New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 22, 2025 is estimated to be $110 Million, with a cash option of 48.4 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 Jul 22, 2025

Draw Date	Jackpot	Cash Option
Tue Jul 22, 2025	$110,000,000	$48,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$48,400,000
Federal Tax(24%)	$11,616,000
Additional Federal Tax	$6,252,330
State Tax(8%)	$3,872,000
Net Lumpsum Payment	$26,659,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,655,610	-$572,906 -$132,449	$950,255
2	$1,738,440	-$603,553 -$139,075	$995,812
3	$1,825,340	-$635,706 -$146,027	$1,043,607
4	$1,916,640	-$669,487 -$153,331	$1,093,822
5	$2,012,450	-$704,937 -$160,996	$1,146,517
6	$2,113,100	-$742,177 -$169,048	$1,201,875
7	$2,218,700	-$781,249 -$177,496	$1,259,955
8	$2,329,690	-$822,316 -$186,375	$1,320,999
9	$2,446,180	-$865,417 -$195,694	$1,385,069
10	$2,568,500	-$910,675 -$205,480	$1,452,345
11	$2,696,870	-$958,172 -$215,750	$1,522,948
12	$2,831,730	-$1,008,070 -$226,538	$1,597,122
13	$2,973,300	-$1,060,451 -$237,864	$1,674,985
14	$3,122,020	-$1,115,478 -$249,762	$1,756,780
15	$3,278,110	-$1,173,231 -$262,249	$1,842,630
16	$3,442,010	-$1,233,874 -$275,361	$1,932,775
17	$3,614,050	-$1,297,529 -$289,124	$2,027,397
18	$3,794,780	-$1,364,399 -$303,582	$2,126,799
19	$3,984,530	-$1,434,606 -$318,762	$2,231,162
20	$4,183,740	-$1,508,314 -$334,699	$2,340,727
21	$4,392,960	-$1,585,726 -$351,437	$2,455,797
22	$4,612,630	-$1,667,003 -$369,010	$2,576,617
23	$4,843,190	-$1,752,311 -$387,455	$2,703,424
24	$5,085,410	-$1,841,932 -$406,833	$2,836,645
25	$5,339,620	-$1,935,990 -$427,170	$2,976,460
26	$5,606,700	-$2,034,809 -$448,536	$3,123,355
27	$5,886,980	-$2,138,513 -$470,958	$3,277,509
28	$6,181,340	-$2,247,426 -$494,507	$3,439,407
29	$6,490,440	-$2,361,793 -$519,235	$3,609,412
30	$6,814,940	-$2,481,858 -$545,195	$3,787,887