The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
Indiana Powerball Jackpot/Cash Option for Sat Aug 9, 2025 |
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Draw Date | Sat Aug 9, 2025 | Projected Jackpot | $482,000,000 | Cash Value | $218,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $218,900,000 | Federal Tax(24%) | $52,536,000 | Additional Federal Tax | $28,417,330 | State Tax(3.15%) | $6,895,350 | Net Lumpsum Payment | $131,051,320 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$7,254,582 |
$2,644,526 $228,519 |
$4,381,537 |
2 |
$7,617,528 |
$2,778,816 $239,952 |
$4,598,760 |
3 |
$7,998,308 |
$2,919,704 $251,947 |
$4,826,657 |
4 |
$8,398,368 |
$3,067,727 $264,549 |
$5,066,092 |
5 |
$8,818,190 |
$3,223,061 $277,773 |
$5,317,356 |
6 |
$9,259,220 |
$3,386,242 $291,665 |
$5,581,313 |
7 |
$9,721,940 |
$3,557,448 $306,241 |
$5,858,251 |
8 |
$10,208,278 |
$3,737,393 $321,561 |
$6,149,324 |
9 |
$10,718,716 |
$3,926,255 $337,640 |
$6,454,821 |
10 |
$11,254,700 |
$4,124,569 $354,523 |
$6,775,608 |
11 |
$11,817,194 |
$4,332,692 $372,242 |
$7,112,260 |
12 |
$12,408,126 |
$4,551,337 $390,856 |
$7,465,933 |
13 |
$13,028,460 |
$4,780,861 $410,396 |
$7,837,203 |
14 |
$13,680,124 |
$5,021,976 $430,924 |
$8,227,224 |
15 |
$14,364,082 |
$5,275,041 $452,469 |
$8,636,572 |
16 |
$15,082,262 |
$5,540,767 $475,091 |
$9,066,404 |
17 |
$15,836,110 |
$5,819,691 $498,837 |
$9,517,582 |
18 |
$16,628,036 |
$6,112,704 $523,783 |
$9,991,549 |
19 |
$17,459,486 |
$6,420,340 $549,974 |
$10,489,172 |
20 |
$18,332,388 |
$6,743,314 $577,470 |
$11,011,604 |
21 |
$19,249,152 |
$7,082,517 $606,348 |
$11,560,287 |
22 |
$20,211,706 |
$7,438,662 $636,669 |
$12,136,375 |
23 |
$21,221,978 |
$7,812,462 $668,492 |
$12,741,024 |
24 |
$22,283,342 |
$8,205,167 $701,925 |
$13,376,250 |
25 |
$23,397,244 |
$8,617,311 $737,013 |
$14,042,920 |
26 |
$24,567,540 |
$9,050,320 $773,878 |
$14,743,342 |
27 |
$25,795,676 |
$9,504,731 $812,564 |
$15,478,381 |
28 |
$27,085,508 |
$9,981,968 $853,194 |
$16,250,346 |
29 |
$28,439,928 |
$10,483,104 $895,858 |
$17,060,966 |
30 |
$29,861,828 |
$11,009,207 $940,648 |
$17,911,973 |
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