The jackpot for the MEGA Millions draw on Tue Oct 28, 2025, is projected to be $714 Million, with an option for a cash payout of $334.1 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 Oct 28, 2025 |
|---|
| Draw Date | Tue Oct 28, 2025 | | Projected Jackpot | $714,000,000 | | Cash Value | $334,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $334,100,000 | | Federal Tax(24%) | $80,184,000 | | Additional Federal Tax | $43,393,330 | | State Tax(8%) | $26,728,000 | | Net Lumpsum Payment | $183,794,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,746,414 |
$3,936,504
$859,713 |
$5,950,197 |
| 2 |
$11,284,056 |
$4,135,431
$902,724 |
$6,245,901 |
| 3 |
$11,848,116 |
$4,344,133
$947,849 |
$6,556,134 |
| 4 |
$12,440,736 |
$4,563,403
$995,259 |
$6,882,074 |
| 5 |
$13,062,630 |
$4,793,503
$1,045,010 |
$7,224,117 |
| 6 |
$13,715,940 |
$5,035,228
$1,097,275 |
$7,583,437 |
| 7 |
$14,401,380 |
$5,288,841
$1,152,110 |
$7,960,429 |
| 8 |
$15,121,806 |
$5,555,399
$1,209,744 |
$8,356,663 |
| 9 |
$15,877,932 |
$5,835,165
$1,270,235 |
$8,772,532 |
| 10 |
$16,671,900 |
$6,128,933
$1,333,752 |
$9,209,215 |
| 11 |
$17,505,138 |
$6,437,231
$1,400,411 |
$9,667,496 |
| 12 |
$18,380,502 |
$6,761,116
$1,470,440 |
$10,148,946 |
| 13 |
$19,299,420 |
$7,101,116
$1,543,954 |
$10,654,350 |
| 14 |
$20,264,748 |
$7,458,287
$1,621,180 |
$11,185,281 |
| 15 |
$21,277,914 |
$7,833,159
$1,702,233 |
$11,742,522 |
| 16 |
$22,341,774 |
$8,226,787
$1,787,342 |
$12,327,645 |
| 17 |
$23,458,470 |
$8,639,964
$1,876,678 |
$12,941,828 |
| 18 |
$24,631,572 |
$9,074,012
$1,970,526 |
$13,587,034 |
| 19 |
$25,863,222 |
$9,529,723
$2,069,058 |
$14,264,441 |
| 20 |
$27,156,276 |
$10,008,153
$2,172,502 |
$14,975,621 |
| 21 |
$28,514,304 |
$10,510,623
$2,281,144 |
$15,722,537 |
| 22 |
$29,940,162 |
$11,038,190
$2,395,213 |
$16,506,759 |
| 23 |
$31,436,706 |
$11,591,912
$2,514,936 |
$17,329,858 |
| 24 |
$33,008,934 |
$12,173,636
$2,640,715 |
$18,194,583 |
| 25 |
$34,658,988 |
$12,784,156
$2,772,719 |
$19,102,113 |
| 26 |
$36,392,580 |
$13,425,585
$2,911,406 |
$20,055,589 |
| 27 |
$38,211,852 |
$14,098,716
$3,056,948 |
$21,056,188 |
| 28 |
$40,122,516 |
$14,805,661
$3,209,801 |
$22,107,054 |
| 29 |
$42,128,856 |
$15,548,007
$3,370,308 |
$23,210,541 |
| 30 |
$44,235,156 |
$16,327,338
$3,538,812 |
$24,369,006 |
|
|
