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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $10,972,080 | | Net Lumpsum Payment | $67,439,590 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$361,080 |
$2,257,729 |
| 2 |
$4,298,688 |
$1,550,845
$379,144 |
$2,368,699 |
| 3 |
$4,513,568 |
$1,630,351
$398,097 |
$2,485,120 |
| 4 |
$4,739,328 |
$1,713,882
$418,009 |
$2,607,437 |
| 5 |
$4,976,240 |
$1,801,539
$438,904 |
$2,735,797 |
| 6 |
$5,225,120 |
$1,893,625
$460,856 |
$2,870,639 |
| 7 |
$5,486,240 |
$1,990,239
$483,886 |
$3,012,115 |
| 8 |
$5,760,688 |
$2,091,785
$508,093 |
$3,160,810 |
| 9 |
$6,048,736 |
$2,198,363
$533,499 |
$3,316,874 |
| 10 |
$6,351,200 |
$2,310,274
$560,176 |
$3,480,750 |
| 11 |
$6,668,624 |
$2,427,721
$588,173 |
$3,652,730 |
| 12 |
$7,002,096 |
$2,551,106
$617,585 |
$3,833,405 |
| 13 |
$7,352,160 |
$2,680,630
$648,461 |
$4,023,069 |
| 14 |
$7,719,904 |
$2,816,695
$680,896 |
$4,222,313 |
| 15 |
$8,105,872 |
$2,959,503
$714,938 |
$4,431,431 |
| 16 |
$8,511,152 |
$3,109,457
$750,684 |
$4,651,011 |
| 17 |
$8,936,560 |
$3,266,858
$788,205 |
$4,881,497 |
| 18 |
$9,383,456 |
$3,432,209
$827,621 |
$5,123,626 |
| 19 |
$9,852,656 |
$3,605,813
$869,004 |
$5,377,839 |
| 20 |
$10,345,248 |
$3,788,072
$912,451 |
$5,644,725 |
| 21 |
$10,862,592 |
$3,979,489
$958,081 |
$5,925,022 |
| 22 |
$11,405,776 |
$4,180,468
$1,005,989 |
$6,219,319 |
| 23 |
$11,975,888 |
$4,391,409
$1,056,273 |
$6,528,206 |
| 24 |
$12,574,832 |
$4,613,018
$1,109,100 |
$6,852,714 |
| 25 |
$13,203,424 |
$4,845,597
$1,164,542 |
$7,193,285 |
| 26 |
$13,863,840 |
$5,089,951
$1,222,791 |
$7,551,098 |
| 27 |
$14,556,896 |
$5,346,382
$1,283,918 |
$7,926,596 |
| 28 |
$15,284,768 |
$5,615,695
$1,348,117 |
$8,320,956 |
| 29 |
$16,049,088 |
$5,898,493
$1,415,530 |
$8,735,065 |
| 30 |
$16,851,488 |
$6,195,381
$1,486,301 |
$9,169,806 |
|
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