Jackpot Analysis New Jersey Mega Millions

Jackpot Analysis for New Jersey Mega Millions
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
Draw DateTue Sep 2, 2025
Projected Jackpot$302,000,000
Cash Value$136,000,000

Lumpsum Option Taxes and Payment
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
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