The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Sat Apr 26, 2025 |
|---|
| Draw Date | Sat Apr 26, 2025 | | Projected Jackpot | $168,000,000 | | Cash Value | $77,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $77,100,000 | | Federal Tax(24%) | $18,504,000 | | Additional Federal Tax | $9,983,330 | | State Tax(4.25%) | $3,276,750 | | Net Lumpsum Payment | $45,335,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,528,568 |
$895,901
$107,464 |
$1,525,203 |
| 2 |
$2,655,072 |
$942,707
$112,841 |
$1,599,524 |
| 3 |
$2,787,792 |
$991,813
$118,481 |
$1,677,498 |
| 4 |
$2,927,232 |
$1,043,406
$124,407 |
$1,759,419 |
| 5 |
$3,073,560 |
$1,097,548
$130,626 |
$1,845,386 |
| 6 |
$3,227,280 |
$1,154,424
$137,159 |
$1,935,697 |
| 7 |
$3,388,560 |
$1,214,098
$144,014 |
$2,030,448 |
| 8 |
$3,558,072 |
$1,276,817
$151,218 |
$2,130,037 |
| 9 |
$3,735,984 |
$1,342,644
$158,779 |
$2,234,561 |
| 10 |
$3,922,800 |
$1,411,766
$166,719 |
$2,344,315 |
| 11 |
$4,118,856 |
$1,484,307
$175,051 |
$2,459,498 |
| 12 |
$4,324,824 |
$1,560,515
$183,805 |
$2,580,504 |
| 13 |
$4,541,040 |
$1,640,515
$192,994 |
$2,707,531 |
| 14 |
$4,768,176 |
$1,724,556
$202,647 |
$2,840,973 |
| 15 |
$5,006,568 |
$1,812,761
$212,779 |
$2,981,028 |
| 16 |
$5,256,888 |
$1,905,379
$223,418 |
$3,128,091 |
| 17 |
$5,519,640 |
$2,002,597
$234,585 |
$3,282,458 |
| 18 |
$5,795,664 |
$2,104,726
$246,316 |
$3,444,622 |
| 19 |
$6,085,464 |
$2,211,952
$258,632 |
$3,614,880 |
| 20 |
$6,389,712 |
$2,324,524
$271,563 |
$3,793,625 |
| 21 |
$6,709,248 |
$2,442,752
$285,143 |
$3,981,353 |
| 22 |
$7,044,744 |
$2,566,886
$299,402 |
$4,178,456 |
| 23 |
$7,396,872 |
$2,697,173
$314,367 |
$4,385,332 |
| 24 |
$7,766,808 |
$2,834,049
$330,089 |
$4,602,670 |
| 25 |
$8,155,056 |
$2,977,701
$346,590 |
$4,830,765 |
| 26 |
$8,562,960 |
$3,128,626
$363,926 |
$5,070,408 |
| 27 |
$8,991,024 |
$3,287,009
$382,119 |
$5,321,896 |
| 28 |
$9,440,592 |
$3,453,349
$401,225 |
$5,586,018 |
| 29 |
$9,912,672 |
$3,628,019
$421,289 |
$5,863,364 |
| 30 |
$10,408,272 |
$3,811,391
$442,352 |
$6,154,529 |
|
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