New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 10, 2025 is estimated to be $243 Million, with a cash option of 108 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 Jun 10, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 10, 2025	$243,000,000	$108,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$108,000,000
Federal Tax(24%)	$25,920,000
Additional Federal Tax	$14,000,330
State Tax(8%)	$8,640,000
Net Lumpsum Payment	$59,439,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,657,393	-$1,313,566 -$292,591	$2,051,236
2	$3,840,372	-$1,381,268 -$307,230	$2,151,874
3	$4,032,342	-$1,452,297 -$322,587	$2,257,458
4	$4,234,032	-$1,526,922 -$338,723	$2,368,387
5	$4,445,685	-$1,605,234 -$355,655	$2,484,796
6	$4,668,030	-$1,687,501 -$373,442	$2,607,087
7	$4,901,310	-$1,773,815 -$392,105	$2,735,390
8	$5,146,497	-$1,864,534 -$411,720	$2,870,243
9	$5,403,834	-$1,959,749 -$432,307	$3,011,778
10	$5,674,050	-$2,059,729 -$453,924	$3,160,397
11	$5,957,631	-$2,164,654 -$476,610	$3,316,367
12	$6,255,549	-$2,274,884 -$500,444	$3,480,221
13	$6,568,290	-$2,390,598 -$525,463	$3,652,229
14	$6,896,826	-$2,512,156 -$551,746	$3,832,924
15	$7,241,643	-$2,639,738 -$579,331	$4,022,574
16	$7,603,713	-$2,773,704 -$608,297	$4,221,712
17	$7,983,765	-$2,914,323 -$638,701	$4,430,741
18	$8,383,014	-$3,062,046 -$670,641	$4,650,327
19	$8,802,189	-$3,217,140 -$704,175	$4,880,874
20	$9,242,262	-$3,379,967 -$739,381	$5,122,914
21	$9,704,448	-$3,550,976 -$776,356	$5,377,116
22	$10,189,719	-$3,730,526 -$815,178	$5,644,015
23	$10,699,047	-$3,918,978 -$855,924	$5,924,145
24	$11,234,133	-$4,116,960 -$898,731	$6,218,442
25	$11,795,706	-$4,324,742 -$943,656	$6,527,308
26	$12,385,710	-$4,543,043 -$990,857	$6,851,810
27	$13,004,874	-$4,772,134 -$1,040,390	$7,192,350
28	$13,655,142	-$5,012,733 -$1,092,411	$7,549,998
29	$14,337,972	-$5,265,380 -$1,147,038	$7,925,554
30	$15,054,822	-$5,530,615 -$1,204,386	$8,319,821