The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 Million. Should you be the lucky winner of the Powerball 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 Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
|---|
| Draw Date | Sat Apr 5, 2025 | | Projected Jackpot | $47,000,000 | | Cash Value | $21,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,800,000 | | Federal Tax(24%) | $5,232,000 | | Additional Federal Tax | $2,794,330 | | State Tax(8%) | $1,744,000 | | Net Lumpsum Payment | $12,029,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$707,397 |
$222,067
$56,592 |
$428,738 |
| 2 |
$742,788 |
$235,162
$59,423 |
$448,203 |
| 3 |
$779,918 |
$248,900
$62,393 |
$468,625 |
| 4 |
$818,928 |
$263,334
$65,514 |
$490,080 |
| 5 |
$859,865 |
$278,480
$68,789 |
$512,596 |
| 6 |
$902,870 |
$294,392
$72,230 |
$536,248 |
| 7 |
$947,990 |
$311,087
$75,839 |
$561,064 |
| 8 |
$995,413 |
$328,633
$79,633 |
$587,147 |
| 9 |
$1,045,186 |
$347,049
$83,615 |
$614,522 |
| 10 |
$1,097,450 |
$366,387
$87,796 |
$643,267 |
| 11 |
$1,152,299 |
$386,681
$92,184 |
$673,434 |
| 12 |
$1,209,921 |
$408,001
$96,794 |
$705,126 |
| 13 |
$1,270,410 |
$430,382
$101,633 |
$738,395 |
| 14 |
$1,333,954 |
$453,893
$106,716 |
$773,345 |
| 15 |
$1,400,647 |
$478,570
$112,052 |
$810,025 |
| 16 |
$1,470,677 |
$504,481
$117,654 |
$848,542 |
| 17 |
$1,544,185 |
$531,679
$123,535 |
$888,971 |
| 18 |
$1,621,406 |
$560,251
$129,712 |
$931,443 |
| 19 |
$1,702,481 |
$590,248
$136,198 |
$976,035 |
| 20 |
$1,787,598 |
$621,742
$143,008 |
$1,022,848 |
| 21 |
$1,876,992 |
$654,817
$150,159 |
$1,072,016 |
| 22 |
$1,970,851 |
$689,545
$157,668 |
$1,123,638 |
| 23 |
$2,069,363 |
$725,995
$165,549 |
$1,177,819 |
| 24 |
$2,172,857 |
$764,287
$173,829 |
$1,234,741 |
| 25 |
$2,281,474 |
$804,476
$182,518 |
$1,294,480 |
| 26 |
$2,395,590 |
$846,699
$191,647 |
$1,357,244 |
| 27 |
$2,515,346 |
$891,008
$201,228 |
$1,423,110 |
| 28 |
$2,641,118 |
$937,544
$211,289 |
$1,492,285 |
| 29 |
$2,773,188 |
$986,410
$221,855 |
$1,564,923 |
| 30 |
$2,911,838 |
$1,037,710
$232,947 |
$1,641,181 |
|
|
