The jackpot for the Powerball draw on Sat Apr 19, 2025, is projected to be $131 Million, with an option for a cash payout of $58.6 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 Apr 19, 2025 |
|---|
| Draw Date | Sat Apr 19, 2025 | | Projected Jackpot | $131,000,000 | | Cash Value | $58,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $58,600,000 | | Federal Tax(24%) | $14,064,000 | | Additional Federal Tax | $7,578,330 | | State Tax(8%) | $4,688,000 | | Net Lumpsum Payment | $32,269,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$157,734 |
$1,124,095 |
| 2 |
$2,070,324 |
$726,350
$165,626 |
$1,178,348 |
| 3 |
$2,173,814 |
$764,642
$173,905 |
$1,235,267 |
| 4 |
$2,282,544 |
$804,872
$182,604 |
$1,295,068 |
| 5 |
$2,396,645 |
$847,089
$191,732 |
$1,357,824 |
| 6 |
$2,516,510 |
$891,439
$201,321 |
$1,423,750 |
| 7 |
$2,642,270 |
$937,970
$211,382 |
$1,492,918 |
| 8 |
$2,774,449 |
$986,877
$221,956 |
$1,565,616 |
| 9 |
$2,913,178 |
$1,038,206
$233,054 |
$1,641,918 |
| 10 |
$3,058,850 |
$1,092,105
$244,708 |
$1,722,037 |
| 11 |
$3,211,727 |
$1,148,669
$256,938 |
$1,806,120 |
| 12 |
$3,372,333 |
$1,208,094
$269,787 |
$1,894,452 |
| 13 |
$3,540,930 |
$1,270,474
$283,274 |
$1,987,182 |
| 14 |
$3,718,042 |
$1,336,006
$297,443 |
$2,084,593 |
| 15 |
$3,903,931 |
$1,404,785
$312,314 |
$2,186,832 |
| 16 |
$4,099,121 |
$1,477,005
$327,930 |
$2,294,186 |
| 17 |
$4,304,005 |
$1,552,812
$344,320 |
$2,406,873 |
| 18 |
$4,519,238 |
$1,632,448
$361,539 |
$2,525,251 |
| 19 |
$4,745,213 |
$1,716,059
$379,617 |
$2,649,537 |
| 20 |
$4,982,454 |
$1,803,838
$398,596 |
$2,780,020 |
| 21 |
$5,231,616 |
$1,896,028
$418,529 |
$2,917,059 |
| 22 |
$5,493,223 |
$1,992,823
$439,458 |
$3,060,942 |
| 23 |
$5,767,799 |
$2,094,416
$461,424 |
$3,211,959 |
| 24 |
$6,056,261 |
$2,201,147
$484,501 |
$3,370,613 |
| 25 |
$6,359,002 |
$2,313,161
$508,720 |
$3,537,121 |
| 26 |
$6,677,070 |
$2,430,846
$534,166 |
$3,712,058 |
| 27 |
$7,010,858 |
$2,554,348
$560,869 |
$3,895,641 |
| 28 |
$7,361,414 |
$2,684,054
$588,913 |
$4,088,447 |
| 29 |
$7,729,524 |
$2,820,254
$618,362 |
$4,290,908 |
| 30 |
$8,115,974 |
$2,963,241
$649,278 |
$4,503,455 |
|
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