The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 Wed Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(3.15%) | $3,770,550 | | Net Lumpsum Payment | $71,680,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$125,164 |
$2,417,788 |
| 2 |
$4,172,256 |
$1,504,065
$131,426 |
$2,536,765 |
| 3 |
$4,380,816 |
$1,581,232
$137,996 |
$2,661,588 |
| 4 |
$4,599,936 |
$1,662,307
$144,898 |
$2,792,731 |
| 5 |
$4,829,880 |
$1,747,386
$152,141 |
$2,930,353 |
| 6 |
$5,071,440 |
$1,836,763
$159,750 |
$3,074,927 |
| 7 |
$5,324,880 |
$1,930,536
$167,734 |
$3,226,610 |
| 8 |
$5,591,256 |
$2,029,095
$176,125 |
$3,386,036 |
| 9 |
$5,870,832 |
$2,132,538
$184,931 |
$3,553,363 |
| 10 |
$6,164,400 |
$2,241,158
$194,179 |
$3,729,063 |
| 11 |
$6,472,488 |
$2,355,151
$203,883 |
$3,913,454 |
| 12 |
$6,796,152 |
$2,474,907
$214,079 |
$4,107,166 |
| 13 |
$7,135,920 |
$2,600,621
$224,781 |
$4,310,518 |
| 14 |
$7,492,848 |
$2,732,684
$236,025 |
$4,524,139 |
| 15 |
$7,867,464 |
$2,871,292
$247,825 |
$4,748,347 |
| 16 |
$8,260,824 |
$3,016,835
$260,216 |
$4,983,773 |
| 17 |
$8,673,720 |
$3,169,607
$273,222 |
$5,230,891 |
| 18 |
$9,107,472 |
$3,330,095
$286,885 |
$5,490,492 |
| 19 |
$9,562,872 |
$3,498,593
$301,230 |
$5,763,049 |
| 20 |
$10,040,976 |
$3,675,492
$316,291 |
$6,049,193 |
| 21 |
$10,543,104 |
$3,861,279
$332,108 |
$6,349,717 |
| 22 |
$11,070,312 |
$4,056,346
$348,715 |
$6,665,251 |
| 23 |
$11,623,656 |
$4,261,083
$366,145 |
$6,996,428 |
| 24 |
$12,204,984 |
$4,476,174
$384,457 |
$7,344,353 |
| 25 |
$12,815,088 |
$4,701,913
$403,675 |
$7,709,500 |
| 26 |
$13,456,080 |
$4,939,080
$423,867 |
$8,093,133 |
| 27 |
$14,128,752 |
$5,187,969
$445,056 |
$8,495,727 |
| 28 |
$14,835,216 |
$5,449,360
$467,309 |
$8,918,547 |
| 29 |
$15,577,056 |
$5,723,841
$490,677 |
$9,362,538 |
| 30 |
$16,355,856 |
$6,011,997
$515,209 |
$9,828,650 |
|
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