New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 28, 2025 is estimated to be $155 Million, with a cash option of 69.8 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 Jun 28, 2025

Draw Date	Jackpot	Cash Option
Sat Jun 28, 2025	$155,000,000	$69,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$69,800,000
Federal Tax(24%)	$16,752,000
Additional Federal Tax	$9,034,330
State Tax(8%)	$5,584,000
Net Lumpsum Payment	$38,429,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,332,905	-$823,505 -$186,632	$1,322,768
2	$2,449,620	-$866,690 -$195,970	$1,386,960
3	$2,572,070	-$911,996 -$205,766	$1,454,308
4	$2,700,720	-$959,597 -$216,058	$1,525,065
5	$2,835,725	-$1,009,549 -$226,858	$1,599,318
6	$2,977,550	-$1,062,024 -$238,204	$1,677,322
7	$3,126,350	-$1,117,080 -$250,108	$1,759,162
8	$3,282,745	-$1,174,946 -$262,620	$1,845,179
9	$3,446,890	-$1,235,680 -$275,751	$1,935,459
10	$3,619,250	-$1,299,453 -$289,540	$2,030,257
11	$3,800,135	-$1,366,380 -$304,011	$2,129,744
12	$3,990,165	-$1,436,691 -$319,213	$2,234,261
13	$4,189,650	-$1,510,501 -$335,172	$2,343,977
14	$4,399,210	-$1,588,038 -$351,937	$2,459,235
15	$4,619,155	-$1,669,418 -$369,532	$2,580,205
16	$4,850,105	-$1,754,869 -$388,008	$2,707,228
17	$5,092,525	-$1,844,565 -$407,402	$2,840,558
18	$5,347,190	-$1,938,791 -$427,775	$2,980,624
19	$5,614,565	-$2,037,719 -$449,165	$3,127,681
20	$5,895,270	-$2,141,580 -$471,622	$3,282,068
21	$6,190,080	-$2,250,660 -$495,206	$3,444,214
22	$6,499,615	-$2,365,188 -$519,969	$3,614,458
23	$6,824,495	-$2,485,394 -$545,960	$3,793,141
24	$7,165,805	-$2,611,678 -$573,264	$3,980,863
25	$7,524,010	-$2,744,214 -$601,921	$4,177,875
26	$7,900,350	-$2,883,460 -$632,028	$4,384,862
27	$8,295,290	-$3,029,588 -$663,623	$4,602,079
28	$8,710,070	-$3,183,056 -$696,806	$4,830,208
29	$9,145,620	-$3,344,210 -$731,650	$5,069,760
30	$9,602,870	-$3,513,392 -$768,230	$5,321,248