The jackpot for the Powerball draw on Mon Mar 2, 2026, is projected to be $249 Million, with an option for a cash payout of $117.2 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 Mar 2, 2026 |
|---|
| Draw Date | Mon Mar 2, 2026 | | Projected Jackpot | $249,000,000 | | Cash Value | $117,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $117,200,000 | | Federal Tax(24%) | $28,128,000 | | Additional Federal Tax | $15,196,330 | | State Tax(8%) | $9,376,000 | | Net Lumpsum Payment | $64,499,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,747,699 |
$1,346,979
$299,816 |
$2,100,904 |
| 2 |
$3,935,196 |
$1,416,353
$314,816 |
$2,204,027 |
| 3 |
$4,131,906 |
$1,489,136
$330,552 |
$2,312,218 |
| 4 |
$4,338,576 |
$1,565,604
$347,086 |
$2,425,886 |
| 5 |
$4,555,455 |
$1,645,849
$364,436 |
$2,545,170 |
| 6 |
$4,783,290 |
$1,730,148
$382,663 |
$2,670,479 |
| 7 |
$5,022,330 |
$1,818,592
$401,786 |
$2,801,952 |
| 8 |
$5,273,571 |
$1,911,552
$421,886 |
$2,940,133 |
| 9 |
$5,537,262 |
$2,009,117
$442,981 |
$3,085,164 |
| 10 |
$5,814,150 |
$2,111,566
$465,132 |
$3,237,452 |
| 11 |
$6,104,733 |
$2,219,082
$488,379 |
$3,397,272 |
| 12 |
$6,410,007 |
$2,332,033
$512,801 |
$3,565,173 |
| 13 |
$6,730,470 |
$2,450,604
$538,438 |
$3,741,428 |
| 14 |
$7,067,118 |
$2,575,164
$565,369 |
$3,926,585 |
| 15 |
$7,420,449 |
$2,705,897
$593,636 |
$4,120,916 |
| 16 |
$7,791,459 |
$2,843,170
$623,317 |
$4,324,972 |
| 17 |
$8,180,895 |
$2,987,262
$654,472 |
$4,539,161 |
| 18 |
$8,590,002 |
$3,138,631
$687,200 |
$4,764,171 |
| 19 |
$9,019,527 |
$3,297,555
$721,562 |
$5,000,410 |
| 20 |
$9,470,466 |
$3,464,403
$757,637 |
$5,248,426 |
| 21 |
$9,944,064 |
$3,639,634
$795,525 |
$5,508,905 |
| 22 |
$10,441,317 |
$3,823,618
$835,305 |
$5,782,394 |
| 23 |
$10,963,221 |
$4,016,722
$877,058 |
$6,069,441 |
| 24 |
$11,511,519 |
$4,219,592
$920,922 |
$6,371,005 |
| 25 |
$12,086,958 |
$4,432,505
$966,957 |
$6,687,496 |
| 26 |
$12,691,530 |
$4,656,196
$1,015,322 |
$7,020,012 |
| 27 |
$13,325,982 |
$4,890,944
$1,066,079 |
$7,368,959 |
| 28 |
$13,992,306 |
$5,137,484
$1,119,384 |
$7,735,438 |
| 29 |
$14,691,996 |
$5,396,369
$1,175,360 |
$8,120,267 |
| 30 |
$15,426,546 |
$5,668,152
$1,234,124 |
$8,524,270 |
|
|
