Santa Claus may have a sackful of green for some lucky New Jersey lottery player on Tuesday night.
There was no Mega Millions jackpot winner again on December 16, so the jackpot prize has shot all the way up to $152 million for tonight's drawing, Tuesday, Dec. 20, according to the Mega Millions website. The cash option value is an estimated $113.6 million.
Usamega.com reported that 13 lucky players matched the first 5 numbers without the Mega ball to win a $250,000 prize. Seven of them were from California, but none from New Jersey.
The winning numbers in the Friday, Dec. 16 drawing were as follows:
2 - 4 - 26 - 36 - 39
Mega Ball: 27
And if we were lucky enough to win $10,000 on an individual Mega Millions second or third prize winning ticket, Mr. Tax Man wants to hear about the good news too.
"As of January 1, 2009, The New Jersey Division of Taxation began taxing New Jersey Lottery winnings for prizes that exceed $10,000," said Patricia Daquila, a certified public accountant from New Providence, according to NJ.com. "It is the individual prize amount over $10,000, not the cumulative winnings, that is taxed." Three separate New Jersey tickets that have prizes totaling over $10,000 are not taxed in New Jersey.
Taxable lottery winnings are to be listed under "Net Gambling Winnings" on your New Jersey income tax return, said John Prokop, a certified financial planner and certified public accountant in Morristown. "To arrive at your net gambling winnings, you can use gambling losses to offset gambling winnings from the same year to arrive at a net winnings total."
Any amount a player wins from out-of-state lotteries will be taxable in New Jersey.