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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $5,909,000 | | Net Lumpsum Payment | $72,502,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$194,459 |
$2,424,350 |
| 2 |
$4,298,688 |
$1,550,845
$204,188 |
$2,543,655 |
| 3 |
$4,513,568 |
$1,630,351
$214,394 |
$2,668,823 |
| 4 |
$4,739,328 |
$1,713,882
$225,118 |
$2,800,328 |
| 5 |
$4,976,240 |
$1,801,539
$236,371 |
$2,938,330 |
| 6 |
$5,225,120 |
$1,893,625
$248,193 |
$3,083,302 |
| 7 |
$5,486,240 |
$1,990,239
$260,596 |
$3,235,405 |
| 8 |
$5,760,688 |
$2,091,785
$273,633 |
$3,395,270 |
| 9 |
$6,048,736 |
$2,198,363
$287,315 |
$3,563,058 |
| 10 |
$6,351,200 |
$2,310,274
$301,682 |
$3,739,244 |
| 11 |
$6,668,624 |
$2,427,721
$316,760 |
$3,924,143 |
| 12 |
$7,002,096 |
$2,551,106
$332,600 |
$4,118,390 |
| 13 |
$7,352,160 |
$2,680,630
$349,228 |
$4,322,302 |
| 14 |
$7,719,904 |
$2,816,695
$366,695 |
$4,536,514 |
| 15 |
$8,105,872 |
$2,959,503
$385,029 |
$4,761,340 |
| 16 |
$8,511,152 |
$3,109,457
$404,280 |
$4,997,415 |
| 17 |
$8,936,560 |
$3,266,858
$424,487 |
$5,245,215 |
| 18 |
$9,383,456 |
$3,432,209
$445,714 |
$5,505,533 |
| 19 |
$9,852,656 |
$3,605,813
$468,001 |
$5,778,842 |
| 20 |
$10,345,248 |
$3,788,072
$491,399 |
$6,065,777 |
| 21 |
$10,862,592 |
$3,979,489
$515,973 |
$6,367,130 |
| 22 |
$11,405,776 |
$4,180,468
$541,774 |
$6,683,534 |
| 23 |
$11,975,888 |
$4,391,409
$568,855 |
$7,015,624 |
| 24 |
$12,574,832 |
$4,613,018
$597,305 |
$7,364,509 |
| 25 |
$13,203,424 |
$4,845,597
$627,163 |
$7,730,664 |
| 26 |
$13,863,840 |
$5,089,951
$658,532 |
$8,115,357 |
| 27 |
$14,556,896 |
$5,346,382
$691,453 |
$8,519,061 |
| 28 |
$15,284,768 |
$5,615,695
$726,026 |
$8,943,047 |
| 29 |
$16,049,088 |
$5,898,493
$762,332 |
$9,388,263 |
| 30 |
$16,851,488 |
$6,195,381
$800,446 |
$9,855,661 |
|
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