The jackpot for the Powerball draw on Wed Sep 24, 2025, is projected to be $127 Million, with an option for a cash payout of $59 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 Sep 24, 2025 |
|---|
| Draw Date | Wed Sep 24, 2025 | | Projected Jackpot | $127,000,000 | | Cash Value | $59,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $59,000,000 | | Federal Tax(24%) | $14,160,000 | | Additional Federal Tax | $7,630,330 | | State Tax(8%) | $4,720,000 | | Net Lumpsum Payment | $32,489,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,911,477 |
$667,577
$152,918 |
$1,090,982 |
| 2 |
$2,007,108 |
$702,960
$160,569 |
$1,143,579 |
| 3 |
$2,107,438 |
$740,082
$168,595 |
$1,198,761 |
| 4 |
$2,212,848 |
$779,084
$177,028 |
$1,256,736 |
| 5 |
$2,323,465 |
$820,012
$185,877 |
$1,317,576 |
| 6 |
$2,439,670 |
$863,008
$195,174 |
$1,381,488 |
| 7 |
$2,561,590 |
$908,119
$204,927 |
$1,448,544 |
| 8 |
$2,689,733 |
$955,532
$215,179 |
$1,519,022 |
| 9 |
$2,824,226 |
$1,005,294
$225,938 |
$1,592,994 |
| 10 |
$2,965,450 |
$1,057,547
$237,236 |
$1,670,667 |
| 11 |
$3,113,659 |
$1,112,384
$249,093 |
$1,752,182 |
| 12 |
$3,269,361 |
$1,169,994
$261,549 |
$1,837,818 |
| 13 |
$3,432,810 |
$1,230,470
$274,625 |
$1,927,715 |
| 14 |
$3,604,514 |
$1,294,001
$288,361 |
$2,022,152 |
| 15 |
$3,784,727 |
$1,360,679
$302,778 |
$2,121,270 |
| 16 |
$3,973,957 |
$1,430,694
$317,917 |
$2,225,346 |
| 17 |
$4,172,585 |
$1,504,187
$333,807 |
$2,334,591 |
| 18 |
$4,381,246 |
$1,581,391
$350,500 |
$2,449,355 |
| 19 |
$4,600,321 |
$1,662,449
$368,026 |
$2,569,846 |
| 20 |
$4,830,318 |
$1,747,548
$386,425 |
$2,696,345 |
| 21 |
$5,071,872 |
$1,836,923
$405,750 |
$2,829,199 |
| 22 |
$5,325,491 |
$1,930,762
$426,039 |
$2,968,690 |
| 23 |
$5,591,683 |
$2,029,253
$447,335 |
$3,115,095 |
| 24 |
$5,871,337 |
$2,132,725
$469,707 |
$3,268,905 |
| 25 |
$6,164,834 |
$2,241,319
$493,187 |
$3,430,328 |
| 26 |
$6,473,190 |
$2,355,411
$517,855 |
$3,599,924 |
| 27 |
$6,796,786 |
$2,475,141
$543,743 |
$3,777,902 |
| 28 |
$7,136,638 |
$2,600,886
$570,931 |
$3,964,821 |
| 29 |
$7,493,508 |
$2,732,928
$599,481 |
$4,161,099 |
| 30 |
$7,868,158 |
$2,871,549
$629,453 |
$4,367,156 |
|
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