The jackpot for the Powerball draw on Sat Oct 31, 2026, is projected to be $760 Million, with an option for a cash payout of $326 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 Sat Oct 31, 2026 |
|---|
| Draw Date | Sat Oct 31, 2026 | | Projected Jackpot | $760,000,000 | | Cash Value | $326,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $326,000,000 | | Federal Tax(24%) | $78,240,000 | | Additional Federal Tax | $42,340,330 | | State Tax(8%) | $26,080,000 | | Net Lumpsum Payment | $179,339,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,438,760 |
$4,192,672
$915,101 |
$6,330,987 |
| 2 |
$12,011,040 |
$4,404,415
$960,883 |
$6,645,742 |
| 3 |
$12,611,440 |
$4,626,563
$1,008,915 |
$6,975,962 |
| 4 |
$13,242,240 |
$4,859,959
$1,059,379 |
$7,322,902 |
| 5 |
$13,904,200 |
$5,104,884
$1,112,336 |
$7,686,980 |
| 6 |
$14,599,600 |
$5,362,182
$1,167,968 |
$8,069,450 |
| 7 |
$15,329,200 |
$5,632,134
$1,226,336 |
$8,470,730 |
| 8 |
$16,096,040 |
$5,915,865
$1,287,683 |
$8,892,492 |
| 9 |
$16,900,880 |
$6,213,656
$1,352,070 |
$9,335,154 |
| 10 |
$17,746,000 |
$6,526,350
$1,419,680 |
$9,799,970 |
| 11 |
$18,632,920 |
$6,854,511
$1,490,634 |
$10,287,775 |
| 12 |
$19,564,680 |
$7,199,262
$1,565,174 |
$10,800,244 |
| 13 |
$20,542,800 |
$7,561,166
$1,643,424 |
$11,338,210 |
| 14 |
$21,570,320 |
$7,941,349
$1,725,626 |
$11,903,345 |
| 15 |
$22,648,760 |
$8,340,372
$1,811,901 |
$12,496,487 |
| 16 |
$23,781,160 |
$8,759,360
$1,902,493 |
$13,119,307 |
| 17 |
$24,969,800 |
$9,199,156
$1,997,584 |
$13,773,060 |
| 18 |
$26,218,480 |
$9,661,168
$2,097,478 |
$14,459,834 |
| 19 |
$27,529,480 |
$10,146,238
$2,202,358 |
$15,180,884 |
| 20 |
$28,905,840 |
$10,655,491
$2,312,467 |
$15,937,882 |
| 21 |
$30,351,360 |
$11,190,334
$2,428,109 |
$16,732,917 |
| 22 |
$31,869,080 |
$11,751,890
$2,549,526 |
$17,567,664 |
| 23 |
$33,462,040 |
$12,341,285
$2,676,963 |
$18,443,792 |
| 24 |
$35,135,560 |
$12,960,488
$2,810,845 |
$19,364,227 |
| 25 |
$36,891,920 |
$13,610,341
$2,951,354 |
$20,330,225 |
| 26 |
$38,737,200 |
$14,293,094
$3,098,976 |
$21,345,130 |
| 27 |
$40,673,680 |
$15,009,592
$3,253,894 |
$22,410,194 |
| 28 |
$42,707,440 |
$15,762,083
$3,416,595 |
$23,528,762 |
| 29 |
$44,843,040 |
$16,552,255
$3,587,443 |
$24,703,342 |
| 30 |
$47,085,040 |
$17,381,795
$3,766,803 |
$25,936,442 |
|
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