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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
Kentucky Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
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Draw Date | Sat Apr 5, 2025 | Projected Jackpot | $47,000,000 | Cash Value | $21,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $21,800,000 | Federal Tax(24%) | $5,232,000 | Additional Federal Tax | $2,794,330 | State Tax(4.5%) | $981,000 | Net Lumpsum Payment | $12,792,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$707,397 |
$222,067 $31,833 |
$453,497 |
2 |
$742,788 |
$235,162 $33,425 |
$474,201 |
3 |
$779,918 |
$248,900 $35,096 |
$495,922 |
4 |
$818,928 |
$263,334 $36,852 |
$518,742 |
5 |
$859,865 |
$278,480 $38,694 |
$542,691 |
6 |
$902,870 |
$294,392 $40,629 |
$567,849 |
7 |
$947,990 |
$311,087 $42,660 |
$594,243 |
8 |
$995,413 |
$328,633 $44,794 |
$621,986 |
9 |
$1,045,186 |
$347,049 $47,033 |
$651,104 |
10 |
$1,097,450 |
$366,387 $49,385 |
$681,678 |
11 |
$1,152,299 |
$386,681 $51,853 |
$713,765 |
12 |
$1,209,921 |
$408,001 $54,446 |
$747,474 |
13 |
$1,270,410 |
$430,382 $57,168 |
$782,860 |
14 |
$1,333,954 |
$453,893 $60,028 |
$820,033 |
15 |
$1,400,647 |
$478,570 $63,029 |
$859,048 |
16 |
$1,470,677 |
$504,481 $66,180 |
$900,016 |
17 |
$1,544,185 |
$531,679 $69,488 |
$943,018 |
18 |
$1,621,406 |
$560,251 $72,963 |
$988,192 |
19 |
$1,702,481 |
$590,248 $76,612 |
$1,035,621 |
20 |
$1,787,598 |
$621,742 $80,442 |
$1,085,414 |
21 |
$1,876,992 |
$654,817 $84,465 |
$1,137,710 |
22 |
$1,970,851 |
$689,545 $88,688 |
$1,192,618 |
23 |
$2,069,363 |
$725,995 $93,121 |
$1,250,247 |
24 |
$2,172,857 |
$764,287 $97,779 |
$1,310,791 |
25 |
$2,281,474 |
$804,476 $102,666 |
$1,374,332 |
26 |
$2,395,590 |
$846,699 $107,802 |
$1,441,089 |
27 |
$2,515,346 |
$891,008 $113,191 |
$1,511,147 |
28 |
$2,641,118 |
$937,544 $118,850 |
$1,584,724 |
29 |
$2,773,188 |
$986,410 $124,793 |
$1,661,985 |
30 |
$2,911,838 |
$1,037,710 $131,033 |
$1,743,095 |
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