Jackpot Analysis South Dakota Powerball

Jackpot Analysis for South Dakota Powerball
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 South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.

South Dakota Powerball Jackpot/Cash Option for Wed May 14, 2025
Draw DateWed 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