New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Nov 24, 2025 is estimated to be $654 Million, with a cash option of 303.2 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 Mon Nov 24, 2025

Draw Date	Jackpot	Cash Option
Mon Nov 24, 2025	$654,000,000	$303,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$303,200,000
Federal Tax(24%)	$72,768,000
Additional Federal Tax	$39,376,330
State Tax(8%)	$24,256,000
Net Lumpsum Payment	$166,799,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,843,354	-$3,602,371 -$787,468	$5,453,515
2	$10,335,816	-$3,784,582 -$826,865	$5,724,369
3	$10,852,476	-$3,975,747 -$868,198	$6,008,531
4	$11,395,296	-$4,176,590 -$911,624	$6,307,082
5	$11,964,930	-$4,387,354 -$957,194	$6,620,382
6	$12,563,340	-$4,608,766 -$1,005,067	$6,949,507
7	$13,191,180	-$4,841,067 -$1,055,294	$7,294,819
8	$13,851,066	-$5,085,225 -$1,108,085	$7,657,756
9	$14,543,652	-$5,341,482 -$1,163,492	$8,038,678
10	$15,270,900	-$5,610,563 -$1,221,672	$8,438,665
11	$16,034,118	-$5,892,954 -$1,282,729	$8,858,435
12	$16,835,922	-$6,189,622 -$1,346,874	$9,299,426
13	$17,677,620	-$6,501,050 -$1,414,210	$9,762,360
14	$18,561,828	-$6,828,207 -$1,484,946	$10,248,675
15	$19,489,854	-$7,171,576 -$1,559,188	$10,759,090
16	$20,464,314	-$7,532,127 -$1,637,145	$11,295,042
17	$21,487,170	-$7,910,583 -$1,718,974	$11,857,613
18	$22,561,692	-$8,308,156 -$1,804,935	$12,448,601
19	$23,689,842	-$8,725,572 -$1,895,187	$13,069,083
20	$24,874,236	-$9,163,798 -$1,989,939	$13,720,499
21	$26,118,144	-$9,624,044 -$2,089,452	$14,404,648
22	$27,424,182	-$10,107,278 -$2,193,935	$15,122,969
23	$28,794,966	-$10,614,468 -$2,303,597	$15,876,901
24	$30,235,074	-$11,147,308 -$2,418,806	$16,668,960
25	$31,746,468	-$11,706,524 -$2,539,717	$17,500,227
26	$33,334,380	-$12,294,051 -$2,666,750	$18,373,579
27	$35,000,772	-$12,910,616 -$2,800,062	$19,290,094
28	$36,750,876	-$13,558,155 -$2,940,070	$20,252,651
29	$38,588,616	-$14,238,118 -$3,087,089	$21,263,409
30	$40,517,916	-$14,951,959 -$3,241,433	$22,324,524