Jackpot Analysis California Powerball

Jackpot Analysis for California Powerball
The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 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 those living in California, the bright side is you won't have to pay any state taxes on your lottery prize.

California Powerball Jackpot/Cash Option for Sat Apr 5, 2025
Draw DateSat Apr 5, 2025
Projected Jackpot$47,000,000
Cash Value$21,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$21,800,000
Federal Tax(24%)$5,232,000
Additional Federal Tax$0
State Tax(0%)$0
Net Lumpsum Payment$0
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment