The jackpot for the Powerball draw on Wed May 14, 2025, is projected to be $106 Million, with an option for a cash payout of $48.2 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 those living in Delaware, the bright side is you won't have to pay any state taxes on your lottery prize.
| Delaware Powerball Jackpot/Cash Option for Wed May 14, 2025 |
|---|
| Draw Date | Wed May 14, 2025 | | Projected Jackpot | $106,000,000 | | Cash Value | $48,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $48,200,000 | | Federal Tax(24%) | $11,568,000 | | Additional Federal Tax | $6,226,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $30,405,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,595,406 |
$550,631
$0 |
$1,044,775 |
| 2 |
$1,675,224 |
$580,163
$0 |
$1,095,061 |
| 3 |
$1,758,964 |
$611,147
$0 |
$1,147,817 |
| 4 |
$1,846,944 |
$643,700
$0 |
$1,203,244 |
| 5 |
$1,939,270 |
$677,860
$0 |
$1,261,410 |
| 6 |
$2,036,260 |
$713,747
$0 |
$1,322,513 |
| 7 |
$2,138,020 |
$751,398
$0 |
$1,386,622 |
| 8 |
$2,244,974 |
$790,971
$0 |
$1,454,003 |
| 9 |
$2,357,228 |
$832,505
$0 |
$1,524,723 |
| 10 |
$2,475,100 |
$876,117
$0 |
$1,598,983 |
| 11 |
$2,598,802 |
$921,887
$0 |
$1,676,915 |
| 12 |
$2,728,758 |
$969,971
$0 |
$1,758,787 |
| 13 |
$2,865,180 |
$1,020,447
$0 |
$1,844,733 |
| 14 |
$3,008,492 |
$1,073,472
$0 |
$1,935,020 |
| 15 |
$3,158,906 |
$1,129,126
$0 |
$2,029,780 |
| 16 |
$3,316,846 |
$1,187,563
$0 |
$2,129,283 |
| 17 |
$3,482,630 |
$1,248,903
$0 |
$2,233,727 |
| 18 |
$3,656,788 |
$1,313,342
$0 |
$2,343,446 |
| 19 |
$3,839,638 |
$1,380,996
$0 |
$2,458,642 |
| 20 |
$4,031,604 |
$1,452,024
$0 |
$2,579,580 |
| 21 |
$4,233,216 |
$1,526,620
$0 |
$2,706,596 |
| 22 |
$4,444,898 |
$1,604,943
$0 |
$2,839,955 |
| 23 |
$4,667,074 |
$1,687,148
$0 |
$2,979,926 |
| 24 |
$4,900,486 |
$1,773,510
$0 |
$3,126,976 |
| 25 |
$5,145,452 |
$1,864,148
$0 |
$3,281,304 |
| 26 |
$5,402,820 |
$1,959,374
$0 |
$3,443,446 |
| 27 |
$5,672,908 |
$2,059,306
$0 |
$3,613,602 |
| 28 |
$5,956,564 |
$2,164,259
$0 |
$3,792,305 |
| 29 |
$6,254,424 |
$2,274,467
$0 |
$3,979,957 |
| 30 |
$6,567,124 |
$2,390,166
$0 |
$4,176,958 |
|
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