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 Powerball 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