The jackpot for the MEGA Millions draw on Tue Jun 3, 2025, is projected to be $202 Million, with an option for a cash payout of $90 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 Jun 3, 2025 |
|---|
| Draw Date | Tue Jun 3, 2025 | | Projected Jackpot | $202,000,000 | | Cash Value | $90,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $90,000,000 | | Federal Tax(24%) | $21,600,000 | | Additional Federal Tax | $11,660,330 | | State Tax(8%) | $7,200,000 | | Net Lumpsum Payment | $49,539,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,040,302 |
$1,085,242
$243,224 |
$1,711,836 |
| 2 |
$3,192,408 |
$1,141,521
$255,393 |
$1,795,494 |
| 3 |
$3,351,988 |
$1,200,566
$268,159 |
$1,883,263 |
| 4 |
$3,519,648 |
$1,262,600
$281,572 |
$1,975,476 |
| 5 |
$3,695,590 |
$1,327,699
$295,647 |
$2,072,244 |
| 6 |
$3,880,420 |
$1,396,086
$310,434 |
$2,173,900 |
| 7 |
$4,074,340 |
$1,467,836
$325,947 |
$2,280,557 |
| 8 |
$4,278,158 |
$1,543,249
$342,253 |
$2,392,656 |
| 9 |
$4,492,076 |
$1,622,399
$359,366 |
$2,510,311 |
| 10 |
$4,716,700 |
$1,705,509
$377,336 |
$2,633,855 |
| 11 |
$4,952,434 |
$1,792,731
$396,195 |
$2,763,508 |
| 12 |
$5,200,086 |
$1,884,362
$416,007 |
$2,899,717 |
| 13 |
$5,460,060 |
$1,980,553
$436,805 |
$3,042,702 |
| 14 |
$5,733,164 |
$2,081,601
$458,653 |
$3,192,910 |
| 15 |
$6,019,802 |
$2,187,657
$481,584 |
$3,350,561 |
| 16 |
$6,320,782 |
$2,299,020
$505,663 |
$3,516,099 |
| 17 |
$6,636,710 |
$2,415,913
$530,937 |
$3,689,860 |
| 18 |
$6,968,596 |
$2,538,711
$557,488 |
$3,872,397 |
| 19 |
$7,317,046 |
$2,667,637
$585,364 |
$4,064,045 |
| 20 |
$7,682,868 |
$2,802,992
$614,629 |
$4,265,247 |
| 21 |
$8,067,072 |
$2,945,147
$645,366 |
$4,476,559 |
| 22 |
$8,470,466 |
$3,094,403
$677,637 |
$4,698,426 |
| 23 |
$8,893,858 |
$3,251,058
$711,509 |
$4,931,291 |
| 24 |
$9,338,662 |
$3,415,635
$747,093 |
$5,175,934 |
| 25 |
$9,805,484 |
$3,588,359
$784,439 |
$5,432,686 |
| 26 |
$10,295,940 |
$3,769,828
$823,675 |
$5,702,437 |
| 27 |
$10,810,636 |
$3,960,266
$864,851 |
$5,985,519 |
| 28 |
$11,351,188 |
$4,160,270
$908,095 |
$6,282,823 |
| 29 |
$11,918,808 |
$4,370,289
$953,505 |
$6,595,014 |
| 30 |
$12,514,708 |
$4,590,772
$1,001,177 |
$6,922,759 |
|
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