Jackpot Analysis New Jersey Powerball

Jackpot Analysis for New Jersey Powerball
The jackpot for the Powerball draw on Mon May 19, 2025, is projected to be $134 Million, with an option for a cash payout of $60.3 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Jersey residents, the state will deduct 8% from your lottery earnings.

New Jersey Powerball Jackpot/Cash Option for Mon May 19, 2025
Draw DateMon May 19, 2025
Projected Jackpot$134,000,000
Cash Value$60,300,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$60,300,000
Federal Tax(24%)$14,472,000
Additional Federal Tax$7,799,330
State Tax(8%)$4,824,000
Net Lumpsum Payment$33,204,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,016,834 $706,559
$161,347
$1,148,928
2 $2,117,736 $743,893
$169,419
$1,204,424
3 $2,223,596 $783,061
$177,888
$1,262,647
4 $2,334,816 $824,212
$186,785
$1,323,819
5 $2,451,530 $867,396
$196,122
$1,388,012
6 $2,574,140 $912,762
$205,931
$1,455,447
7 $2,702,780 $960,359
$216,222
$1,526,199
8 $2,837,986 $1,010,385
$227,039
$1,600,562
9 $2,979,892 $1,062,890
$238,391
$1,678,611
10 $3,128,900 $1,118,023
$250,312
$1,760,565
11 $3,285,278 $1,175,883
$262,822
$1,846,573
12 $3,449,562 $1,236,668
$275,965
$1,936,929
13 $3,622,020 $1,300,478
$289,762
$2,031,780
14 $3,803,188 $1,367,510
$304,255
$2,131,423
15 $3,993,334 $1,437,864
$319,467
$2,236,003
16 $4,192,994 $1,511,738
$335,440
$2,345,816
17 $4,402,570 $1,589,281
$352,206
$2,461,083
18 $4,622,732 $1,670,741
$369,819
$2,582,172
19 $4,853,882 $1,756,267
$388,311
$2,709,304
20 $5,096,556 $1,846,056
$407,724
$2,842,776
21 $5,351,424 $1,940,357
$428,114
$2,982,953
22 $5,619,022 $2,039,369
$449,522
$3,130,131
23 $5,899,886 $2,143,288
$471,991
$3,284,607
24 $6,194,954 $2,252,463
$495,596
$3,446,895
25 $6,504,628 $2,367,043
$520,370
$3,617,215
26 $6,829,980 $2,487,423
$546,398
$3,796,159
27 $7,171,412 $2,613,753
$573,713
$3,983,946
28 $7,529,996 $2,746,429
$602,400
$4,181,167
29 $7,906,536 $2,885,749
$632,523
$4,388,264
30 $8,301,836 $3,032,010
$664,147
$4,605,679