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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
|---|
| Draw Date | Sat 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 | $2,794,330 | | State Tax(8.82%) | $1,922,760 | | Net Lumpsum Payment | $11,850,910 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$707,397 |
$222,067
$62,392 |
$422,938 |
| 2 |
$742,788 |
$235,162
$65,514 |
$442,112 |
| 3 |
$779,918 |
$248,900
$68,789 |
$462,229 |
| 4 |
$818,928 |
$263,334
$72,229 |
$483,365 |
| 5 |
$859,865 |
$278,480
$75,840 |
$505,545 |
| 6 |
$902,870 |
$294,392
$79,633 |
$528,845 |
| 7 |
$947,990 |
$311,087
$83,613 |
$553,290 |
| 8 |
$995,413 |
$328,633
$87,795 |
$578,985 |
| 9 |
$1,045,186 |
$347,049
$92,185 |
$605,952 |
| 10 |
$1,097,450 |
$366,387
$96,795 |
$634,268 |
| 11 |
$1,152,299 |
$386,681
$101,633 |
$663,985 |
| 12 |
$1,209,921 |
$408,001
$106,715 |
$695,205 |
| 13 |
$1,270,410 |
$430,382
$112,050 |
$727,978 |
| 14 |
$1,333,954 |
$453,893
$117,655 |
$762,406 |
| 15 |
$1,400,647 |
$478,570
$123,537 |
$798,540 |
| 16 |
$1,470,677 |
$504,481
$129,714 |
$836,482 |
| 17 |
$1,544,185 |
$531,679
$136,197 |
$876,309 |
| 18 |
$1,621,406 |
$560,251
$143,008 |
$918,147 |
| 19 |
$1,702,481 |
$590,248
$150,159 |
$962,074 |
| 20 |
$1,787,598 |
$621,742
$157,666 |
$1,008,190 |
| 21 |
$1,876,992 |
$654,817
$165,551 |
$1,056,624 |
| 22 |
$1,970,851 |
$689,545
$173,829 |
$1,107,477 |
| 23 |
$2,069,363 |
$725,995
$182,518 |
$1,160,850 |
| 24 |
$2,172,857 |
$764,287
$191,646 |
$1,216,924 |
| 25 |
$2,281,474 |
$804,476
$201,226 |
$1,275,772 |
| 26 |
$2,395,590 |
$846,699
$211,291 |
$1,337,600 |
| 27 |
$2,515,346 |
$891,008
$221,854 |
$1,402,484 |
| 28 |
$2,641,118 |
$937,544
$232,947 |
$1,470,627 |
| 29 |
$2,773,188 |
$986,410
$244,595 |
$1,542,183 |
| 30 |
$2,911,838 |
$1,037,710
$256,824 |
$1,617,304 |
|
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