The jackpot for the Powerball draw on Sat Jul 12, 2025, is projected to be $234 Million, with an option for a cash payout of $106.6 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 Sat Jul 12, 2025 |
|---|
| Draw Date | Sat Jul 12, 2025 | | Projected Jackpot | $234,000,000 | | Cash Value | $106,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $106,600,000 | | Federal Tax(24%) | $25,584,000 | | Additional Federal Tax | $13,818,330 | | State Tax(8%) | $8,528,000 | | Net Lumpsum Payment | $58,669,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,521,934 |
$1,263,446
$281,755 |
$1,976,733 |
| 2 |
$3,698,136 |
$1,328,641
$295,851 |
$2,073,644 |
| 3 |
$3,882,996 |
$1,397,039
$310,640 |
$2,175,317 |
| 4 |
$4,077,216 |
$1,468,900
$326,177 |
$2,282,139 |
| 5 |
$4,281,030 |
$1,544,311
$342,482 |
$2,394,237 |
| 6 |
$4,495,140 |
$1,623,532
$359,611 |
$2,511,997 |
| 7 |
$4,719,780 |
$1,706,649
$377,582 |
$2,635,549 |
| 8 |
$4,955,886 |
$1,794,008
$396,471 |
$2,765,407 |
| 9 |
$5,203,692 |
$1,885,696
$416,295 |
$2,901,701 |
| 10 |
$5,463,900 |
$1,981,973
$437,112 |
$3,044,815 |
| 11 |
$5,736,978 |
$2,083,012
$458,958 |
$3,195,008 |
| 12 |
$6,023,862 |
$2,189,159
$481,909 |
$3,352,794 |
| 13 |
$6,325,020 |
$2,300,588
$506,002 |
$3,518,430 |
| 14 |
$6,641,388 |
$2,417,644
$531,311 |
$3,692,433 |
| 15 |
$6,973,434 |
$2,540,501
$557,875 |
$3,875,058 |
| 16 |
$7,322,094 |
$2,669,505
$585,768 |
$4,066,821 |
| 17 |
$7,688,070 |
$2,804,916
$615,046 |
$4,268,108 |
| 18 |
$8,072,532 |
$2,947,167
$645,803 |
$4,479,562 |
| 19 |
$8,476,182 |
$3,096,518
$678,095 |
$4,701,569 |
| 20 |
$8,899,956 |
$3,253,314
$711,996 |
$4,934,646 |
| 21 |
$9,345,024 |
$3,417,989
$747,602 |
$5,179,433 |
| 22 |
$9,812,322 |
$3,590,890
$784,986 |
$5,436,446 |
| 23 |
$10,302,786 |
$3,772,361
$824,223 |
$5,706,202 |
| 24 |
$10,818,054 |
$3,963,010
$865,444 |
$5,989,600 |
| 25 |
$11,358,828 |
$4,163,097
$908,706 |
$6,287,025 |
| 26 |
$11,926,980 |
$4,373,313
$954,158 |
$6,599,509 |
| 27 |
$12,523,212 |
$4,593,919
$1,001,857 |
$6,927,436 |
| 28 |
$13,149,396 |
$4,825,607
$1,051,952 |
$7,271,837 |
| 29 |
$13,806,936 |
$5,068,897
$1,104,555 |
$7,633,484 |
| 30 |
$14,497,236 |
$5,324,308
$1,159,779 |
$8,013,149 |
|
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