Jackpot Analysis New Jersey Mega Millions

Jackpot Analysis for New Jersey Mega Millions
The jackpot for the MEGA Millions draw on Fri Sep 26, 2025, is projected to be $474 Million, with an option for a cash payout of $219.4 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 Sep 26, 2025
Draw DateFri Sep 26, 2025
Projected Jackpot$474,000,000
Cash Value$219,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$219,400,000
Federal Tax(24%)$52,656,000
Additional Federal Tax$28,482,330
State Tax(8%)$17,552,000
Net Lumpsum Payment$120,709,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $7,134,174 $2,599,975
$570,734
$3,963,465
2 $7,491,096 $2,732,036
$599,288
$4,159,772
3 $7,865,556 $2,870,586
$629,244
$4,365,726
4 $8,258,976 $3,016,152
$660,718
$4,582,106
5 $8,671,830 $3,168,907
$693,746
$4,809,177
6 $9,105,540 $3,329,380
$728,443
$5,047,717
7 $9,560,580 $3,497,745
$764,846
$5,297,989
8 $10,038,846 $3,674,703
$803,108
$5,561,035
9 $10,540,812 $3,860,431
$843,265
$5,837,116
10 $11,067,900 $4,055,453
$885,432
$6,127,015
11 $11,621,058 $4,260,122
$929,685
$6,431,251
12 $12,202,182 $4,475,138
$976,175
$6,750,869
13 $12,812,220 $4,700,852
$1,024,978
$7,086,390
14 $13,453,068 $4,937,966
$1,076,245
$7,438,857
15 $14,125,674 $5,186,830
$1,130,054
$7,808,790
16 $14,831,934 $5,448,146
$1,186,555
$8,197,233
17 $15,573,270 $5,722,440
$1,245,862
$8,604,968
18 $16,352,052 $6,010,590
$1,308,164
$9,033,298
19 $17,169,702 $6,313,120
$1,373,576
$9,483,006
20 $18,028,116 $6,630,733
$1,442,249
$9,955,134
21 $18,929,664 $6,964,306
$1,514,373
$10,450,985
22 $19,876,242 $7,314,540
$1,590,099
$10,971,603
23 $20,869,746 $7,682,136
$1,669,580
$11,518,030
24 $21,913,494 $8,068,323
$1,753,080
$12,092,091
25 $23,008,908 $8,473,626
$1,840,713
$12,694,569
26 $24,159,780 $8,899,449
$1,932,782
$13,327,549
27 $25,367,532 $9,346,317
$2,029,403
$13,991,812
28 $26,635,956 $9,815,634
$2,130,876
$14,689,446
29 $27,967,896 $10,308,452
$2,237,432
$15,422,012
30 $29,366,196 $10,825,823
$2,349,296
$16,191,077