The jackpot for the MEGA Millions draw on Tue Sep 2, 2025, is projected to be $302 Million, with an option for a cash payout of $136 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 Sep 2, 2025 |
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Draw Date | Tue Sep 2, 2025 | Projected Jackpot | $302,000,000 | Cash Value | $136,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $136,000,000 | Federal Tax(24%) | $32,640,000 | Additional Federal Tax | $17,640,330 | State Tax(8%) | $10,880,000 | Net Lumpsum Payment | $74,839,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,545,402 |
$1,642,129 $363,632 |
$2,539,641 |
2 |
$4,772,808 |
$1,726,269 $381,825 |
$2,664,714 |
3 |
$5,011,388 |
$1,814,544 $400,911 |
$2,795,933 |
4 |
$5,262,048 |
$1,907,288 $420,964 |
$2,933,796 |
5 |
$5,525,090 |
$2,004,614 $442,007 |
$3,078,469 |
6 |
$5,801,420 |
$2,106,856 $464,114 |
$3,230,450 |
7 |
$6,091,340 |
$2,214,126 $487,307 |
$3,389,907 |
8 |
$6,396,058 |
$2,326,872 $511,685 |
$3,557,501 |
9 |
$6,715,876 |
$2,445,205 $537,270 |
$3,733,401 |
10 |
$7,051,700 |
$2,569,459 $564,136 |
$3,918,105 |
11 |
$7,404,134 |
$2,699,860 $592,331 |
$4,111,943 |
12 |
$7,774,386 |
$2,836,853 $621,951 |
$4,315,582 |
13 |
$8,163,060 |
$2,980,663 $653,045 |
$4,529,352 |
14 |
$8,571,364 |
$3,131,735 $685,709 |
$4,753,920 |
15 |
$8,999,902 |
$3,290,294 $719,992 |
$4,989,616 |
16 |
$9,449,882 |
$3,456,787 $755,991 |
$5,237,104 |
17 |
$9,922,210 |
$3,631,548 $793,777 |
$5,496,885 |
18 |
$10,418,396 |
$3,815,137 $833,472 |
$5,769,787 |
19 |
$10,939,346 |
$4,007,888 $875,148 |
$6,056,310 |
20 |
$11,486,268 |
$4,210,250 $918,901 |
$6,357,117 |
21 |
$12,060,672 |
$4,422,779 $964,854 |
$6,673,039 |
22 |
$12,663,766 |
$4,645,924 $1,013,101 |
$7,004,741 |
23 |
$13,296,758 |
$4,880,131 $1,063,741 |
$7,352,886 |
24 |
$13,961,762 |
$5,126,182 $1,116,941 |
$7,718,639 |
25 |
$14,659,684 |
$5,384,413 $1,172,775 |
$8,102,496 |
26 |
$15,392,940 |
$5,655,718 $1,231,435 |
$8,505,787 |
27 |
$16,162,436 |
$5,940,432 $1,292,995 |
$8,929,009 |
28 |
$16,970,588 |
$6,239,448 $1,357,647 |
$9,373,493 |
29 |
$17,819,208 |
$6,553,437 $1,425,537 |
$9,840,234 |
30 |
$18,710,108 |
$6,883,070 $1,496,809 |
$10,330,229 |
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