The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 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 26, 2025 |
|---|
| Draw Date | Sat Apr 26, 2025 | | Projected Jackpot | $168,000,000 | | Cash Value | $77,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $77,100,000 | | Federal Tax(24%) | $18,504,000 | | Additional Federal Tax | $9,983,330 | | State Tax(8%) | $6,168,000 | | Net Lumpsum Payment | $42,444,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,528,568 |
$895,901
$202,285 |
$1,430,382 |
| 2 |
$2,655,072 |
$942,707
$212,406 |
$1,499,959 |
| 3 |
$2,787,792 |
$991,813
$223,023 |
$1,572,956 |
| 4 |
$2,927,232 |
$1,043,406
$234,179 |
$1,649,647 |
| 5 |
$3,073,560 |
$1,097,548
$245,885 |
$1,730,127 |
| 6 |
$3,227,280 |
$1,154,424
$258,182 |
$1,814,674 |
| 7 |
$3,388,560 |
$1,214,098
$271,085 |
$1,903,377 |
| 8 |
$3,558,072 |
$1,276,817
$284,646 |
$1,996,609 |
| 9 |
$3,735,984 |
$1,342,644
$298,879 |
$2,094,461 |
| 10 |
$3,922,800 |
$1,411,766
$313,824 |
$2,197,210 |
| 11 |
$4,118,856 |
$1,484,307
$329,508 |
$2,305,041 |
| 12 |
$4,324,824 |
$1,560,515
$345,986 |
$2,418,323 |
| 13 |
$4,541,040 |
$1,640,515
$363,283 |
$2,537,242 |
| 14 |
$4,768,176 |
$1,724,556
$381,454 |
$2,662,166 |
| 15 |
$5,006,568 |
$1,812,761
$400,525 |
$2,793,282 |
| 16 |
$5,256,888 |
$1,905,379
$420,551 |
$2,930,958 |
| 17 |
$5,519,640 |
$2,002,597
$441,571 |
$3,075,472 |
| 18 |
$5,795,664 |
$2,104,726
$463,653 |
$3,227,285 |
| 19 |
$6,085,464 |
$2,211,952
$486,837 |
$3,386,675 |
| 20 |
$6,389,712 |
$2,324,524
$511,177 |
$3,554,011 |
| 21 |
$6,709,248 |
$2,442,752
$536,740 |
$3,729,756 |
| 22 |
$7,044,744 |
$2,566,886
$563,580 |
$3,914,278 |
| 23 |
$7,396,872 |
$2,697,173
$591,750 |
$4,107,949 |
| 24 |
$7,766,808 |
$2,834,049
$621,345 |
$4,311,414 |
| 25 |
$8,155,056 |
$2,977,701
$652,404 |
$4,524,951 |
| 26 |
$8,562,960 |
$3,128,626
$685,037 |
$4,749,297 |
| 27 |
$8,991,024 |
$3,287,009
$719,282 |
$4,984,733 |
| 28 |
$9,440,592 |
$3,453,349
$755,247 |
$5,231,996 |
| 29 |
$9,912,672 |
$3,628,019
$793,014 |
$5,491,639 |
| 30 |
$10,408,272 |
$3,811,391
$832,662 |
$5,764,219 |
|
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