The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Sat Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(3.15%) | $3,918,600 | | Net Lumpsum Payment | $74,493,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$128,957 |
$2,489,852 |
| 2 |
$4,298,688 |
$1,550,845
$135,409 |
$2,612,434 |
| 3 |
$4,513,568 |
$1,630,351
$142,177 |
$2,741,040 |
| 4 |
$4,739,328 |
$1,713,882
$149,289 |
$2,876,157 |
| 5 |
$4,976,240 |
$1,801,539
$156,752 |
$3,017,949 |
| 6 |
$5,225,120 |
$1,893,625
$164,591 |
$3,166,904 |
| 7 |
$5,486,240 |
$1,990,239
$172,817 |
$3,323,184 |
| 8 |
$5,760,688 |
$2,091,785
$181,462 |
$3,487,441 |
| 9 |
$6,048,736 |
$2,198,363
$190,535 |
$3,659,838 |
| 10 |
$6,351,200 |
$2,310,274
$200,063 |
$3,840,863 |
| 11 |
$6,668,624 |
$2,427,721
$210,062 |
$4,030,841 |
| 12 |
$7,002,096 |
$2,551,106
$220,566 |
$4,230,424 |
| 13 |
$7,352,160 |
$2,680,630
$231,593 |
$4,439,937 |
| 14 |
$7,719,904 |
$2,816,695
$243,177 |
$4,660,032 |
| 15 |
$8,105,872 |
$2,959,503
$255,335 |
$4,891,034 |
| 16 |
$8,511,152 |
$3,109,457
$268,101 |
$5,133,594 |
| 17 |
$8,936,560 |
$3,266,858
$281,502 |
$5,388,200 |
| 18 |
$9,383,456 |
$3,432,209
$295,579 |
$5,655,668 |
| 19 |
$9,852,656 |
$3,605,813
$310,359 |
$5,936,484 |
| 20 |
$10,345,248 |
$3,788,072
$325,875 |
$6,231,301 |
| 21 |
$10,862,592 |
$3,979,489
$342,172 |
$6,540,931 |
| 22 |
$11,405,776 |
$4,180,468
$359,282 |
$6,866,026 |
| 23 |
$11,975,888 |
$4,391,409
$377,240 |
$7,207,239 |
| 24 |
$12,574,832 |
$4,613,018
$396,107 |
$7,565,707 |
| 25 |
$13,203,424 |
$4,845,597
$415,908 |
$7,941,919 |
| 26 |
$13,863,840 |
$5,089,951
$436,711 |
$8,337,178 |
| 27 |
$14,556,896 |
$5,346,382
$458,542 |
$8,751,972 |
| 28 |
$15,284,768 |
$5,615,695
$481,470 |
$9,187,603 |
| 29 |
$16,049,088 |
$5,898,493
$505,546 |
$9,645,049 |
| 30 |
$16,851,488 |
$6,195,381
$530,822 |
$10,125,285 |
|
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