The jackpot for the MEGA Millions draw on Tue Jun 17, 2025, is projected to be $280 Million, with an option for a cash payout of $126.1 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 Jun 17, 2025 |
| Draw Date |
Tue Jun 17, 2025 |
| Projected Jackpot |
$280,000,000 |
| Cash Value |
$126,100,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$126,100,000 |
| Federal Tax(24%) |
$30,264,000 |
| Additional Federal Tax |
$16,353,330 |
| State Tax(8%) |
$10,088,000 |
| Net Lumpsum Payment |
$69,394,670 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$337,142 |
$2,357,524 |
| 2 |
$4,425,120 |
$1,597,625
$354,010 |
$2,473,485 |
| 3 |
$4,646,320 |
$1,679,469
$371,706 |
$2,595,145 |
| 4 |
$4,878,720 |
$1,765,457
$390,298 |
$2,722,965 |
| 5 |
$5,122,600 |
$1,855,692
$409,808 |
$2,857,100 |
| 6 |
$5,378,800 |
$1,950,486
$430,304 |
$2,998,010 |
| 7 |
$5,647,600 |
$2,049,942
$451,808 |
$3,145,850 |
| 8 |
$5,930,120 |
$2,154,475
$474,410 |
$3,301,235 |
| 9 |
$6,226,640 |
$2,264,187
$498,131 |
$3,464,322 |
| 10 |
$6,538,000 |
$2,379,390
$523,040 |
$3,635,570 |
| 11 |
$6,864,760 |
$2,500,292
$549,181 |
$3,815,287 |
| 12 |
$7,208,040 |
$2,627,305
$576,643 |
$4,004,092 |
| 13 |
$7,568,400 |
$2,760,638
$605,472 |
$4,202,290 |
| 14 |
$7,946,960 |
$2,900,706
$635,757 |
$4,410,497 |
| 15 |
$8,344,280 |
$3,047,714
$667,542 |
$4,629,024 |
| 16 |
$8,761,480 |
$3,202,078
$700,918 |
$4,858,484 |
| 17 |
$9,199,400 |
$3,364,108
$735,952 |
$5,099,340 |
| 18 |
$9,659,440 |
$3,534,323
$772,755 |
$5,352,362 |
| 19 |
$10,142,440 |
$3,713,033
$811,395 |
$5,618,012 |
| 20 |
$10,649,520 |
$3,900,653
$851,962 |
$5,896,905 |
| 21 |
$11,182,080 |
$4,097,700
$894,566 |
$6,189,814 |
| 22 |
$11,741,240 |
$4,304,589
$939,299 |
$6,497,352 |
| 23 |
$12,328,120 |
$4,521,735
$986,250 |
$6,820,135 |
| 24 |
$12,944,680 |
$4,749,862
$1,035,574 |
$7,159,244 |
| 25 |
$13,591,760 |
$4,989,282
$1,087,341 |
$7,515,137 |
| 26 |
$14,271,600 |
$5,240,822
$1,141,728 |
$7,889,050 |
| 27 |
$14,985,040 |
$5,504,795
$1,198,803 |
$8,281,442 |
| 28 |
$15,734,320 |
$5,782,029
$1,258,746 |
$8,693,545 |
| 29 |
$16,521,120 |
$6,073,145
$1,321,690 |
$9,126,285 |
| 30 |
$17,347,120 |
$6,378,765
$1,387,770 |
$9,580,585 |
|
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