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 Powerball 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