The jackpot for the Powerball draw on Wed Oct 29, 2025, is projected to be $376 Million, with an option for a cash payout of $179.3 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 Oct 29, 2025 |
|---|
| Draw Date | Wed Oct 29, 2025 | | Projected Jackpot | $376,000,000 | | Cash Value | $179,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $179,300,000 | | Federal Tax(24%) | $43,032,000 | | Additional Federal Tax | $23,269,330 | | State Tax(8%) | $14,344,000 | | Net Lumpsum Payment | $98,654,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$452,734 |
$3,152,216 |
| 2 |
$5,942,304 |
$2,158,983
$475,384 |
$3,307,937 |
| 3 |
$6,239,344 |
$2,268,888
$499,148 |
$3,471,308 |
| 4 |
$6,551,424 |
$2,384,357
$524,114 |
$3,642,953 |
| 5 |
$6,878,920 |
$2,505,531
$550,314 |
$3,823,075 |
| 6 |
$7,222,960 |
$2,632,826
$577,837 |
$4,012,297 |
| 7 |
$7,583,920 |
$2,766,381
$606,714 |
$4,210,825 |
| 8 |
$7,963,304 |
$2,906,753
$637,064 |
$4,419,487 |
| 9 |
$8,361,488 |
$3,054,081
$668,919 |
$4,638,488 |
| 10 |
$8,779,600 |
$3,208,782
$702,368 |
$4,868,450 |
| 11 |
$9,218,392 |
$3,371,135
$737,471 |
$5,109,786 |
| 12 |
$9,679,368 |
$3,541,697
$774,349 |
$5,363,322 |
| 13 |
$10,163,280 |
$3,720,744
$813,062 |
$5,629,474 |
| 14 |
$10,671,632 |
$3,908,834
$853,731 |
$5,909,067 |
| 15 |
$11,205,176 |
$4,106,246
$896,414 |
$6,202,516 |
| 16 |
$11,765,416 |
$4,313,534
$941,233 |
$6,510,649 |
| 17 |
$12,353,480 |
$4,531,118
$988,278 |
$6,834,084 |
| 18 |
$12,971,248 |
$4,759,692
$1,037,700 |
$7,173,856 |
| 19 |
$13,619,848 |
$4,999,674
$1,089,588 |
$7,530,586 |
| 20 |
$14,300,784 |
$5,251,620
$1,144,063 |
$7,905,101 |
| 21 |
$15,015,936 |
$5,516,227
$1,201,275 |
$8,298,434 |
| 22 |
$15,766,808 |
$5,794,049
$1,261,345 |
$8,711,414 |
| 23 |
$16,554,904 |
$6,085,645
$1,324,392 |
$9,144,867 |
| 24 |
$17,382,856 |
$6,391,987
$1,390,628 |
$9,600,241 |
| 25 |
$18,251,792 |
$6,713,493
$1,460,143 |
$10,078,156 |
| 26 |
$19,164,720 |
$7,051,277
$1,533,178 |
$10,580,265 |
| 27 |
$20,122,768 |
$7,405,755
$1,609,821 |
$11,107,192 |
| 28 |
$21,128,944 |
$7,778,040
$1,690,316 |
$11,660,588 |
| 29 |
$22,185,504 |
$8,168,967
$1,774,840 |
$12,241,697 |
| 30 |
$23,294,704 |
$8,579,371
$1,863,576 |
$12,851,757 |
|
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