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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $2,169,000 | | Net Lumpsum Payment | $28,236,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,595,406 |
$550,631
$71,793 |
$972,982 |
| 2 |
$1,675,224 |
$580,163
$75,385 |
$1,019,676 |
| 3 |
$1,758,964 |
$611,147
$79,153 |
$1,068,664 |
| 4 |
$1,846,944 |
$643,700
$83,112 |
$1,120,132 |
| 5 |
$1,939,270 |
$677,860
$87,267 |
$1,174,143 |
| 6 |
$2,036,260 |
$713,747
$91,632 |
$1,230,881 |
| 7 |
$2,138,020 |
$751,398
$96,211 |
$1,290,411 |
| 8 |
$2,244,974 |
$790,971
$101,024 |
$1,352,979 |
| 9 |
$2,357,228 |
$832,505
$106,075 |
$1,418,648 |
| 10 |
$2,475,100 |
$876,117
$111,380 |
$1,487,603 |
| 11 |
$2,598,802 |
$921,887
$116,946 |
$1,559,969 |
| 12 |
$2,728,758 |
$969,971
$122,794 |
$1,635,993 |
| 13 |
$2,865,180 |
$1,020,447
$128,933 |
$1,715,800 |
| 14 |
$3,008,492 |
$1,073,472
$135,382 |
$1,799,638 |
| 15 |
$3,158,906 |
$1,129,126
$142,151 |
$1,887,629 |
| 16 |
$3,316,846 |
$1,187,563
$149,258 |
$1,980,025 |
| 17 |
$3,482,630 |
$1,248,903
$156,718 |
$2,077,009 |
| 18 |
$3,656,788 |
$1,313,342
$164,555 |
$2,178,891 |
| 19 |
$3,839,638 |
$1,380,996
$172,784 |
$2,285,858 |
| 20 |
$4,031,604 |
$1,452,024
$181,422 |
$2,398,158 |
| 21 |
$4,233,216 |
$1,526,620
$190,495 |
$2,516,101 |
| 22 |
$4,444,898 |
$1,604,943
$200,020 |
$2,639,935 |
| 23 |
$4,667,074 |
$1,687,148
$210,018 |
$2,769,908 |
| 24 |
$4,900,486 |
$1,773,510
$220,522 |
$2,906,454 |
| 25 |
$5,145,452 |
$1,864,148
$231,545 |
$3,049,759 |
| 26 |
$5,402,820 |
$1,959,374
$243,127 |
$3,200,319 |
| 27 |
$5,672,908 |
$2,059,306
$255,281 |
$3,358,321 |
| 28 |
$5,956,564 |
$2,164,259
$268,045 |
$3,524,260 |
| 29 |
$6,254,424 |
$2,274,467
$281,449 |
$3,698,508 |
| 30 |
$6,567,124 |
$2,390,166
$295,521 |
$3,881,437 |
|
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