New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 26, 2025 is estimated to be $168 Million, with a cash option of 77.1 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New Jersey, your state will take 8% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Jersey Powerball Jackpot/Cash Option for Sat Apr 26, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 26, 2025	$168,000,000	$77,100,000

Lumpsum Option Taxes and Payment

Category	Amount
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

Year	Gross Payment	Fed/State Tax	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