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 Date | Mon 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 |
|
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