The jackpot for the Powerball draw on Wed Apr 2, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 Wed Apr 2, 2025 |
|---|
| Draw Date | Wed Apr 2, 2025 | | Projected Jackpot | $30,000,000 | | Cash Value | $13,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,900,000 | | Federal Tax(24%) | $3,336,000 | | Additional Federal Tax | $1,767,330 | | State Tax(3.15%) | $437,850 | | Net Lumpsum Payment | $8,358,820 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$451,530 |
$127,396
$14,223 |
$309,911 |
| 2 |
$474,120 |
$135,755
$14,935 |
$323,430 |
| 3 |
$497,820 |
$144,524
$15,681 |
$337,615 |
| 4 |
$522,720 |
$153,737
$16,466 |
$352,517 |
| 5 |
$548,850 |
$163,405
$17,289 |
$368,156 |
| 6 |
$576,300 |
$173,561
$18,153 |
$384,586 |
| 7 |
$605,100 |
$184,217
$19,061 |
$401,822 |
| 8 |
$635,370 |
$195,417
$20,014 |
$419,939 |
| 9 |
$667,140 |
$207,172
$21,015 |
$438,953 |
| 10 |
$700,500 |
$219,515
$22,066 |
$458,919 |
| 11 |
$735,510 |
$232,469
$23,169 |
$479,872 |
| 12 |
$772,290 |
$246,078
$24,327 |
$501,885 |
| 13 |
$810,900 |
$260,363
$25,543 |
$524,994 |
| 14 |
$851,460 |
$275,371
$26,821 |
$549,268 |
| 15 |
$894,030 |
$291,121
$28,162 |
$574,747 |
| 16 |
$938,730 |
$307,660
$29,570 |
$601,500 |
| 17 |
$985,650 |
$325,021
$31,048 |
$629,581 |
| 18 |
$1,034,940 |
$343,258
$32,601 |
$659,081 |
| 19 |
$1,086,690 |
$362,406
$34,231 |
$690,053 |
| 20 |
$1,141,020 |
$382,508
$35,942 |
$722,570 |
| 21 |
$1,198,080 |
$403,620
$37,740 |
$756,720 |
| 22 |
$1,257,990 |
$425,787
$39,627 |
$792,576 |
| 23 |
$1,320,870 |
$449,052
$41,607 |
$830,211 |
| 24 |
$1,386,930 |
$473,494
$43,688 |
$869,748 |
| 25 |
$1,456,260 |
$499,147
$45,872 |
$911,241 |
| 26 |
$1,529,100 |
$526,097
$48,167 |
$954,836 |
| 27 |
$1,605,540 |
$554,380
$50,575 |
$1,000,585 |
| 28 |
$1,685,820 |
$584,084
$53,103 |
$1,048,633 |
| 29 |
$1,770,120 |
$615,275
$55,759 |
$1,099,086 |
| 30 |
$1,858,620 |
$648,020
$58,547 |
$1,152,053 |
|
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