The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Fri Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(8%) | $1,600,000 | | Net Lumpsum Payment | $11,039,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$51,775 |
$395,626 |
| 2 |
$679,572 |
$211,772
$54,366 |
$413,434 |
| 3 |
$713,542 |
$224,341
$57,083 |
$432,118 |
| 4 |
$749,232 |
$237,546
$59,939 |
$451,747 |
| 5 |
$786,685 |
$251,404
$62,935 |
$472,346 |
| 6 |
$826,030 |
$265,961
$66,082 |
$493,987 |
| 7 |
$867,310 |
$281,235
$69,385 |
$516,690 |
| 8 |
$910,697 |
$297,288
$72,856 |
$540,553 |
| 9 |
$956,234 |
$314,137
$76,499 |
$565,598 |
| 10 |
$1,004,050 |
$331,829
$80,324 |
$591,897 |
| 11 |
$1,054,231 |
$350,396
$84,338 |
$619,497 |
| 12 |
$1,106,949 |
$369,902
$88,556 |
$648,491 |
| 13 |
$1,162,290 |
$390,378
$92,983 |
$678,929 |
| 14 |
$1,220,426 |
$411,888
$97,634 |
$710,904 |
| 15 |
$1,281,443 |
$434,464
$102,515 |
$744,464 |
| 16 |
$1,345,513 |
$458,170
$107,641 |
$779,702 |
| 17 |
$1,412,765 |
$483,053
$113,021 |
$816,691 |
| 18 |
$1,483,414 |
$509,194
$118,673 |
$855,547 |
| 19 |
$1,557,589 |
$536,638
$124,607 |
$896,344 |
| 20 |
$1,635,462 |
$565,451
$130,837 |
$939,174 |
| 21 |
$1,717,248 |
$595,712
$137,380 |
$984,156 |
| 22 |
$1,803,119 |
$627,484
$144,250 |
$1,031,385 |
| 23 |
$1,893,247 |
$660,832
$151,460 |
$1,080,955 |
| 24 |
$1,987,933 |
$695,866
$159,035 |
$1,133,032 |
| 25 |
$2,087,306 |
$732,634
$166,984 |
$1,187,688 |
| 26 |
$2,191,710 |
$771,263
$175,337 |
$1,245,110 |
| 27 |
$2,301,274 |
$811,802
$184,102 |
$1,305,370 |
| 28 |
$2,416,342 |
$854,377
$193,307 |
$1,368,658 |
| 29 |
$2,537,172 |
$899,084
$202,974 |
$1,435,114 |
| 30 |
$2,664,022 |
$946,019
$213,122 |
$1,504,881 |
|
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