The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(8%) | $6,376,000 | | Net Lumpsum Payment | $43,874,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$209,510 |
$1,480,050 |
| 2 |
$2,749,896 |
$977,792
$219,992 |
$1,552,112 |
| 3 |
$2,887,356 |
$1,028,652
$230,988 |
$1,627,716 |
| 4 |
$3,031,776 |
$1,082,088
$242,542 |
$1,707,146 |
| 5 |
$3,183,330 |
$1,138,162
$254,666 |
$1,790,502 |
| 6 |
$3,342,540 |
$1,197,070
$267,403 |
$1,878,067 |
| 7 |
$3,509,580 |
$1,258,875
$280,766 |
$1,969,939 |
| 8 |
$3,685,146 |
$1,323,834
$294,812 |
$2,066,500 |
| 9 |
$3,869,412 |
$1,392,013
$309,553 |
$2,167,846 |
| 10 |
$4,062,900 |
$1,463,603
$325,032 |
$2,274,265 |
| 11 |
$4,265,958 |
$1,538,735
$341,277 |
$2,385,946 |
| 12 |
$4,479,282 |
$1,617,665
$358,343 |
$2,503,274 |
| 13 |
$4,703,220 |
$1,700,522
$376,258 |
$2,626,440 |
| 14 |
$4,938,468 |
$1,787,564
$395,077 |
$2,755,827 |
| 15 |
$5,185,374 |
$1,878,919
$414,830 |
$2,891,625 |
| 16 |
$5,444,634 |
$1,974,845
$435,571 |
$3,034,218 |
| 17 |
$5,716,770 |
$2,075,535
$457,342 |
$3,183,893 |
| 18 |
$6,002,652 |
$2,181,312
$480,212 |
$3,341,128 |
| 19 |
$6,302,802 |
$2,292,367
$504,224 |
$3,506,211 |
| 20 |
$6,617,916 |
$2,408,959
$529,433 |
$3,679,524 |
| 21 |
$6,948,864 |
$2,531,410
$555,909 |
$3,861,545 |
| 22 |
$7,296,342 |
$2,659,977
$583,707 |
$4,052,658 |
| 23 |
$7,661,046 |
$2,794,917
$612,884 |
$4,253,245 |
| 24 |
$8,044,194 |
$2,936,682
$643,536 |
$4,463,976 |
| 25 |
$8,446,308 |
$3,085,464
$675,705 |
$4,685,139 |
| 26 |
$8,868,780 |
$3,241,779
$709,502 |
$4,917,499 |
| 27 |
$9,312,132 |
$3,405,819
$744,971 |
$5,161,342 |
| 28 |
$9,777,756 |
$3,578,100
$782,220 |
$5,417,436 |
| 29 |
$10,266,696 |
$3,759,008
$821,336 |
$5,686,352 |
| 30 |
$10,779,996 |
$3,948,929
$862,400 |
$5,968,667 |
|
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