New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jul 19, 2025 is estimated to be $288 Million, with a cash option of 130.6 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 Jul 19, 2025

Draw Date	Jackpot	Cash Option
Sat Jul 19, 2025	$288,000,000	$130,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$130,600,000
Federal Tax(24%)	$31,344,000
Additional Federal Tax	$16,938,330
State Tax(8%)	$10,448,000
Net Lumpsum Payment	$71,869,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,334,688	-$1,564,165 -$346,775	$2,423,748
2	$4,551,552	-$1,644,405 -$364,124	$2,543,023
3	$4,779,072	-$1,728,587 -$382,326	$2,668,159
4	$5,018,112	-$1,817,032 -$401,449	$2,799,631
5	$5,268,960	-$1,909,846 -$421,517	$2,937,597
6	$5,532,480	-$2,007,348 -$442,598	$3,082,534
7	$5,808,960	-$2,109,646 -$464,717	$3,234,597
8	$6,099,552	-$2,217,165 -$487,964	$3,394,423
9	$6,404,544	-$2,330,012 -$512,364	$3,562,168
10	$6,724,800	-$2,448,506 -$537,984	$3,738,310
11	$7,060,896	-$2,572,862 -$564,872	$3,923,162
12	$7,413,984	-$2,703,504 -$593,119	$4,117,361
13	$7,784,640	-$2,840,647 -$622,771	$4,321,222
14	$8,174,016	-$2,984,716 -$653,921	$4,535,379
15	$8,582,688	-$3,135,925 -$686,615	$4,760,148
16	$9,011,808	-$3,294,699 -$720,945	$4,996,164
17	$9,462,240	-$3,461,359 -$756,979	$5,243,902
18	$9,935,424	-$3,636,437 -$794,834	$5,504,153
19	$10,432,224	-$3,820,253 -$834,578	$5,777,393
20	$10,953,792	-$4,013,233 -$876,303	$6,064,256
21	$11,501,568	-$4,215,911 -$920,125	$6,365,532
22	$12,076,704	-$4,428,711 -$966,136	$6,681,857
23	$12,680,352	-$4,652,061 -$1,014,428	$7,013,863
24	$13,314,528	-$4,886,706 -$1,065,162	$7,362,660
25	$13,980,096	-$5,132,966 -$1,118,408	$7,728,722
26	$14,679,360	-$5,391,694 -$1,174,349	$8,113,317
27	$15,413,184	-$5,663,208 -$1,233,055	$8,516,921
28	$16,183,872	-$5,948,363 -$1,294,710	$8,940,799
29	$16,993,152	-$6,247,797 -$1,359,452	$9,385,903
30	$17,842,752	-$6,562,149 -$1,427,420	$9,853,183