The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(8%) | $20,144,000 | | Net Lumpsum Payment | $138,529,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$682,713 |
$4,733,324 |
| 2 |
$8,960,868 |
$3,275,852
$716,869 |
$4,968,147 |
| 3 |
$9,408,798 |
$3,441,586
$752,704 |
$5,214,508 |
| 4 |
$9,879,408 |
$3,615,711
$790,353 |
$5,473,344 |
| 5 |
$10,373,265 |
$3,798,438
$829,861 |
$5,744,966 |
| 6 |
$10,892,070 |
$3,990,396
$871,366 |
$6,030,308 |
| 7 |
$11,436,390 |
$4,191,795
$914,911 |
$6,329,684 |
| 8 |
$12,008,493 |
$4,403,473
$960,679 |
$6,644,341 |
| 9 |
$12,608,946 |
$4,625,640
$1,008,716 |
$6,974,590 |
| 10 |
$13,239,450 |
$4,858,927
$1,059,156 |
$7,321,367 |
| 11 |
$13,901,139 |
$5,103,752
$1,112,091 |
$7,685,296 |
| 12 |
$14,596,281 |
$5,360,954
$1,167,702 |
$8,067,625 |
| 13 |
$15,326,010 |
$5,630,954
$1,226,081 |
$8,468,975 |
| 14 |
$16,092,594 |
$5,914,590
$1,287,408 |
$8,890,596 |
| 15 |
$16,897,167 |
$6,212,282
$1,351,773 |
$9,333,112 |
| 16 |
$17,741,997 |
$6,524,869
$1,419,360 |
$9,797,768 |
| 17 |
$18,628,785 |
$6,852,981
$1,490,303 |
$10,285,501 |
| 18 |
$19,560,366 |
$7,197,666
$1,564,829 |
$10,797,871 |
| 19 |
$20,538,441 |
$7,559,554
$1,643,075 |
$11,335,812 |
| 20 |
$21,565,278 |
$7,939,483
$1,725,222 |
$11,900,573 |
| 21 |
$22,643,712 |
$8,338,504
$1,811,497 |
$12,493,711 |
| 22 |
$23,776,011 |
$8,757,454
$1,902,081 |
$13,116,476 |
| 23 |
$24,964,443 |
$9,197,174
$1,997,155 |
$13,770,114 |
| 24 |
$26,212,977 |
$9,659,132
$2,097,038 |
$14,456,807 |
| 25 |
$27,523,314 |
$10,143,957
$2,201,865 |
$15,177,492 |
| 26 |
$28,899,990 |
$10,653,327
$2,311,999 |
$15,934,664 |
| 27 |
$30,344,706 |
$11,187,872
$2,427,576 |
$16,729,258 |
| 28 |
$31,861,998 |
$11,749,270
$2,548,960 |
$17,563,768 |
| 29 |
$33,455,268 |
$12,338,780
$2,676,421 |
$18,440,067 |
| 30 |
$35,127,918 |
$12,957,660
$2,810,233 |
$19,360,025 |
|
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