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 New York residents, the state will deduct 8.82% from your lottery earnings.
New York Powerball Jackpot/Cash Option for Sat Apr 26, 2025 |
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Draw Date | Sat Apr 26, 2025 | Projected Jackpot | $168,000,000 | Cash Value | $77,100,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $77,100,000 | Federal Tax(24%) | $18,504,000 | Additional Federal Tax | $9,983,330 | State Tax(8.82%) | $6,800,220 | Net Lumpsum Payment | $41,812,450 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,528,568 |
$895,901 $223,020 |
$1,409,647 |
2 |
$2,655,072 |
$942,707 $234,177 |
$1,478,188 |
3 |
$2,787,792 |
$991,813 $245,883 |
$1,550,096 |
4 |
$2,927,232 |
$1,043,406 $258,182 |
$1,625,644 |
5 |
$3,073,560 |
$1,097,548 $271,088 |
$1,704,924 |
6 |
$3,227,280 |
$1,154,424 $284,646 |
$1,788,210 |
7 |
$3,388,560 |
$1,214,098 $298,871 |
$1,875,591 |
8 |
$3,558,072 |
$1,276,817 $313,822 |
$1,967,433 |
9 |
$3,735,984 |
$1,342,644 $329,514 |
$2,063,826 |
10 |
$3,922,800 |
$1,411,766 $345,991 |
$2,165,043 |
11 |
$4,118,856 |
$1,484,307 $363,283 |
$2,271,266 |
12 |
$4,324,824 |
$1,560,515 $381,449 |
$2,382,860 |
13 |
$4,541,040 |
$1,640,515 $400,520 |
$2,500,005 |
14 |
$4,768,176 |
$1,724,556 $420,553 |
$2,623,067 |
15 |
$5,006,568 |
$1,812,761 $441,579 |
$2,752,228 |
16 |
$5,256,888 |
$1,905,379 $463,658 |
$2,887,851 |
17 |
$5,519,640 |
$2,002,597 $486,832 |
$3,030,211 |
18 |
$5,795,664 |
$2,104,726 $511,178 |
$3,179,760 |
19 |
$6,085,464 |
$2,211,952 $536,738 |
$3,336,774 |
20 |
$6,389,712 |
$2,324,524 $563,573 |
$3,501,615 |
21 |
$6,709,248 |
$2,442,752 $591,756 |
$3,674,740 |
22 |
$7,044,744 |
$2,566,886 $621,346 |
$3,856,512 |
23 |
$7,396,872 |
$2,697,173 $652,404 |
$4,047,295 |
24 |
$7,766,808 |
$2,834,049 $685,032 |
$4,247,727 |
25 |
$8,155,056 |
$2,977,701 $719,276 |
$4,458,079 |
26 |
$8,562,960 |
$3,128,626 $755,253 |
$4,679,081 |
27 |
$8,991,024 |
$3,287,009 $793,008 |
$4,911,007 |
28 |
$9,440,592 |
$3,453,349 $832,660 |
$5,154,583 |
29 |
$9,912,672 |
$3,628,019 $874,298 |
$5,410,355 |
30 |
$10,408,272 |
$3,811,391 $918,010 |
$5,678,871 |
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