New Jersey Lottery

NJLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 16, 2025 is estimated to be $90 Million, with a cash option of 40.7 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 Jun 16, 2025

Draw Date	Jackpot	Cash Option
Mon Jun 16, 2025	$90,000,000	$40,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$40,700,000
Federal Tax(24%)	$9,768,000
Additional Federal Tax	$5,251,330
State Tax(8%)	$3,256,000
Net Lumpsum Payment	$22,424,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,354,590	-$461,529 -$108,367	$784,694
2	$1,422,360	-$486,604 -$113,789	$821,967
3	$1,493,460	-$512,911 -$119,477	$861,072
4	$1,568,160	-$540,550 -$125,453	$902,157
5	$1,646,550	-$569,554 -$131,724	$945,272
6	$1,728,900	-$600,023 -$138,312	$990,565
7	$1,815,300	-$631,991 -$145,224	$1,038,085
8	$1,906,110	-$665,591 -$152,489	$1,088,030
9	$2,001,420	-$700,856 -$160,114	$1,140,450
10	$2,101,500	-$737,885 -$168,120	$1,195,495
11	$2,206,530	-$776,746 -$176,522	$1,253,262
12	$2,316,870	-$817,572 -$185,350	$1,313,948
13	$2,432,700	-$860,429 -$194,616	$1,377,655
14	$2,554,380	-$905,451 -$204,350	$1,444,579
15	$2,682,090	-$952,704 -$214,567	$1,514,819
16	$2,816,190	-$1,002,321 -$225,295	$1,588,574
17	$2,956,950	-$1,054,402 -$236,556	$1,665,992
18	$3,104,820	-$1,109,114 -$248,386	$1,747,320
19	$3,260,070	-$1,166,556 -$260,806	$1,832,708
20	$3,423,060	-$1,226,863 -$273,845	$1,922,352
21	$3,594,240	-$1,290,199 -$287,539	$2,016,502
22	$3,773,970	-$1,356,699 -$301,918	$2,115,353
23	$3,962,610	-$1,426,496 -$317,009	$2,219,105
24	$4,160,790	-$1,499,823 -$332,863	$2,328,104
25	$4,368,780	-$1,576,779 -$349,502	$2,442,499
26	$4,587,300	-$1,657,631 -$366,984	$2,562,685
27	$4,816,620	-$1,742,480 -$385,330	$2,688,810
28	$5,057,460	-$1,831,591 -$404,597	$2,821,272
29	$5,310,360	-$1,925,164 -$424,829	$2,960,367
30	$5,575,860	-$2,023,399 -$446,069	$3,106,392