New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 26, 2025 is estimated to be $253 Million, with a cash option of 113.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New Jersey, your state will take 8% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Jersey MEGA Millions Jackpot/Cash Option for Tue Aug 26, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 26, 2025	$253,000,000	$113,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$113,800,000
Federal Tax(24%)	$27,312,000
Additional Federal Tax	$14,754,330
State Tax(8%)	$9,104,000
Net Lumpsum Payment	$62,629,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,807,903	-$1,369,254 -$304,632	$2,134,017
2	$3,998,412	-$1,439,743 -$319,873	$2,238,796
3	$4,198,282	-$1,513,695 -$335,863	$2,348,724
4	$4,408,272	-$1,591,391 -$352,662	$2,464,219
5	$4,628,635	-$1,672,925 -$370,291	$2,585,419
6	$4,860,130	-$1,758,578 -$388,810	$2,712,742
7	$5,103,010	-$1,848,444 -$408,241	$2,846,325
8	$5,358,287	-$1,942,897 -$428,663	$2,986,727
9	$5,626,214	-$2,042,030 -$450,097	$3,134,087
10	$5,907,550	-$2,146,124 -$472,604	$3,288,822
11	$6,202,801	-$2,255,367 -$496,224	$3,451,210
12	$6,512,979	-$2,370,133 -$521,038	$3,621,808
13	$6,838,590	-$2,490,609 -$547,087	$3,800,894
14	$7,180,646	-$2,617,169 -$574,452	$3,989,025
15	$7,539,653	-$2,750,002 -$603,172	$4,186,479
16	$7,916,623	-$2,889,481 -$633,330	$4,393,812
17	$8,312,315	-$3,035,887 -$664,985	$4,611,443
18	$8,727,994	-$3,189,688 -$698,240	$4,840,066
19	$9,164,419	-$3,351,165 -$733,154	$5,080,100
20	$9,622,602	-$3,520,693 -$769,808	$5,332,101
21	$10,103,808	-$3,698,739 -$808,305	$5,596,764
22	$10,609,049	-$3,885,679 -$848,724	$5,874,646
23	$11,139,337	-$4,081,885 -$891,147	$6,166,305
24	$11,696,443	-$4,288,014 -$935,715	$6,472,714
25	$12,281,126	-$4,504,347 -$982,490	$6,794,289
26	$12,895,410	-$4,731,632 -$1,031,633	$7,132,145
27	$13,540,054	-$4,970,150 -$1,083,204	$7,486,700
28	$14,217,082	-$5,220,651 -$1,137,367	$7,859,064
29	$14,928,012	-$5,483,695 -$1,194,241	$8,250,076
30	$15,674,362	-$5,759,844 -$1,253,949	$8,660,569