The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(8%) | $34,312,000 | | Net Lumpsum Payment | $235,934,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$1,143,876 |
$7,903,817 |
| 2 |
$15,013,800 |
$5,515,436
$1,201,104 |
$8,297,260 |
| 3 |
$15,764,300 |
$5,793,121
$1,261,144 |
$8,710,035 |
| 4 |
$16,552,800 |
$6,084,866
$1,324,224 |
$9,143,710 |
| 5 |
$17,380,250 |
$6,391,023
$1,390,420 |
$9,598,807 |
| 6 |
$18,249,500 |
$6,712,645
$1,459,960 |
$10,076,895 |
| 7 |
$19,161,500 |
$7,050,085
$1,532,920 |
$10,578,495 |
| 8 |
$20,120,050 |
$7,404,749
$1,609,604 |
$11,105,697 |
| 9 |
$21,126,100 |
$7,776,987
$1,690,088 |
$11,659,025 |
| 10 |
$22,182,500 |
$8,167,855
$1,774,600 |
$12,240,045 |
| 11 |
$23,291,150 |
$8,578,056
$1,863,292 |
$12,849,802 |
| 12 |
$24,455,850 |
$9,008,995
$1,956,468 |
$13,490,387 |
| 13 |
$25,678,500 |
$9,461,375
$2,054,280 |
$14,162,845 |
| 14 |
$26,962,900 |
$9,936,603
$2,157,032 |
$14,869,265 |
| 15 |
$28,310,950 |
$10,435,382
$2,264,876 |
$15,610,692 |
| 16 |
$29,726,450 |
$10,959,117
$2,378,116 |
$16,389,217 |
| 17 |
$31,212,250 |
$11,508,863
$2,496,980 |
$17,206,407 |
| 18 |
$32,773,100 |
$12,086,377
$2,621,848 |
$18,064,875 |
| 19 |
$34,411,850 |
$12,692,715
$2,752,948 |
$18,966,187 |
| 20 |
$36,132,300 |
$13,329,281
$2,890,584 |
$19,912,435 |
| 21 |
$37,939,200 |
$13,997,834
$3,035,136 |
$20,906,230 |
| 22 |
$39,836,350 |
$14,699,780
$3,186,908 |
$21,949,662 |
| 23 |
$41,827,550 |
$15,436,524
$3,346,204 |
$23,044,822 |
| 24 |
$43,919,450 |
$16,210,527
$3,513,556 |
$24,195,367 |
| 25 |
$46,114,900 |
$17,022,843
$3,689,192 |
$25,402,865 |
| 26 |
$48,421,500 |
$17,876,285
$3,873,720 |
$26,671,495 |
| 27 |
$50,842,100 |
$18,771,907
$4,067,368 |
$28,002,825 |
| 28 |
$53,384,300 |
$19,712,521
$4,270,744 |
$29,401,035 |
| 29 |
$56,053,800 |
$20,700,236
$4,484,304 |
$30,869,260 |
| 30 |
$58,856,300 |
$21,737,161
$4,708,504 |
$32,410,635 |
|
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