The jackpot for the Powerball draw on Wed Jan 21, 2026, is projected to be $209 Million, with an option for a cash payout of $95.2 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 Wed Jan 21, 2026 |
|---|
| Draw Date | Wed Jan 21, 2026 | | Projected Jackpot | $209,000,000 | | Cash Value | $95,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $95,200,000 | | Federal Tax(24%) | $22,848,000 | | Additional Federal Tax | $12,336,330 | | State Tax(8%) | $7,616,000 | | Net Lumpsum Payment | $52,399,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,145,659 |
$1,124,224
$251,653 |
$1,769,782 |
| 2 |
$3,303,036 |
$1,182,454
$264,243 |
$1,856,339 |
| 3 |
$3,468,146 |
$1,243,544
$277,452 |
$1,947,150 |
| 4 |
$3,641,616 |
$1,307,728
$291,329 |
$2,042,559 |
| 5 |
$3,823,655 |
$1,375,083
$305,892 |
$2,142,680 |
| 6 |
$4,014,890 |
$1,445,840
$321,191 |
$2,247,859 |
| 7 |
$4,215,530 |
$1,520,076
$337,242 |
$2,358,212 |
| 8 |
$4,426,411 |
$1,598,102
$354,113 |
$2,474,196 |
| 9 |
$4,647,742 |
$1,679,995
$371,819 |
$2,595,928 |
| 10 |
$4,880,150 |
$1,765,986
$390,412 |
$2,723,752 |
| 11 |
$5,124,053 |
$1,856,230
$409,924 |
$2,857,899 |
| 12 |
$5,380,287 |
$1,951,037
$430,423 |
$2,998,827 |
| 13 |
$5,649,270 |
$2,050,560
$451,942 |
$3,146,768 |
| 14 |
$5,931,838 |
$2,155,110
$474,547 |
$3,302,181 |
| 15 |
$6,228,409 |
$2,264,842
$498,273 |
$3,465,294 |
| 16 |
$6,539,819 |
$2,380,063
$523,186 |
$3,636,570 |
| 17 |
$6,866,695 |
$2,501,008
$549,336 |
$3,816,351 |
| 18 |
$7,210,082 |
$2,628,061
$576,807 |
$4,005,214 |
| 19 |
$7,570,607 |
$2,761,455
$605,649 |
$4,203,503 |
| 20 |
$7,949,106 |
$2,901,500
$635,928 |
$4,411,678 |
| 21 |
$8,346,624 |
$3,048,581
$667,730 |
$4,630,313 |
| 22 |
$8,763,997 |
$3,203,009
$701,120 |
$4,859,868 |
| 23 |
$9,202,061 |
$3,365,093
$736,165 |
$5,100,803 |
| 24 |
$9,662,279 |
$3,535,374
$772,982 |
$5,353,923 |
| 25 |
$10,145,278 |
$3,714,083
$811,622 |
$5,619,573 |
| 26 |
$10,652,730 |
$3,901,840
$852,218 |
$5,898,672 |
| 27 |
$11,185,262 |
$4,098,877
$894,821 |
$6,191,564 |
| 28 |
$11,744,546 |
$4,305,812
$939,564 |
$6,499,170 |
| 29 |
$12,331,836 |
$4,523,110
$986,547 |
$6,822,179 |
| 30 |
$12,948,386 |
$4,751,233
$1,035,871 |
$7,161,282 |
|
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