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 |
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Draw Date | Fri Sep 26, 2025 | Projected Jackpot | $474,000,000 | Cash Value | $219,400,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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