The jackpot for the Powerball draw on Wed Apr 2, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado Powerball Jackpot/Cash Option for Wed Apr 2, 2025 |
|---|
| Draw Date | Wed Apr 2, 2025 | | Projected Jackpot | $30,000,000 | | Cash Value | $13,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,900,000 | | Federal Tax(24%) | $3,336,000 | | Additional Federal Tax | $1,767,330 | | State Tax(4%) | $556,000 | | Net Lumpsum Payment | $8,240,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$451,530 |
$127,396
$18,061 |
$306,073 |
| 2 |
$474,120 |
$135,755
$18,965 |
$319,400 |
| 3 |
$497,820 |
$144,524
$19,913 |
$333,383 |
| 4 |
$522,720 |
$153,737
$20,909 |
$348,074 |
| 5 |
$548,850 |
$163,405
$21,954 |
$363,491 |
| 6 |
$576,300 |
$173,561
$23,052 |
$379,687 |
| 7 |
$605,100 |
$184,217
$24,204 |
$396,679 |
| 8 |
$635,370 |
$195,417
$25,415 |
$414,538 |
| 9 |
$667,140 |
$207,172
$26,686 |
$433,282 |
| 10 |
$700,500 |
$219,515
$28,020 |
$452,965 |
| 11 |
$735,510 |
$232,469
$29,420 |
$473,621 |
| 12 |
$772,290 |
$246,078
$30,892 |
$495,320 |
| 13 |
$810,900 |
$260,363
$32,436 |
$518,101 |
| 14 |
$851,460 |
$275,371
$34,058 |
$542,031 |
| 15 |
$894,030 |
$291,121
$35,761 |
$567,148 |
| 16 |
$938,730 |
$307,660
$37,549 |
$593,521 |
| 17 |
$985,650 |
$325,021
$39,426 |
$621,203 |
| 18 |
$1,034,940 |
$343,258
$41,398 |
$650,284 |
| 19 |
$1,086,690 |
$362,406
$43,468 |
$680,816 |
| 20 |
$1,141,020 |
$382,508
$45,641 |
$712,871 |
| 21 |
$1,198,080 |
$403,620
$47,923 |
$746,537 |
| 22 |
$1,257,990 |
$425,787
$50,320 |
$781,883 |
| 23 |
$1,320,870 |
$449,052
$52,835 |
$818,983 |
| 24 |
$1,386,930 |
$473,494
$55,477 |
$857,959 |
| 25 |
$1,456,260 |
$499,147
$58,250 |
$898,863 |
| 26 |
$1,529,100 |
$526,097
$61,164 |
$941,839 |
| 27 |
$1,605,540 |
$554,380
$64,222 |
$986,938 |
| 28 |
$1,685,820 |
$584,084
$67,433 |
$1,034,303 |
| 29 |
$1,770,120 |
$615,275
$70,805 |
$1,084,040 |
| 30 |
$1,858,620 |
$648,020
$74,345 |
$1,136,255 |
|
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