The jackpot for the Powerball draw on Sat Aug 2, 2025, is projected to be $410 Million, with an option for a cash payout of $184.9 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 2, 2025 |
|---|
| Draw Date | Sat Aug 2, 2025 | | Projected Jackpot | $410,000,000 | | Cash Value | $184,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $184,900,000 | | Federal Tax(24%) | $44,376,000 | | Additional Federal Tax | $23,997,330 | | State Tax(8%) | $14,792,000 | | Net Lumpsum Payment | $101,734,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,170,910 |
$2,243,567
$493,673 |
$3,433,670 |
| 2 |
$6,479,640 |
$2,357,797
$518,371 |
$3,603,472 |
| 3 |
$6,803,540 |
$2,477,640
$544,283 |
$3,781,617 |
| 4 |
$7,143,840 |
$2,603,551
$571,507 |
$3,968,782 |
| 5 |
$7,500,950 |
$2,735,682
$600,076 |
$4,165,192 |
| 6 |
$7,876,100 |
$2,874,487
$630,088 |
$4,371,525 |
| 7 |
$8,269,700 |
$3,020,119
$661,576 |
$4,588,005 |
| 8 |
$8,683,390 |
$3,173,185
$694,671 |
$4,815,534 |
| 9 |
$9,117,580 |
$3,333,835
$729,406 |
$5,054,339 |
| 10 |
$9,573,500 |
$3,502,525
$765,880 |
$5,305,095 |
| 11 |
$10,051,970 |
$3,679,559
$804,158 |
$5,568,253 |
| 12 |
$10,554,630 |
$3,865,543
$844,370 |
$5,844,717 |
| 13 |
$11,082,300 |
$4,060,781
$886,584 |
$6,134,935 |
| 14 |
$11,636,620 |
$4,265,880
$930,930 |
$6,439,810 |
| 15 |
$12,218,410 |
$4,481,142
$977,473 |
$6,759,795 |
| 16 |
$12,829,310 |
$4,707,175
$1,026,345 |
$7,095,790 |
| 17 |
$13,470,550 |
$4,944,434
$1,077,644 |
$7,448,472 |
| 18 |
$14,144,180 |
$5,193,677
$1,131,534 |
$7,818,969 |
| 19 |
$14,851,430 |
$5,455,359
$1,188,114 |
$8,207,957 |
| 20 |
$15,593,940 |
$5,730,088
$1,247,515 |
$8,616,337 |
| 21 |
$16,373,760 |
$6,018,622
$1,309,901 |
$9,045,237 |
| 22 |
$17,192,530 |
$6,321,566
$1,375,402 |
$9,495,562 |
| 23 |
$18,051,890 |
$6,639,530
$1,444,151 |
$9,968,209 |
| 24 |
$18,954,710 |
$6,973,573
$1,516,377 |
$10,464,760 |
| 25 |
$19,902,220 |
$7,324,152
$1,592,178 |
$10,985,890 |
| 26 |
$20,897,700 |
$7,692,479
$1,671,816 |
$11,533,405 |
| 27 |
$21,942,380 |
$8,079,011
$1,755,390 |
$12,107,979 |
| 28 |
$23,039,540 |
$8,484,960
$1,843,163 |
$12,711,417 |
| 29 |
$24,191,640 |
$8,911,237
$1,935,331 |
$13,345,072 |
| 30 |
$25,401,140 |
$9,358,752
$2,032,091 |
$14,010,297 |
|
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