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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
Oklahoma Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
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Draw Date | Sat Apr 5, 2025 | Projected Jackpot | $47,000,000 | Cash Value | $21,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $21,800,000 | Federal Tax(24%) | $5,232,000 | Additional Federal Tax | $2,794,330 | State Tax(4.75%) | $1,035,500 | Net Lumpsum Payment | $12,738,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$707,397 |
$222,067 $33,601 |
$451,729 |
2 |
$742,788 |
$235,162 $35,282 |
$472,344 |
3 |
$779,918 |
$248,900 $37,046 |
$493,972 |
4 |
$818,928 |
$263,334 $38,899 |
$516,695 |
5 |
$859,865 |
$278,480 $40,844 |
$540,541 |
6 |
$902,870 |
$294,392 $42,886 |
$565,592 |
7 |
$947,990 |
$311,087 $45,030 |
$591,873 |
8 |
$995,413 |
$328,633 $47,282 |
$619,498 |
9 |
$1,045,186 |
$347,049 $49,646 |
$648,491 |
10 |
$1,097,450 |
$366,387 $52,129 |
$678,934 |
11 |
$1,152,299 |
$386,681 $54,734 |
$710,884 |
12 |
$1,209,921 |
$408,001 $57,471 |
$744,449 |
13 |
$1,270,410 |
$430,382 $60,344 |
$779,684 |
14 |
$1,333,954 |
$453,893 $63,363 |
$816,698 |
15 |
$1,400,647 |
$478,570 $66,531 |
$855,546 |
16 |
$1,470,677 |
$504,481 $69,857 |
$896,339 |
17 |
$1,544,185 |
$531,679 $73,349 |
$939,157 |
18 |
$1,621,406 |
$560,251 $77,017 |
$984,138 |
19 |
$1,702,481 |
$590,248 $80,868 |
$1,031,365 |
20 |
$1,787,598 |
$621,742 $84,911 |
$1,080,945 |
21 |
$1,876,992 |
$654,817 $89,157 |
$1,133,018 |
22 |
$1,970,851 |
$689,545 $93,615 |
$1,187,691 |
23 |
$2,069,363 |
$725,995 $98,295 |
$1,245,073 |
24 |
$2,172,857 |
$764,287 $103,211 |
$1,305,359 |
25 |
$2,281,474 |
$804,476 $108,370 |
$1,368,628 |
26 |
$2,395,590 |
$846,699 $113,791 |
$1,435,100 |
27 |
$2,515,346 |
$891,008 $119,479 |
$1,504,859 |
28 |
$2,641,118 |
$937,544 $125,453 |
$1,578,121 |
29 |
$2,773,188 |
$986,410 $131,726 |
$1,655,052 |
30 |
$2,911,838 |
$1,037,710 $138,312 |
$1,735,816 |
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