New Jersey Lottery

NJLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 14, 2025 is estimated to be $600 Million, with a cash option of 277.2 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 Oct 14, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 14, 2025	$600,000,000	$277,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$277,200,000
Federal Tax(24%)	$66,528,000
Additional Federal Tax	$35,996,330
State Tax(8%)	$22,176,000
Net Lumpsum Payment	$152,499,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,030,600	-$3,301,652 -$722,448	$5,006,500
2	$9,482,400	-$3,468,818 -$758,592	$5,254,990
3	$9,956,400	-$3,644,198 -$796,512	$5,515,690
4	$10,454,400	-$3,828,458 -$836,352	$5,789,590
5	$10,977,000	-$4,021,820 -$878,160	$6,077,020
6	$11,526,000	-$4,224,950 -$922,080	$6,378,970
7	$12,102,000	-$4,438,070 -$968,160	$6,695,770
8	$12,707,400	-$4,662,068 -$1,016,592	$7,028,740
9	$13,342,800	-$4,897,166 -$1,067,424	$7,378,210
10	$14,010,000	-$5,144,030 -$1,120,800	$7,745,170
11	$14,710,200	-$5,403,104 -$1,176,816	$8,130,280
12	$15,445,800	-$5,675,276 -$1,235,664	$8,534,860
13	$16,218,000	-$5,960,990 -$1,297,440	$8,959,570
14	$17,029,200	-$6,261,134 -$1,362,336	$9,405,730
15	$17,880,600	-$6,576,152 -$1,430,448	$9,874,000
16	$18,774,600	-$6,906,932 -$1,501,968	$10,365,700
17	$19,713,000	-$7,254,140 -$1,577,040	$10,881,820
18	$20,698,800	-$7,618,886 -$1,655,904	$11,424,010
19	$21,733,800	-$8,001,836 -$1,738,704	$11,993,260
20	$22,820,400	-$8,403,878 -$1,825,632	$12,590,890
21	$23,961,600	-$8,826,122 -$1,916,928	$13,218,550
22	$25,159,800	-$9,269,456 -$2,012,784	$13,877,560
23	$26,417,400	-$9,734,768 -$2,113,392	$14,569,240
24	$27,738,600	-$10,223,612 -$2,219,088	$15,295,900
25	$29,125,200	-$10,736,654 -$2,330,016	$16,058,530
26	$30,582,000	-$11,275,670 -$2,446,560	$16,859,770
27	$32,110,800	-$11,841,326 -$2,568,864	$17,700,610
28	$33,716,400	-$12,435,398 -$2,697,312	$18,583,690
29	$35,402,400	-$13,059,218 -$2,832,192	$19,510,990
30	$37,172,400	-$13,714,118 -$2,973,792	$20,484,490