The jackpot for the Powerball draw on Sat Jul 19, 2025, is projected to be $288 Million, with an option for a cash payout of $130.6 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
Florida Powerball Jackpot/Cash Option for Sat Jul 19, 2025 |
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Draw Date | Sat Jul 19, 2025 | Projected Jackpot | $288,000,000 | Cash Value | $130,600,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $130,600,000 | Federal Tax(24%) | $31,344,000 | Additional Federal Tax | $16,938,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $82,317,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,334,688 |
$1,564,165 $0 |
$2,770,523 |
2 |
$4,551,552 |
$1,644,405 $0 |
$2,907,147 |
3 |
$4,779,072 |
$1,728,587 $0 |
$3,050,485 |
4 |
$5,018,112 |
$1,817,032 $0 |
$3,201,080 |
5 |
$5,268,960 |
$1,909,846 $0 |
$3,359,114 |
6 |
$5,532,480 |
$2,007,348 $0 |
$3,525,132 |
7 |
$5,808,960 |
$2,109,646 $0 |
$3,699,314 |
8 |
$6,099,552 |
$2,217,165 $0 |
$3,882,387 |
9 |
$6,404,544 |
$2,330,012 $0 |
$4,074,532 |
10 |
$6,724,800 |
$2,448,506 $0 |
$4,276,294 |
11 |
$7,060,896 |
$2,572,862 $0 |
$4,488,034 |
12 |
$7,413,984 |
$2,703,504 $0 |
$4,710,480 |
13 |
$7,784,640 |
$2,840,647 $0 |
$4,943,993 |
14 |
$8,174,016 |
$2,984,716 $0 |
$5,189,300 |
15 |
$8,582,688 |
$3,135,925 $0 |
$5,446,763 |
16 |
$9,011,808 |
$3,294,699 $0 |
$5,717,109 |
17 |
$9,462,240 |
$3,461,359 $0 |
$6,000,881 |
18 |
$9,935,424 |
$3,636,437 $0 |
$6,298,987 |
19 |
$10,432,224 |
$3,820,253 $0 |
$6,611,971 |
20 |
$10,953,792 |
$4,013,233 $0 |
$6,940,559 |
21 |
$11,501,568 |
$4,215,911 $0 |
$7,285,657 |
22 |
$12,076,704 |
$4,428,711 $0 |
$7,647,993 |
23 |
$12,680,352 |
$4,652,061 $0 |
$8,028,291 |
24 |
$13,314,528 |
$4,886,706 $0 |
$8,427,822 |
25 |
$13,980,096 |
$5,132,966 $0 |
$8,847,130 |
26 |
$14,679,360 |
$5,391,694 $0 |
$9,287,666 |
27 |
$15,413,184 |
$5,663,208 $0 |
$9,749,976 |
28 |
$16,183,872 |
$5,948,363 $0 |
$10,235,509 |
29 |
$16,993,152 |
$6,247,797 $0 |
$10,745,355 |
30 |
$17,842,752 |
$6,562,149 $0 |
$11,280,603 |
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