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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $4,251,240 | | Net Lumpsum Payment | $26,154,430 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,595,406 |
$550,631
$140,715 |
$904,060 |
| 2 |
$1,675,224 |
$580,163
$147,755 |
$947,306 |
| 3 |
$1,758,964 |
$611,147
$155,141 |
$992,676 |
| 4 |
$1,846,944 |
$643,700
$162,900 |
$1,040,344 |
| 5 |
$1,939,270 |
$677,860
$171,044 |
$1,090,366 |
| 6 |
$2,036,260 |
$713,747
$179,598 |
$1,142,915 |
| 7 |
$2,138,020 |
$751,398
$188,573 |
$1,198,049 |
| 8 |
$2,244,974 |
$790,971
$198,007 |
$1,255,996 |
| 9 |
$2,357,228 |
$832,505
$207,908 |
$1,316,815 |
| 10 |
$2,475,100 |
$876,117
$218,304 |
$1,380,679 |
| 11 |
$2,598,802 |
$921,887
$229,214 |
$1,447,701 |
| 12 |
$2,728,758 |
$969,971
$240,676 |
$1,518,111 |
| 13 |
$2,865,180 |
$1,020,447
$252,709 |
$1,592,024 |
| 14 |
$3,008,492 |
$1,073,472
$265,349 |
$1,669,671 |
| 15 |
$3,158,906 |
$1,129,126
$278,616 |
$1,751,164 |
| 16 |
$3,316,846 |
$1,187,563
$292,546 |
$1,836,737 |
| 17 |
$3,482,630 |
$1,248,903
$307,168 |
$1,926,559 |
| 18 |
$3,656,788 |
$1,313,342
$322,529 |
$2,020,917 |
| 19 |
$3,839,638 |
$1,380,996
$338,656 |
$2,119,986 |
| 20 |
$4,031,604 |
$1,452,024
$355,587 |
$2,223,993 |
| 21 |
$4,233,216 |
$1,526,620
$373,370 |
$2,333,226 |
| 22 |
$4,444,898 |
$1,604,943
$392,040 |
$2,447,915 |
| 23 |
$4,667,074 |
$1,687,148
$411,636 |
$2,568,290 |
| 24 |
$4,900,486 |
$1,773,510
$432,223 |
$2,694,753 |
| 25 |
$5,145,452 |
$1,864,148
$453,829 |
$2,827,475 |
| 26 |
$5,402,820 |
$1,959,374
$476,529 |
$2,966,917 |
| 27 |
$5,672,908 |
$2,059,306
$500,350 |
$3,113,252 |
| 28 |
$5,956,564 |
$2,164,259
$525,369 |
$3,266,936 |
| 29 |
$6,254,424 |
$2,274,467
$551,640 |
$3,428,317 |
| 30 |
$6,567,124 |
$2,390,166
$579,220 |
$3,597,738 |
|
|
