The jackpot for the Powerball draw on Wed Apr 1, 2026, is projected to be $194 Million, with an option for a cash payout of $87.1 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 1, 2026 |
|---|
| Draw Date | Wed Apr 1, 2026 | | Projected Jackpot | $194,000,000 | | Cash Value | $87,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,100,000 | | Federal Tax(24%) | $20,904,000 | | Additional Federal Tax | $11,283,330 | | State Tax(8%) | $6,968,000 | | Net Lumpsum Payment | $47,944,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,919,894 |
$1,040,691
$233,592 |
$1,645,611 |
| 2 |
$3,065,976 |
$1,094,742
$245,278 |
$1,725,956 |
| 3 |
$3,219,236 |
$1,151,448
$257,539 |
$1,810,249 |
| 4 |
$3,380,256 |
$1,211,025
$270,420 |
$1,898,811 |
| 5 |
$3,549,230 |
$1,273,545
$283,938 |
$1,991,747 |
| 6 |
$3,726,740 |
$1,339,224
$298,139 |
$2,089,377 |
| 7 |
$3,912,980 |
$1,408,133
$313,038 |
$2,191,809 |
| 8 |
$4,108,726 |
$1,480,559
$328,698 |
$2,299,469 |
| 9 |
$4,314,172 |
$1,556,574
$345,134 |
$2,412,464 |
| 10 |
$4,529,900 |
$1,636,393
$362,392 |
$2,531,115 |
| 11 |
$4,756,298 |
$1,720,161
$380,504 |
$2,655,633 |
| 12 |
$4,994,142 |
$1,808,163
$399,531 |
$2,786,448 |
| 13 |
$5,243,820 |
$1,900,544
$419,506 |
$2,923,770 |
| 14 |
$5,506,108 |
$1,997,590
$440,489 |
$3,068,029 |
| 15 |
$5,781,394 |
$2,099,446
$462,512 |
$3,219,436 |
| 16 |
$6,070,454 |
$2,206,398
$485,636 |
$3,378,420 |
| 17 |
$6,373,870 |
$2,318,662
$509,910 |
$3,545,298 |
| 18 |
$6,692,612 |
$2,436,597
$535,409 |
$3,720,606 |
| 19 |
$7,027,262 |
$2,560,417
$562,181 |
$3,904,664 |
| 20 |
$7,378,596 |
$2,690,411
$590,288 |
$4,097,897 |
| 21 |
$7,747,584 |
$2,826,936
$619,807 |
$4,300,841 |
| 22 |
$8,135,002 |
$2,970,281
$650,800 |
$4,513,921 |
| 23 |
$8,541,626 |
$3,120,732
$683,330 |
$4,737,564 |
| 24 |
$8,968,814 |
$3,278,792
$717,505 |
$4,972,517 |
| 25 |
$9,417,148 |
$3,444,675
$753,372 |
$5,219,101 |
| 26 |
$9,888,180 |
$3,618,957
$791,054 |
$5,478,169 |
| 27 |
$10,382,492 |
$3,801,852
$830,599 |
$5,750,041 |
| 28 |
$10,901,636 |
$3,993,936
$872,131 |
$6,035,569 |
| 29 |
$11,446,776 |
$4,195,638
$915,742 |
$6,335,396 |
| 30 |
$12,019,076 |
$4,407,389
$961,526 |
$6,650,161 |
|
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