New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 7, 2025 is estimated to be $203 Million, with a cash option of 92.5 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New Jersey, your state will take 8% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Jersey Powerball Jackpot/Cash Option for Mon Jul 7, 2025

Draw Date	Jackpot	Cash Option
Mon Jul 7, 2025	$203,000,000	$92,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,500,000
Federal Tax(24%)	$22,200,000
Additional Federal Tax	$11,985,330
State Tax(8%)	$7,400,000
Net Lumpsum Payment	$50,914,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$244,428	$1,720,114
2	$3,208,212	-$1,147,369 -$256,657	$1,804,186
3	$3,368,582	-$1,206,706 -$269,487	$1,892,389
4	$3,537,072	-$1,269,047 -$282,966	$1,985,059
5	$3,713,885	-$1,334,468 -$297,111	$2,082,306
6	$3,899,630	-$1,403,193 -$311,970	$2,184,467
7	$4,094,510	-$1,475,299 -$327,561	$2,291,650
8	$4,299,337	-$1,551,085 -$343,947	$2,404,305
9	$4,514,314	-$1,630,627 -$361,145	$2,522,542
10	$4,740,050	-$1,714,149 -$379,204	$2,646,697
11	$4,976,951	-$1,801,802 -$398,156	$2,776,993
12	$5,225,829	-$1,893,887 -$418,066	$2,913,876
13	$5,487,090	-$1,990,554 -$438,967	$3,057,569
14	$5,761,546	-$2,092,102 -$460,924	$3,208,520
15	$6,049,603	-$2,198,683 -$483,968	$3,366,952
16	$6,352,073	-$2,310,597 -$508,166	$3,533,310
17	$6,669,565	-$2,428,069 -$533,565	$3,707,931
18	$7,003,094	-$2,551,475 -$560,248	$3,891,371
19	$7,353,269	-$2,681,040 -$588,262	$4,083,967
20	$7,720,902	-$2,817,064 -$617,672	$4,286,166
21	$8,107,008	-$2,959,923 -$648,561	$4,498,524
22	$8,512,399	-$3,109,918 -$680,992	$4,721,489
23	$8,937,887	-$3,267,349 -$715,031	$4,955,507
24	$9,384,893	-$3,432,741 -$750,791	$5,201,361
25	$9,854,026	-$3,606,320 -$788,322	$5,459,384
26	$10,346,910	-$3,788,687 -$827,753	$5,730,470
27	$10,864,154	-$3,980,067 -$869,132	$6,014,955
28	$11,407,382	-$4,181,062 -$912,591	$6,313,729
29	$11,977,812	-$4,392,121 -$958,225	$6,627,466
30	$12,576,662	-$4,613,695 -$1,006,133	$6,956,834