The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 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 Delaware, the bright side is you won't have to pay any state taxes on your lottery prize.
Delaware Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
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Draw Date | Sat Apr 5, 2025 | Projected Jackpot | $47,000,000 | Cash Value | $21,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $21,800,000 | Federal Tax(24%) | $5,232,000 | Additional Federal Tax | $2,794,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $13,773,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$707,397 |
$222,067 $0 |
$485,330 |
2 |
$742,788 |
$235,162 $0 |
$507,626 |
3 |
$779,918 |
$248,900 $0 |
$531,018 |
4 |
$818,928 |
$263,334 $0 |
$555,594 |
5 |
$859,865 |
$278,480 $0 |
$581,385 |
6 |
$902,870 |
$294,392 $0 |
$608,478 |
7 |
$947,990 |
$311,087 $0 |
$636,903 |
8 |
$995,413 |
$328,633 $0 |
$666,780 |
9 |
$1,045,186 |
$347,049 $0 |
$698,137 |
10 |
$1,097,450 |
$366,387 $0 |
$731,063 |
11 |
$1,152,299 |
$386,681 $0 |
$765,618 |
12 |
$1,209,921 |
$408,001 $0 |
$801,920 |
13 |
$1,270,410 |
$430,382 $0 |
$840,028 |
14 |
$1,333,954 |
$453,893 $0 |
$880,061 |
15 |
$1,400,647 |
$478,570 $0 |
$922,077 |
16 |
$1,470,677 |
$504,481 $0 |
$966,196 |
17 |
$1,544,185 |
$531,679 $0 |
$1,012,506 |
18 |
$1,621,406 |
$560,251 $0 |
$1,061,155 |
19 |
$1,702,481 |
$590,248 $0 |
$1,112,233 |
20 |
$1,787,598 |
$621,742 $0 |
$1,165,856 |
21 |
$1,876,992 |
$654,817 $0 |
$1,222,175 |
22 |
$1,970,851 |
$689,545 $0 |
$1,281,306 |
23 |
$2,069,363 |
$725,995 $0 |
$1,343,368 |
24 |
$2,172,857 |
$764,287 $0 |
$1,408,570 |
25 |
$2,281,474 |
$804,476 $0 |
$1,476,998 |
26 |
$2,395,590 |
$846,699 $0 |
$1,548,891 |
27 |
$2,515,346 |
$891,008 $0 |
$1,624,338 |
28 |
$2,641,118 |
$937,544 $0 |
$1,703,574 |
29 |
$2,773,188 |
$986,410 $0 |
$1,786,778 |
30 |
$2,911,838 |
$1,037,710 $0 |
$1,874,128 |
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