Jackpot Analysis Ohio Powerball

Jackpot Analysis for Ohio Powerball
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 Ohio residents, the state will deduct 3.99% from your lottery earnings.

Ohio Powerball Jackpot/Cash Option for Sat Apr 5, 2025
Draw DateSat 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(3.99%)$869,820
Net Lumpsum Payment$12,903,850
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $707,397 $222,067
$28,225
$457,105
2 $742,788 $235,162
$29,637
$477,989
3 $779,918 $248,900
$31,119
$499,899
4 $818,928 $263,334
$32,675
$522,919
5 $859,865 $278,480
$34,309
$547,076
6 $902,870 $294,392
$36,025
$572,453
7 $947,990 $311,087
$37,825
$599,078
8 $995,413 $328,633
$39,717
$627,063
9 $1,045,186 $347,049
$41,703
$656,434
10 $1,097,450 $366,387
$43,788
$687,275
11 $1,152,299 $386,681
$45,977
$719,641
12 $1,209,921 $408,001
$48,276
$753,644
13 $1,270,410 $430,382
$50,689
$789,339
14 $1,333,954 $453,893
$53,225
$826,836
15 $1,400,647 $478,570
$55,886
$866,191
16 $1,470,677 $504,481
$58,680
$907,516
17 $1,544,185 $531,679
$61,613
$950,893
18 $1,621,406 $560,251
$64,694
$996,461
19 $1,702,481 $590,248
$67,929
$1,044,304
20 $1,787,598 $621,742
$71,325
$1,094,531
21 $1,876,992 $654,817
$74,892
$1,147,283
22 $1,970,851 $689,545
$78,637
$1,202,669
23 $2,069,363 $725,995
$82,568
$1,260,800
24 $2,172,857 $764,287
$86,697
$1,321,873
25 $2,281,474 $804,476
$91,031
$1,385,967
26 $2,395,590 $846,699
$95,584
$1,453,307
27 $2,515,346 $891,008
$100,362
$1,523,976
28 $2,641,118 $937,544
$105,381
$1,598,193
29 $2,773,188 $986,410
$110,650
$1,676,128
30 $2,911,838 $1,037,710
$116,182
$1,757,946