The jackpot for the Powerball draw on Wed Jun 17, 2026, is projected to be $283 Million, with an option for a cash payout of $126.8 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 Jun 17, 2026 |
|---|
| Draw Date | Wed Jun 17, 2026 | | Projected Jackpot | $283,000,000 | | Cash Value | $126,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,800,000 | | Federal Tax(24%) | $30,432,000 | | Additional Federal Tax | $16,444,330 | | State Tax(8%) | $10,144,000 | | Net Lumpsum Payment | $69,779,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,259,433 |
$1,536,321
$340,755 |
$2,382,357 |
| 2 |
$4,472,532 |
$1,615,167
$357,803 |
$2,499,562 |
| 3 |
$4,696,102 |
$1,697,888
$375,688 |
$2,622,526 |
| 4 |
$4,930,992 |
$1,784,797
$394,479 |
$2,751,716 |
| 5 |
$5,177,485 |
$1,876,000
$414,199 |
$2,887,286 |
| 6 |
$5,436,430 |
$1,971,809
$434,914 |
$3,029,707 |
| 7 |
$5,708,110 |
$2,072,331
$456,649 |
$3,179,130 |
| 8 |
$5,993,657 |
$2,177,983
$479,493 |
$3,336,181 |
| 9 |
$6,293,354 |
$2,288,871
$503,468 |
$3,501,015 |
| 10 |
$6,608,050 |
$2,405,309
$528,644 |
$3,674,097 |
| 11 |
$6,938,311 |
$2,527,505
$555,065 |
$3,855,741 |
| 12 |
$7,285,269 |
$2,655,880
$582,822 |
$4,046,567 |
| 13 |
$7,649,490 |
$2,790,642
$611,959 |
$4,246,889 |
| 14 |
$8,032,106 |
$2,932,210
$642,568 |
$4,457,328 |
| 15 |
$8,433,683 |
$3,080,793
$674,695 |
$4,678,195 |
| 16 |
$8,855,353 |
$3,236,811
$708,428 |
$4,910,114 |
| 17 |
$9,297,965 |
$3,400,577
$743,837 |
$5,153,551 |
| 18 |
$9,762,934 |
$3,572,616
$781,035 |
$5,409,283 |
| 19 |
$10,251,109 |
$3,753,241
$820,089 |
$5,677,779 |
| 20 |
$10,763,622 |
$3,942,871
$861,090 |
$5,959,661 |
| 21 |
$11,301,888 |
$4,142,029
$904,151 |
$6,255,708 |
| 22 |
$11,867,039 |
$4,351,135
$949,363 |
$6,566,541 |
| 23 |
$12,460,207 |
$4,570,607
$996,817 |
$6,892,783 |
| 24 |
$13,083,373 |
$4,801,178
$1,046,670 |
$7,235,525 |
| 25 |
$13,737,386 |
$5,043,163
$1,098,991 |
$7,595,232 |
| 26 |
$14,424,510 |
$5,297,399
$1,153,961 |
$7,973,150 |
| 27 |
$15,145,594 |
$5,564,200
$1,211,648 |
$8,369,746 |
| 28 |
$15,902,902 |
$5,844,404
$1,272,232 |
$8,786,266 |
| 29 |
$16,698,132 |
$6,138,639
$1,335,851 |
$9,223,642 |
| 30 |
$17,532,982 |
$6,447,534
$1,402,639 |
$9,682,809 |
|
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