New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Aug 16, 2025 is estimated to be $565 Million, with a cash option of 258.8 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 Aug 16, 2025

Draw Date	Jackpot	Cash Option
Sat Aug 16, 2025	$565,000,000	$258,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$258,800,000
Federal Tax(24%)	$62,112,000
Additional Federal Tax	$33,604,330
State Tax(8%)	$20,704,000
Net Lumpsum Payment	$142,379,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,503,815	-$3,106,742 -$680,305	$4,716,768
2	$8,929,260	-$3,264,157 -$714,341	$4,950,762
3	$9,375,610	-$3,429,306 -$750,049	$5,196,255
4	$9,844,560	-$3,602,818 -$787,565	$5,454,177
5	$10,336,675	-$3,784,900 -$826,934	$5,724,841
6	$10,853,650	-$3,976,181 -$868,292	$6,009,177
7	$11,396,050	-$4,176,869 -$911,684	$6,307,497
8	$11,966,135	-$4,387,800 -$957,291	$6,621,044
9	$12,564,470	-$4,609,184 -$1,005,158	$6,950,128
10	$13,192,750	-$4,841,648 -$1,055,420	$7,295,682
11	$13,852,105	-$5,085,609 -$1,108,168	$7,658,328
12	$14,544,795	-$5,341,905 -$1,163,584	$8,039,306
13	$15,271,950	-$5,610,952 -$1,221,756	$8,439,242
14	$16,035,830	-$5,893,587 -$1,282,866	$8,859,377
15	$16,837,565	-$6,190,229 -$1,347,005	$9,300,331
16	$17,679,415	-$6,501,714 -$1,414,353	$9,763,348
17	$18,563,075	-$6,828,668 -$1,485,046	$10,249,361
18	$19,491,370	-$7,172,137 -$1,559,310	$10,759,923
19	$20,465,995	-$7,532,749 -$1,637,280	$11,295,966
20	$21,489,210	-$7,911,338 -$1,719,137	$11,858,735
21	$22,563,840	-$8,308,951 -$1,805,107	$12,449,782
22	$23,692,145	-$8,726,424 -$1,895,372	$13,070,349
23	$24,876,385	-$9,164,593 -$1,990,111	$13,721,681
24	$26,120,515	-$9,624,921 -$2,089,641	$14,405,953
25	$27,426,230	-$10,108,035 -$2,194,098	$15,124,097
26	$28,798,050	-$10,615,609 -$2,303,844	$15,878,597
27	$30,237,670	-$11,148,268 -$2,419,014	$16,670,388
28	$31,749,610	-$11,707,686 -$2,539,969	$17,501,955
29	$33,337,260	-$12,295,117 -$2,666,981	$18,375,162
30	$35,004,010	-$12,911,814 -$2,800,321	$19,291,875