New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Nov 4, 2025 is estimated to be $800 Million, with a cash option of 371.7 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 Nov 4, 2025

Draw Date	Jackpot	Cash Option
Tue Nov 4, 2025	$800,000,000	$371,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$371,700,000
Federal Tax(24%)	$89,208,000
Additional Federal Tax	$48,281,330
State Tax(8%)	$29,736,000
Net Lumpsum Payment	$204,474,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$12,040,800	-$4,415,426 -$963,264	$6,662,110
2	$12,643,200	-$4,638,314 -$1,011,456	$6,993,430
3	$13,275,200	-$4,872,154 -$1,062,016	$7,341,030
4	$13,939,200	-$5,117,834 -$1,115,136	$7,706,230
5	$14,636,000	-$5,375,650 -$1,170,880	$8,089,470
6	$15,368,000	-$5,646,490 -$1,229,440	$8,492,070
7	$16,136,000	-$5,930,650 -$1,290,880	$8,914,470
8	$16,943,200	-$6,229,314 -$1,355,456	$9,358,430
9	$17,790,400	-$6,542,778 -$1,423,232	$9,824,390
10	$18,680,000	-$6,871,930 -$1,494,400	$10,313,670
11	$19,613,600	-$7,217,362 -$1,569,088	$10,827,150
12	$20,594,400	-$7,580,258 -$1,647,552	$11,366,590
13	$21,624,000	-$7,961,210 -$1,729,920	$11,932,870
14	$22,705,600	-$8,361,402 -$1,816,448	$12,527,750
15	$23,840,800	-$8,781,426 -$1,907,264	$13,152,110
16	$25,032,800	-$9,222,466 -$2,002,624	$13,807,710
17	$26,284,000	-$9,685,410 -$2,102,720	$14,495,870
18	$27,598,400	-$10,171,738 -$2,207,872	$15,218,790
19	$28,978,400	-$10,682,338 -$2,318,272	$15,977,790
20	$30,427,200	-$11,218,394 -$2,434,176	$16,774,630
21	$31,948,800	-$11,781,386 -$2,555,904	$17,611,510
22	$33,546,400	-$12,372,498 -$2,683,712	$18,490,190
23	$35,223,200	-$12,992,914 -$2,817,856	$19,412,430
24	$36,984,800	-$13,644,706 -$2,958,784	$20,381,310
25	$38,833,600	-$14,328,762 -$3,106,688	$21,398,150
26	$40,776,000	-$15,047,450 -$3,262,080	$22,466,470
27	$42,814,400	-$15,801,658 -$3,425,152	$23,587,590
28	$44,955,200	-$16,593,754 -$3,596,416	$24,765,030
29	$47,203,200	-$17,425,514 -$3,776,256	$26,001,430
30	$49,563,200	-$18,298,714 -$3,965,056	$27,299,430