The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia Powerball Jackpot/Cash Option for Wed Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(5.75%) | $6,882,750 | | Net Lumpsum Payment | $68,567,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$228,474 |
$2,314,478 |
| 2 |
$4,172,256 |
$1,504,065
$239,905 |
$2,428,286 |
| 3 |
$4,380,816 |
$1,581,232
$251,897 |
$2,547,687 |
| 4 |
$4,599,936 |
$1,662,307
$264,496 |
$2,673,133 |
| 5 |
$4,829,880 |
$1,747,386
$277,718 |
$2,804,776 |
| 6 |
$5,071,440 |
$1,836,763
$291,608 |
$2,943,069 |
| 7 |
$5,324,880 |
$1,930,536
$306,181 |
$3,088,163 |
| 8 |
$5,591,256 |
$2,029,095
$321,497 |
$3,240,664 |
| 9 |
$5,870,832 |
$2,132,538
$337,573 |
$3,400,721 |
| 10 |
$6,164,400 |
$2,241,158
$354,453 |
$3,568,789 |
| 11 |
$6,472,488 |
$2,355,151
$372,168 |
$3,745,169 |
| 12 |
$6,796,152 |
$2,474,907
$390,779 |
$3,930,466 |
| 13 |
$7,135,920 |
$2,600,621
$410,315 |
$4,124,984 |
| 14 |
$7,492,848 |
$2,732,684
$430,839 |
$4,329,325 |
| 15 |
$7,867,464 |
$2,871,292
$452,379 |
$4,543,793 |
| 16 |
$8,260,824 |
$3,016,835
$474,997 |
$4,768,992 |
| 17 |
$8,673,720 |
$3,169,607
$498,739 |
$5,005,374 |
| 18 |
$9,107,472 |
$3,330,095
$523,680 |
$5,253,697 |
| 19 |
$9,562,872 |
$3,498,593
$549,865 |
$5,514,414 |
| 20 |
$10,040,976 |
$3,675,492
$577,356 |
$5,788,128 |
| 21 |
$10,543,104 |
$3,861,279
$606,228 |
$6,075,597 |
| 22 |
$11,070,312 |
$4,056,346
$636,543 |
$6,377,423 |
| 23 |
$11,623,656 |
$4,261,083
$668,360 |
$6,694,213 |
| 24 |
$12,204,984 |
$4,476,174
$701,787 |
$7,027,023 |
| 25 |
$12,815,088 |
$4,701,913
$736,868 |
$7,376,307 |
| 26 |
$13,456,080 |
$4,939,080
$773,725 |
$7,743,275 |
| 27 |
$14,128,752 |
$5,187,969
$812,403 |
$8,128,380 |
| 28 |
$14,835,216 |
$5,449,360
$853,025 |
$8,532,831 |
| 29 |
$15,577,056 |
$5,723,841
$895,681 |
$8,957,534 |
| 30 |
$16,355,856 |
$6,011,997
$940,462 |
$9,403,397 |
|
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