The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 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 Jul 5, 2025 |
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Draw Date | Sat Jul 5, 2025 | Projected Jackpot | $190,000,000 | Cash Value | $87,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $87,000,000 | Federal Tax(24%) | $20,880,000 | Additional Federal Tax | $11,270,330 | State Tax(8%) | $6,960,000 | Net Lumpsum Payment | $47,889,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,859,690 |
$1,018,416 $228,775 |
$1,612,499 |
2 |
$3,002,760 |
$1,071,352 $240,221 |
$1,691,187 |
3 |
$3,152,860 |
$1,126,889 $252,229 |
$1,773,742 |
4 |
$3,310,560 |
$1,185,238 $264,845 |
$1,860,477 |
5 |
$3,476,050 |
$1,246,469 $278,084 |
$1,951,497 |
6 |
$3,649,900 |
$1,310,793 $291,992 |
$2,047,115 |
7 |
$3,832,300 |
$1,378,281 $306,584 |
$2,147,435 |
8 |
$4,024,010 |
$1,449,214 $321,921 |
$2,252,875 |
9 |
$4,225,220 |
$1,523,662 $338,018 |
$2,363,540 |
10 |
$4,436,500 |
$1,601,835 $354,920 |
$2,479,745 |
11 |
$4,658,230 |
$1,683,875 $372,658 |
$2,601,697 |
12 |
$4,891,170 |
$1,770,063 $391,294 |
$2,729,813 |
13 |
$5,135,700 |
$1,860,539 $410,856 |
$2,864,305 |
14 |
$5,392,580 |
$1,955,585 $431,406 |
$3,005,589 |
15 |
$5,662,190 |
$2,055,341 $452,975 |
$3,153,874 |
16 |
$5,945,290 |
$2,160,088 $475,623 |
$3,309,579 |
17 |
$6,242,450 |
$2,270,037 $499,396 |
$3,473,017 |
18 |
$6,554,620 |
$2,385,540 $524,370 |
$3,644,710 |
19 |
$6,882,370 |
$2,506,807 $550,590 |
$3,824,973 |
20 |
$7,226,460 |
$2,634,121 $578,117 |
$4,014,222 |
21 |
$7,587,840 |
$2,767,831 $607,027 |
$4,212,982 |
22 |
$7,967,270 |
$2,908,220 $637,382 |
$4,421,668 |
23 |
$8,365,510 |
$3,055,569 $669,241 |
$4,640,700 |
24 |
$8,783,890 |
$3,210,370 $702,711 |
$4,870,809 |
25 |
$9,222,980 |
$3,372,833 $737,838 |
$5,112,309 |
26 |
$9,684,300 |
$3,543,521 $774,744 |
$5,366,035 |
27 |
$10,168,420 |
$3,722,646 $813,474 |
$5,632,300 |
28 |
$10,676,860 |
$3,910,769 $854,149 |
$5,911,942 |
29 |
$11,210,760 |
$4,108,312 $896,861 |
$6,205,587 |
30 |
$11,771,260 |
$4,315,697 $941,701 |
$6,513,862 |
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