Powerball · New Jersey · 10.75% state tax
Powerball after taxes in New Jersey: payout calculator
The current Powerball jackpot is $467 million, with a cash value of $192.4 million. A New Jersey winner would keep about $100.5 million as a lump sum after the 37% federal rate and New Jersey’s 10.75% — or $244 million spread over 30 annuity payments.
Jackpot estimate as of October 4, 2026. These figures refresh automatically when a new jackpot is announced.
Calculate any Powerball jackpot in New Jersey
Change the jackpot and the cash value follows at today’s ratio of 41%; you can also type the cash value yourself.
| Your win | Lump sum | Annuity (30 payments) |
|---|---|---|
| Before taxes | $192,400,000 | $467,000,000 |
| Federal tax (37%) | −$71,188,000 | −$172,790,000 |
| New Jersey tax (10.75%) | −$20,683,000 | −$50,202,500 |
| You keep | $100,529,000 | $244,007,500 |
Lump sum: what a New Jersey winner keeps
Take the cash option and you get the jackpot’s cash value — currently 41% of the advertised amount — in one payment. Federal tax takes 37%: the lottery withholds 24% when you claim, and the rest is due when you file. New Jersey then takes its 10.75%.
| Lump sum | Amount |
|---|---|
| Cash value | $192,400,000 |
| Federal income tax (37%) | −$71,188,000 |
| New Jersey state tax (10.75%) | −$20,683,000 |
| You keep | $100,529,000 |
Annuity: 30 payments over 29 years
The annuity pays the full advertised jackpot: one payment when you claim and 29 more once a year, each 5% bigger than the last. Each payment is taxed in the year you receive it, so a New Jersey winner keeps about 52.25% of every check.
| Annuity | Before taxes | After taxes |
|---|---|---|
| Payment 1 (at claim) | $7,029,020 | $3,672,663 |
| Payment 10 | $10,904,317 | $5,697,506 |
| Payment 20 | $17,761,984 | $9,280,637 |
| Payment 30 (final) | $28,932,400 | $15,117,179 |
| All 30 payments | $467,000,000 | $244,007,500 |
See all 30 payments
| # | When | Before taxes | After taxes |
|---|---|---|---|
| 1 | At claim | $7,029,020 | $3,672,663 |
| 2 | Year 2 | $7,380,471 | $3,856,296 |
| 3 | Year 3 | $7,749,495 | $4,049,111 |
| 4 | Year 4 | $8,136,969 | $4,251,567 |
| 5 | Year 5 | $8,543,818 | $4,464,145 |
| 6 | Year 6 | $8,971,009 | $4,687,352 |
| 7 | Year 7 | $9,419,559 | $4,921,720 |
| 8 | Year 8 | $9,890,537 | $5,167,806 |
| 9 | Year 9 | $10,385,064 | $5,426,196 |
| 10 | Year 10 | $10,904,317 | $5,697,506 |
| 11 | Year 11 | $11,449,533 | $5,982,381 |
| 12 | Year 12 | $12,022,010 | $6,281,500 |
| 13 | Year 13 | $12,623,110 | $6,595,575 |
| 14 | Year 14 | $13,254,266 | $6,925,354 |
| 15 | Year 15 | $13,916,979 | $7,271,622 |
| 16 | Year 16 | $14,612,828 | $7,635,203 |
| 17 | Year 17 | $15,343,470 | $8,016,963 |
| 18 | Year 18 | $16,110,643 | $8,417,811 |
| 19 | Year 19 | $16,916,175 | $8,838,702 |
| 20 | Year 20 | $17,761,984 | $9,280,637 |
| 21 | Year 21 | $18,650,083 | $9,744,668 |
| 22 | Year 22 | $19,582,587 | $10,231,902 |
| 23 | Year 23 | $20,561,717 | $10,743,497 |
| 24 | Year 24 | $21,589,802 | $11,280,672 |
| 25 | Year 25 | $22,669,293 | $11,844,705 |
| 26 | Year 26 | $23,802,757 | $12,436,941 |
| 27 | Year 27 | $24,992,895 | $13,058,788 |
| 28 | Year 28 | $26,242,540 | $13,711,727 |
| 29 | Year 29 | $27,554,667 | $14,397,313 |
| 30 | Year 30 | $28,932,400 | $15,117,179 |
How New Jersey taxes lottery winnings
New Jersey taxes lottery winnings as ordinary income at up to 10.75%. On a jackpot-size prize nearly every dollar falls in the top bracket, so plan on the full 10.75% — about $10.75 million of every $100 million in cash value.
New Jersey’s 10.75% is tied for the 2nd-highest state tax on lottery winnings among the 37 states and D.C. that tax them.
New Jersey’s 10.75% top rate kicks in at $1 million of income, so nearly all of a jackpot is taxed at the top rate.
On the current jackpot, New Jersey takes $20.7 million of the lump sum — money a winner in Texas or Florida, which don’t tax lottery prizes, would keep.
New Jersey vs. neighboring states
What the current Powerball jackpot’s lump sum is worth after taxes in New Jersey and next door. Buying a ticket across the state line doesn’t get you out of New Jersey’s tax: you generally owe it as a resident, with a credit for tax paid to the state that sold the ticket.
| State | Tax on the win | Lump sum after taxes |
|---|---|---|
| New Jersey | 10.75% | $100.5 million |
| Delaware | 6.6% | $108.5 million |
| New York | 10.9% | $100.2 million |
| Pennsylvania | 3.07% | $115.3 million |
Powerball taxes in New Jersey: common questions
How much would a New Jersey winner keep from a Powerball jackpot?
About 52.25% of the cash value. Federal tax takes 37% and New Jersey takes 10.75%, so a New Jersey winner keeps about $52.25 million of every $100 million in cash. With the annuity, the same 52.25% applies to the full advertised jackpot, paid over 30 years.
Does New Jersey tax lottery winnings?
Yes. New Jersey taxes lottery winnings as income at up to 10.75%.
Should a New Jersey winner take the lump sum or the annuity?
It depends on what you’d do with the money. The lump sum pays the cash value now — recently around 40–45% of the advertised jackpot — and you keep about 52.25% of it after taxes in New Jersey. The annuity pays the whole advertised jackpot over 29 years in 30 payments, each 5% larger than the last, taxed as you receive them. Take the cash if you’d invest it at least as well as long-term Treasury bonds pay; take the annuity if you want protection from spending it too fast.
How much tax is withheld when you claim a Powerball prize in New Jersey?
The lottery withholds 24% for federal tax on any prize over $5,000. A jackpot puts you in the 37% bracket, so you’ll owe roughly another 13% when you file. New Jersey may also withhold state tax when you claim; any balance of its 10.75% is due with your state return.
When is the Powerball drawing, and how much is a ticket?
Powerball draws every Monday, Wednesday and Saturday at 10:59 p.m. Eastern. A ticket costs $2, and the odds of hitting the jackpot are 1 in 292,201,338.
Play it out
Numbers are the start, not the story. Play Powerball with the official odds and see how long a jackpot really takes — then take your after-tax New Jersey figure into the planner and give every dollar a job: Treasuries, index funds, real estate, the house, the cars, family and giving, with a 30-year projection that shows whether the money lasts.