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 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(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 |
|
|
