The jackpot for the Powerball draw on Sat Jun 21, 2025, is projected to be $118 Million, with an option for a cash payout of $53.4 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
Georgia Powerball Jackpot/Cash Option for Sat Jun 21, 2025 |
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Draw Date | Sat Jun 21, 2025 | Projected Jackpot | $118,000,000 | Cash Value | $53,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $53,400,000 | Federal Tax(24%) | $12,816,000 | Additional Federal Tax | $6,902,330 | State Tax(5.75%) | $3,070,500 | Net Lumpsum Payment | $30,611,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,776,018 |
$617,457 $102,121 |
$1,056,440 |
2 |
$1,864,872 |
$650,333 $107,230 |
$1,107,309 |
3 |
$1,958,092 |
$684,824 $112,590 |
$1,160,678 |
4 |
$2,056,032 |
$721,062 $118,222 |
$1,216,748 |
5 |
$2,158,810 |
$759,090 $124,132 |
$1,275,588 |
6 |
$2,266,780 |
$799,039 $130,340 |
$1,337,401 |
7 |
$2,380,060 |
$840,953 $136,853 |
$1,402,254 |
8 |
$2,499,122 |
$885,006 $143,700 |
$1,470,416 |
9 |
$2,624,084 |
$931,241 $150,885 |
$1,541,958 |
10 |
$2,755,300 |
$979,791 $158,430 |
$1,617,079 |
11 |
$2,893,006 |
$1,030,743 $166,348 |
$1,695,915 |
12 |
$3,037,674 |
$1,084,270 $174,666 |
$1,778,738 |
13 |
$3,189,540 |
$1,140,460 $183,399 |
$1,865,681 |
14 |
$3,349,076 |
$1,199,489 $192,572 |
$1,957,015 |
15 |
$3,516,518 |
$1,261,442 $202,200 |
$2,052,876 |
16 |
$3,692,338 |
$1,326,495 $212,309 |
$2,153,534 |
17 |
$3,876,890 |
$1,394,780 $222,921 |
$2,259,189 |
18 |
$4,070,764 |
$1,466,513 $234,069 |
$2,370,182 |
19 |
$4,274,314 |
$1,541,827 $245,773 |
$2,486,714 |
20 |
$4,488,012 |
$1,620,895 $258,061 |
$2,609,056 |
21 |
$4,712,448 |
$1,703,936 $270,966 |
$2,737,546 |
22 |
$4,948,094 |
$1,791,125 $284,515 |
$2,872,454 |
23 |
$5,195,422 |
$1,882,637 $298,737 |
$3,014,048 |
24 |
$5,455,258 |
$1,978,776 $313,677 |
$3,162,805 |
25 |
$5,727,956 |
$2,079,674 $329,357 |
$3,318,925 |
26 |
$6,014,460 |
$2,185,681 $345,831 |
$3,482,948 |
27 |
$6,315,124 |
$2,296,926 $363,120 |
$3,655,078 |
28 |
$6,630,892 |
$2,413,760 $381,276 |
$3,835,856 |
29 |
$6,962,472 |
$2,536,445 $400,342 |
$4,025,685 |
30 |
$7,310,572 |
$2,665,242 $420,358 |
$4,224,972 |
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