The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(8%) | $11,840,000 | | Net Lumpsum Payment | $81,439,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$393,734 |
$2,746,592 |
| 2 |
$5,167,908 |
$1,872,456
$413,433 |
$2,882,019 |
| 3 |
$5,426,238 |
$1,968,038
$434,099 |
$3,024,101 |
| 4 |
$5,697,648 |
$2,068,460
$455,812 |
$3,173,376 |
| 5 |
$5,982,465 |
$2,173,842
$478,597 |
$3,330,026 |
| 6 |
$6,281,670 |
$2,284,548
$502,534 |
$3,494,588 |
| 7 |
$6,595,590 |
$2,400,699
$527,647 |
$3,667,244 |
| 8 |
$6,925,533 |
$2,522,778
$554,043 |
$3,848,712 |
| 9 |
$7,271,826 |
$2,650,906
$581,746 |
$4,039,174 |
| 10 |
$7,635,450 |
$2,785,447
$610,836 |
$4,239,167 |
| 11 |
$8,017,059 |
$2,926,642
$641,365 |
$4,449,052 |
| 12 |
$8,417,961 |
$3,074,976
$673,437 |
$4,669,548 |
| 13 |
$8,838,810 |
$3,230,690
$707,105 |
$4,901,015 |
| 14 |
$9,280,914 |
$3,394,269
$742,473 |
$5,144,172 |
| 15 |
$9,744,927 |
$3,565,953
$779,594 |
$5,399,380 |
| 16 |
$10,232,157 |
$3,746,228
$818,573 |
$5,667,356 |
| 17 |
$10,743,585 |
$3,935,457
$859,487 |
$5,948,641 |
| 18 |
$11,280,846 |
$4,134,243
$902,468 |
$6,244,135 |
| 19 |
$11,844,921 |
$4,342,951
$947,594 |
$6,554,376 |
| 20 |
$12,437,118 |
$4,562,064
$994,969 |
$6,880,085 |
| 21 |
$13,059,072 |
$4,792,187
$1,044,726 |
$7,222,159 |
| 22 |
$13,712,091 |
$5,033,804
$1,096,967 |
$7,581,320 |
| 23 |
$14,397,483 |
$5,287,399
$1,151,799 |
$7,958,285 |
| 24 |
$15,117,537 |
$5,553,819
$1,209,403 |
$8,354,315 |
| 25 |
$15,873,234 |
$5,833,427
$1,269,859 |
$8,769,948 |
| 26 |
$16,667,190 |
$6,127,191
$1,333,375 |
$9,206,624 |
| 27 |
$17,500,386 |
$6,435,473
$1,400,031 |
$9,664,882 |
| 28 |
$18,375,438 |
$6,759,242
$1,470,035 |
$10,146,161 |
| 29 |
$19,294,308 |
$7,099,224
$1,543,545 |
$10,651,539 |
| 30 |
$20,258,958 |
$7,456,145
$1,620,717 |
$11,182,096 |
|
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