The jackpot for the Powerball draw on Mon Feb 24, 2025, is projected to be $230 Million, with an option for a cash payout of $105.2 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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho Powerball Jackpot/Cash Option for Mon Feb 24, 2025 |
|---|
| Draw Date | Mon Feb 24, 2025 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,200,000 | | Federal Tax(24%) | $25,248,000 | | Additional Federal Tax | $13,636,330 | | State Tax(5.8%) | $6,101,600 | | Net Lumpsum Payment | $60,214,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$200,780 |
$2,019,780 |
| 2 |
$3,634,920 |
$1,305,251
$210,825 |
$2,118,844 |
| 3 |
$3,816,620 |
$1,372,480
$221,364 |
$2,222,776 |
| 4 |
$4,007,520 |
$1,443,113
$232,436 |
$2,331,971 |
| 5 |
$4,207,850 |
$1,517,235
$244,055 |
$2,446,560 |
| 6 |
$4,418,300 |
$1,595,101
$256,261 |
$2,566,938 |
| 7 |
$4,639,100 |
$1,676,797
$269,068 |
$2,693,235 |
| 8 |
$4,871,170 |
$1,762,663
$282,528 |
$2,825,979 |
| 9 |
$5,114,740 |
$1,852,784
$296,655 |
$2,965,301 |
| 10 |
$5,370,500 |
$1,947,415
$311,489 |
$3,111,596 |
| 11 |
$5,638,910 |
$2,046,727
$327,057 |
$3,265,126 |
| 12 |
$5,920,890 |
$2,151,060
$343,412 |
$3,426,418 |
| 13 |
$6,216,900 |
$2,260,583
$360,580 |
$3,595,737 |
| 14 |
$6,527,860 |
$2,375,639
$378,616 |
$3,773,605 |
| 15 |
$6,854,230 |
$2,496,395
$397,545 |
$3,960,290 |
| 16 |
$7,196,930 |
$2,623,194
$417,422 |
$4,156,314 |
| 17 |
$7,556,650 |
$2,756,291
$438,286 |
$4,362,073 |
| 18 |
$7,934,540 |
$2,896,110
$460,203 |
$4,578,227 |
| 19 |
$8,331,290 |
$3,042,908
$483,215 |
$4,805,167 |
| 20 |
$8,747,820 |
$3,197,024
$507,374 |
$5,043,422 |
| 21 |
$9,185,280 |
$3,358,884
$532,746 |
$5,293,650 |
| 22 |
$9,644,590 |
$3,528,829
$559,386 |
$5,556,375 |
| 23 |
$10,126,670 |
$3,707,198
$587,347 |
$5,832,125 |
| 24 |
$10,633,130 |
$3,894,588
$616,722 |
$6,121,820 |
| 25 |
$11,164,660 |
$4,091,255
$647,550 |
$6,425,855 |
| 26 |
$11,723,100 |
$4,297,877
$679,940 |
$6,745,283 |
| 27 |
$12,309,140 |
$4,514,712
$713,930 |
$7,080,498 |
| 28 |
$12,924,620 |
$4,742,440
$749,628 |
$7,432,552 |
| 29 |
$13,570,920 |
$4,981,571
$787,113 |
$7,802,236 |
| 30 |
$14,249,420 |
$5,232,616
$826,466 |
$8,190,338 |
|
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