New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 7, 2025 is estimated to be $44 Million, with a cash option of 19.7 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 Sat Jun 7, 2025

Draw Date	Jackpot	Cash Option
Sat Jun 7, 2025	$44,000,000	$19,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$19,700,000
Federal Tax(24%)	$4,728,000
Additional Federal Tax	$2,521,330
State Tax(8%)	$1,576,000
Net Lumpsum Payment	$10,874,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$662,244	-$205,361 -$52,980	$403,903
2	$695,376	-$217,620 -$55,630	$422,126
3	$730,136	-$230,481 -$58,411	$441,244
4	$766,656	-$243,993 -$61,332	$461,331
5	$804,980	-$258,173 -$64,398	$482,409
6	$845,240	-$273,069 -$67,619	$504,552
7	$887,480	-$288,698 -$70,998	$527,784
8	$931,876	-$305,125 -$74,550	$552,201
9	$978,472	-$322,365 -$78,278	$577,829
10	$1,027,400	-$340,468 -$82,192	$604,740
11	$1,078,748	-$359,467 -$86,300	$632,981
12	$1,132,692	-$379,426 -$90,615	$662,651
13	$1,189,320	-$400,379 -$95,146	$693,795
14	$1,248,808	-$422,389 -$99,905	$726,514
15	$1,311,244	-$445,491 -$104,900	$760,853
16	$1,376,804	-$469,748 -$110,144	$796,912
17	$1,445,620	-$495,210 -$115,650	$834,760
18	$1,517,912	-$521,958 -$121,433	$874,521
19	$1,593,812	-$550,041 -$127,505	$916,266
20	$1,673,496	-$579,524 -$133,880	$960,092
21	$1,757,184	-$610,488 -$140,575	$1,006,121
22	$1,845,052	-$643,000 -$147,604	$1,054,448
23	$1,937,276	-$677,123 -$154,982	$1,105,171
24	$2,034,164	-$712,971 -$162,733	$1,158,460
25	$2,135,848	-$750,594 -$170,868	$1,214,386
26	$2,242,680	-$790,122 -$179,414	$1,273,144
27	$2,354,792	-$831,603 -$188,383	$1,334,806
28	$2,472,536	-$875,169 -$197,803	$1,399,564
29	$2,596,176	-$920,916 -$207,694	$1,467,566
30	$2,725,976	-$968,942 -$218,078	$1,538,956