The jackpot for the Powerball draw on Mon Mar 23, 2026, is projected to be $133 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 Mar 23, 2026 |
|---|
| Draw Date | Mon Mar 23, 2026 | | Projected Jackpot | $133,000,000 | | 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 |
$2,001,783 |
$700,990
$160,143 |
$1,140,650 |
| 2 |
$2,101,932 |
$738,045
$168,155 |
$1,195,732 |
| 3 |
$2,207,002 |
$776,921
$176,560 |
$1,253,521 |
| 4 |
$2,317,392 |
$817,765
$185,391 |
$1,314,236 |
| 5 |
$2,433,235 |
$860,627
$194,659 |
$1,377,949 |
| 6 |
$2,554,930 |
$905,654
$204,394 |
$1,444,882 |
| 7 |
$2,682,610 |
$952,896
$214,609 |
$1,515,105 |
| 8 |
$2,816,807 |
$1,002,549
$225,345 |
$1,588,913 |
| 9 |
$2,957,654 |
$1,054,662
$236,612 |
$1,666,380 |
| 10 |
$3,105,550 |
$1,109,384
$248,444 |
$1,747,722 |
| 11 |
$3,260,761 |
$1,166,812
$260,861 |
$1,833,088 |
| 12 |
$3,423,819 |
$1,227,143
$273,906 |
$1,922,770 |
| 13 |
$3,594,990 |
$1,290,477
$287,599 |
$2,016,914 |
| 14 |
$3,774,806 |
$1,357,009
$301,984 |
$2,115,813 |
| 15 |
$3,963,533 |
$1,426,838
$317,083 |
$2,219,612 |
| 16 |
$4,161,703 |
$1,500,160
$332,936 |
$2,328,607 |
| 17 |
$4,369,715 |
$1,577,125
$349,577 |
$2,443,013 |
| 18 |
$4,588,234 |
$1,657,977
$367,059 |
$2,563,198 |
| 19 |
$4,817,659 |
$1,742,864
$385,413 |
$2,689,382 |
| 20 |
$5,058,522 |
$1,831,984
$404,682 |
$2,821,856 |
| 21 |
$5,311,488 |
$1,925,581
$424,919 |
$2,960,988 |
| 22 |
$5,577,089 |
$2,023,853
$446,167 |
$3,107,069 |
| 23 |
$5,855,857 |
$2,126,997
$468,469 |
$3,260,391 |
| 24 |
$6,148,723 |
$2,235,358
$491,898 |
$3,421,467 |
| 25 |
$6,456,086 |
$2,349,082
$516,487 |
$3,590,517 |
| 26 |
$6,779,010 |
$2,468,564
$542,321 |
$3,768,125 |
| 27 |
$7,117,894 |
$2,593,951
$569,432 |
$3,954,511 |
| 28 |
$7,473,802 |
$2,725,637
$597,904 |
$4,150,261 |
| 29 |
$7,847,532 |
$2,863,917
$627,803 |
$4,355,812 |
| 30 |
$8,239,882 |
$3,009,087
$659,191 |
$4,571,604 |
|
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