The jackpot for the MEGA Millions draw on Tue Aug 5, 2025, is projected to be $150 Million, with an option for a cash payout of $67.9 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Jersey residents, the state will deduct 8% from your lottery earnings.
| New Jersey MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025 |
|---|
| Draw Date | Tue Aug 5, 2025 | | Projected Jackpot | $150,000,000 | | Cash Value | $67,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $67,900,000 | | Federal Tax(24%) | $16,296,000 | | Additional Federal Tax | $8,787,330 | | State Tax(8%) | $5,432,000 | | Net Lumpsum Payment | $37,384,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,257,650 |
$795,661
$180,612 |
$1,281,377 |
| 2 |
$2,370,600 |
$837,452
$189,648 |
$1,343,500 |
| 3 |
$2,489,100 |
$881,297
$199,128 |
$1,408,675 |
| 4 |
$2,613,600 |
$927,362
$209,088 |
$1,477,150 |
| 5 |
$2,744,250 |
$975,703
$219,540 |
$1,549,007 |
| 6 |
$2,881,500 |
$1,026,485
$230,520 |
$1,624,495 |
| 7 |
$3,025,500 |
$1,079,765
$242,040 |
$1,703,695 |
| 8 |
$3,176,850 |
$1,135,765
$254,148 |
$1,786,937 |
| 9 |
$3,335,700 |
$1,194,539
$266,856 |
$1,874,305 |
| 10 |
$3,502,500 |
$1,256,255
$280,200 |
$1,966,045 |
| 11 |
$3,677,550 |
$1,321,024
$294,204 |
$2,062,322 |
| 12 |
$3,861,450 |
$1,389,067
$308,916 |
$2,163,467 |
| 13 |
$4,054,500 |
$1,460,495
$324,360 |
$2,269,645 |
| 14 |
$4,257,300 |
$1,535,531
$340,584 |
$2,381,185 |
| 15 |
$4,470,150 |
$1,614,286
$357,612 |
$2,498,252 |
| 16 |
$4,693,650 |
$1,696,981
$375,492 |
$2,621,177 |
| 17 |
$4,928,250 |
$1,783,783
$394,260 |
$2,750,207 |
| 18 |
$5,174,700 |
$1,874,969
$413,976 |
$2,885,755 |
| 19 |
$5,433,450 |
$1,970,707
$434,676 |
$3,028,067 |
| 20 |
$5,705,100 |
$2,071,217
$456,408 |
$3,177,475 |
| 21 |
$5,990,400 |
$2,176,778
$479,232 |
$3,334,390 |
| 22 |
$6,289,950 |
$2,287,612
$503,196 |
$3,499,142 |
| 23 |
$6,604,350 |
$2,403,940
$528,348 |
$3,672,062 |
| 24 |
$6,934,650 |
$2,526,151
$554,772 |
$3,853,727 |
| 25 |
$7,281,300 |
$2,654,411
$582,504 |
$4,044,385 |
| 26 |
$7,645,500 |
$2,789,165
$611,640 |
$4,244,695 |
| 27 |
$8,027,700 |
$2,930,579
$642,216 |
$4,454,905 |
| 28 |
$8,429,100 |
$3,079,097
$674,328 |
$4,675,675 |
| 29 |
$8,850,600 |
$3,235,052
$708,048 |
$4,907,500 |
| 30 |
$9,293,100 |
$3,398,777
$743,448 |
$5,150,875 |
|
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