The jackpot for the Powerball draw on Sat Jul 12, 2025, is projected to be $234 Million, with an option for a cash payout of $106.6 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 Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Sat Jul 12, 2025 |
|---|
| Draw Date | Sat Jul 12, 2025 | | Projected Jackpot | $234,000,000 | | Cash Value | $106,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $106,600,000 | | Federal Tax(24%) | $25,584,000 | | Additional Federal Tax | $13,818,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $67,197,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,521,934 |
$1,263,446
$0 |
$2,258,488 |
| 2 |
$3,698,136 |
$1,328,641
$0 |
$2,369,495 |
| 3 |
$3,882,996 |
$1,397,039
$0 |
$2,485,957 |
| 4 |
$4,077,216 |
$1,468,900
$0 |
$2,608,316 |
| 5 |
$4,281,030 |
$1,544,311
$0 |
$2,736,719 |
| 6 |
$4,495,140 |
$1,623,532
$0 |
$2,871,608 |
| 7 |
$4,719,780 |
$1,706,649
$0 |
$3,013,131 |
| 8 |
$4,955,886 |
$1,794,008
$0 |
$3,161,878 |
| 9 |
$5,203,692 |
$1,885,696
$0 |
$3,317,996 |
| 10 |
$5,463,900 |
$1,981,973
$0 |
$3,481,927 |
| 11 |
$5,736,978 |
$2,083,012
$0 |
$3,653,966 |
| 12 |
$6,023,862 |
$2,189,159
$0 |
$3,834,703 |
| 13 |
$6,325,020 |
$2,300,588
$0 |
$4,024,432 |
| 14 |
$6,641,388 |
$2,417,644
$0 |
$4,223,744 |
| 15 |
$6,973,434 |
$2,540,501
$0 |
$4,432,933 |
| 16 |
$7,322,094 |
$2,669,505
$0 |
$4,652,589 |
| 17 |
$7,688,070 |
$2,804,916
$0 |
$4,883,154 |
| 18 |
$8,072,532 |
$2,947,167
$0 |
$5,125,365 |
| 19 |
$8,476,182 |
$3,096,518
$0 |
$5,379,664 |
| 20 |
$8,899,956 |
$3,253,314
$0 |
$5,646,642 |
| 21 |
$9,345,024 |
$3,417,989
$0 |
$5,927,035 |
| 22 |
$9,812,322 |
$3,590,890
$0 |
$6,221,432 |
| 23 |
$10,302,786 |
$3,772,361
$0 |
$6,530,425 |
| 24 |
$10,818,054 |
$3,963,010
$0 |
$6,855,044 |
| 25 |
$11,358,828 |
$4,163,097
$0 |
$7,195,731 |
| 26 |
$11,926,980 |
$4,373,313
$0 |
$7,553,667 |
| 27 |
$12,523,212 |
$4,593,919
$0 |
$7,929,293 |
| 28 |
$13,149,396 |
$4,825,607
$0 |
$8,323,789 |
| 29 |
$13,806,936 |
$5,068,897
$0 |
$8,738,039 |
| 30 |
$14,497,236 |
$5,324,308
$0 |
$9,172,928 |
|
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