215 |
| 8 |
$1,482,530 |
$508,866
$118,602 |
$855,062 |
| 9 |
$1,556,660 |
$536,295
$124,533 |
$895,832 |
| 10 |
$1,634,500 |
$565,095
$130,760 |
$938,645 |
| 11 |
$1,716,190 |
$595,321
$137,295 |
$983,574 |
| 12 |
$1,802,010 |
$627,074
$144,161 |
$1,030,775 |
| 13 |
$1,892,100 |
$660,407
$151,368 |
$1,080,325 |
| 14 |
$1,986,740 |
$695,424
$158,939 |
$1,132,377 |
| 15 |
$2,086,070 |
$732,176
$166,886 |
$1,187,008 |
| 16 |
$2,190,370 |
$770,767
$175,230 |
$1,244,373 |
| 17 |
$2,299,850 |
$811,275
$183,988 |
$1,304,587 |
| 18 |
$2,414,860 |
$853,829
$193,189 |
$1,367,842 |
| 19 |
$2,535,610 |
$898,506
$202,849 |
$1,434,255 |
| 20 |
$2,662,380 |
$945,411
$212,990 |
$1,503,979 |
| 21 |
$2,795,520 |
$994,673
$223,642 |
$1,577,205 |
| 22 |
$2,935,310 |
$1,046,395
$234,825 |
$1,654,090 |
| 23 |
$3,082,030 |
$1,100,681
$246,562 |
$1,734,787 |
| 24 |
$3,236,170 |
$1,157,713
$258,894 |
$1,819,563 |
| 25 |
$3,397,940 |
$1,217,568
$271,835 |
$1,908,537 |
| 26 |
$3,567,900 |
$1,280,453
$285,432 |
$2,002,015 |
| 27 |
$3,746,260 |
$1,346,447
$299,701 |
$2,100,112 |
| 28 |
$3,933,580 |
$1,415,755
$314,686 |
$2,203,139 |
| 29 |
$4,130,280 |
$1,488,534
$330,422 |
$2,311,324 |
| 30 |
$4,336,780 |
$1,564,939
$346,942 |
$2,424,899 |
|
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