The jackpot for the MEGA Millions draw on Tue Jul 15, 2025, is projected to be $90 Million, with an option for a cash payout of $39.9 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 Jul 15, 2025 |
|---|
| Draw Date | Tue Jul 15, 2025 | | Projected Jackpot | $90,000,000 | | Cash Value | $39,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $39,900,000 | | Federal Tax(24%) | $9,576,000 | | Additional Federal Tax | $5,147,330 | | State Tax(8%) | $3,192,000 | | Net Lumpsum Payment | $21,984,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$108,367 |
$784,694 |
| 2 |
$1,422,360 |
$486,604
$113,789 |
$821,967 |
| 3 |
$1,493,460 |
$512,911
$119,477 |
$861,072 |
| 4 |
$1,568,160 |
$540,550
$125,453 |
$902,157 |
| 5 |
$1,646,550 |
$569,554
$131,724 |
$945,272 |
| 6 |
$1,728,900 |
$600,023
$138,312 |
$990,565 |
| 7 |
$1,815,300 |
$631,991
$145,224 |
$1,038,085 |
| 8 |
$1,906,110 |
$665,591
$152,489 |
$1,088,030 |
| 9 |
$2,001,420 |
$700,856
$160,114 |
$1,140,450 |
| 10 |
$2,101,500 |
$737,885
$168,120 |
$1,195,495 |
| 11 |
$2,206,530 |
$776,746
$176,522 |
$1,253,262 |
| 12 |
$2,316,870 |
$817,572
$185,350 |
$1,313,948 |
| 13 |
$2,432,700 |
$860,429
$194,616 |
$1,377,655 |
| 14 |
$2,554,380 |
$905,451
$204,350 |
$1,444,579 |
| 15 |
$2,682,090 |
$952,704
$214,567 |
$1,514,819 |
| 16 |
$2,816,190 |
$1,002,321
$225,295 |
$1,588,574 |
| 17 |
$2,956,950 |
$1,054,402
$236,556 |
$1,665,992 |
| 18 |
$3,104,820 |
$1,109,114
$248,386 |
$1,747,320 |
| 19 |
$3,260,070 |
$1,166,556
$260,806 |
$1,832,708 |
| 20 |
$3,423,060 |
$1,226,863
$273,845 |
$1,922,352 |
| 21 |
$3,594,240 |
$1,290,199
$287,539 |
$2,016,502 |
| 22 |
$3,773,970 |
$1,356,699
$301,918 |
$2,115,353 |
| 23 |
$3,962,610 |
$1,426,496
$317,009 |
$2,219,105 |
| 24 |
$4,160,790 |
$1,499,823
$332,863 |
$2,328,104 |
| 25 |
$4,368,780 |
$1,576,779
$349,502 |
$2,442,499 |
| 26 |
$4,587,300 |
$1,657,631
$366,984 |
$2,562,685 |
| 27 |
$4,816,620 |
$1,742,480
$385,330 |
$2,688,810 |
| 28 |
$5,057,460 |
$1,831,591
$404,597 |
$2,821,272 |
| 29 |
$5,310,360 |
$1,925,164
$424,829 |
$2,960,367 |
| 30 |
$5,575,860 |
$2,023,399
$446,069 |
$3,106,392 |
|
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