The jackpot for the Powerball draw on Wed Apr 15, 2026, is projected to be $58 Million, with an option for a cash payout of $26.4 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 Apr 15, 2026 |
|---|
| Draw Date | Wed Apr 15, 2026 | | Projected Jackpot | $58,000,000 | | Cash Value | $26,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,400,000 | | Federal Tax(24%) | $6,336,000 | | Additional Federal Tax | $3,392,330 | | State Tax(8%) | $2,112,000 | | Net Lumpsum Payment | $14,559,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$872,958 |
$283,325
$69,837 |
$519,796 |
| 2 |
$916,632 |
$299,484
$73,331 |
$543,817 |
| 3 |
$962,452 |
$316,438
$76,996 |
$569,018 |
| 4 |
$1,010,592 |
$334,249
$80,847 |
$595,496 |
| 5 |
$1,061,110 |
$352,941
$84,889 |
$623,280 |
| 6 |
$1,114,180 |
$372,577
$89,134 |
$652,469 |
| 7 |
$1,169,860 |
$393,179
$93,589 |
$683,092 |
| 8 |
$1,228,382 |
$414,832
$98,271 |
$715,279 |
| 9 |
$1,289,804 |
$437,558
$103,184 |
$749,062 |
| 10 |
$1,354,300 |
$461,421
$108,344 |
$784,535 |
| 11 |
$1,421,986 |
$486,465
$113,759 |
$821,762 |
| 12 |
$1,493,094 |
$512,775
$119,448 |
$860,871 |
| 13 |
$1,567,740 |
$540,394
$125,419 |
$901,927 |
| 14 |
$1,646,156 |
$569,408
$131,692 |
$945,056 |
| 15 |
$1,728,458 |
$599,860
$138,277 |
$990,321 |
| 16 |
$1,814,878 |
$631,835
$145,190 |
$1,037,853 |
| 17 |
$1,905,590 |
$665,399
$152,447 |
$1,087,744 |
| 18 |
$2,000,884 |
$700,657
$160,071 |
$1,140,156 |
| 19 |
$2,100,934 |
$737,676
$168,075 |
$1,195,183 |
| 20 |
$2,205,972 |
$776,540
$176,478 |
$1,252,954 |
| 21 |
$2,316,288 |
$817,357
$185,303 |
$1,313,628 |
| 22 |
$2,432,114 |
$860,213
$194,569 |
$1,377,332 |
| 23 |
$2,553,682 |
$905,193
$204,295 |
$1,444,194 |
| 24 |
$2,681,398 |
$952,448
$214,512 |
$1,514,438 |
| 25 |
$2,815,436 |
$1,002,042
$225,235 |
$1,588,159 |
| 26 |
$2,956,260 |
$1,054,147
$236,501 |
$1,665,612 |
| 27 |
$3,104,044 |
$1,108,827
$248,324 |
$1,746,893 |
| 28 |
$3,259,252 |
$1,166,254
$260,740 |
$1,832,258 |
| 29 |
$3,422,232 |
$1,226,556
$273,779 |
$1,921,897 |
| 30 |
$3,593,332 |
$1,289,863
$287,467 |
$2,016,002 |
|
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