New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Oct 1, 2025 is estimated to be $174 Million, with a cash option of 80.7 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 Wed Oct 1, 2025

Draw Date	Jackpot	Cash Option
Wed Oct 1, 2025	$174,000,000	$80,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$80,700,000
Federal Tax(24%)	$19,368,000
Additional Federal Tax	$10,451,330
State Tax(8%)	$6,456,000
Net Lumpsum Payment	$44,424,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,618,874	-$929,314 -$209,510	$1,480,050
2	$2,749,896	-$977,792 -$219,992	$1,552,112
3	$2,887,356	-$1,028,652 -$230,988	$1,627,716
4	$3,031,776	-$1,082,088 -$242,542	$1,707,146
5	$3,183,330	-$1,138,162 -$254,666	$1,790,502
6	$3,342,540	-$1,197,070 -$267,403	$1,878,067
7	$3,509,580	-$1,258,875 -$280,766	$1,969,939
8	$3,685,146	-$1,323,834 -$294,812	$2,066,500
9	$3,869,412	-$1,392,013 -$309,553	$2,167,846
10	$4,062,900	-$1,463,603 -$325,032	$2,274,265
11	$4,265,958	-$1,538,735 -$341,277	$2,385,946
12	$4,479,282	-$1,617,665 -$358,343	$2,503,274
13	$4,703,220	-$1,700,522 -$376,258	$2,626,440
14	$4,938,468	-$1,787,564 -$395,077	$2,755,827
15	$5,185,374	-$1,878,919 -$414,830	$2,891,625
16	$5,444,634	-$1,974,845 -$435,571	$3,034,218
17	$5,716,770	-$2,075,535 -$457,342	$3,183,893
18	$6,002,652	-$2,181,312 -$480,212	$3,341,128
19	$6,302,802	-$2,292,367 -$504,224	$3,506,211
20	$6,617,916	-$2,408,959 -$529,433	$3,679,524
21	$6,948,864	-$2,531,410 -$555,909	$3,861,545
22	$7,296,342	-$2,659,977 -$583,707	$4,052,658
23	$7,661,046	-$2,794,917 -$612,884	$4,253,245
24	$8,044,194	-$2,936,682 -$643,536	$4,463,976
25	$8,446,308	-$3,085,464 -$675,705	$4,685,139
26	$8,868,780	-$3,241,779 -$709,502	$4,917,499
27	$9,312,132	-$3,405,819 -$744,971	$5,161,342
28	$9,777,756	-$3,578,100 -$782,220	$5,417,436
29	$10,266,696	-$3,759,008 -$821,336	$5,686,352
30	$10,779,996	-$3,948,929 -$862,400	$5,968,667