The jackpot for the Powerball draw on Wed Apr 23, 2025, is projected to be $151 Million, with an option for a cash payout of $69.3 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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky Powerball Jackpot/Cash Option for Wed Apr 23, 2025 |
|---|
| Draw Date | Wed Apr 23, 2025 | | Projected Jackpot | $151,000,000 | | Cash Value | $69,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $69,300,000 | | Federal Tax(24%) | $16,632,000 | | Additional Federal Tax | $8,969,330 | | State Tax(4.5%) | $3,118,500 | | Net Lumpsum Payment | $40,580,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,272,701 |
$801,230
$102,272 |
$1,369,199 |
| 2 |
$2,386,404 |
$843,300
$107,388 |
$1,435,716 |
| 3 |
$2,505,694 |
$887,437
$112,756 |
$1,505,501 |
| 4 |
$2,631,024 |
$933,809
$118,396 |
$1,578,819 |
| 5 |
$2,762,545 |
$982,472
$124,315 |
$1,655,758 |
| 6 |
$2,900,710 |
$1,033,593
$130,532 |
$1,736,585 |
| 7 |
$3,045,670 |
$1,087,228
$137,055 |
$1,821,387 |
| 8 |
$3,198,029 |
$1,143,601
$143,911 |
$1,910,517 |
| 9 |
$3,357,938 |
$1,202,767
$151,107 |
$2,004,064 |
| 10 |
$3,525,850 |
$1,264,895
$158,663 |
$2,102,292 |
| 11 |
$3,702,067 |
$1,330,095
$166,593 |
$2,205,379 |
| 12 |
$3,887,193 |
$1,398,592
$174,924 |
$2,313,677 |
| 13 |
$4,081,530 |
$1,470,496
$183,669 |
$2,427,365 |
| 14 |
$4,285,682 |
$1,546,033
$192,856 |
$2,546,793 |
| 15 |
$4,499,951 |
$1,625,312
$202,498 |
$2,672,141 |
| 16 |
$4,724,941 |
$1,708,559
$212,622 |
$2,803,760 |
| 17 |
$4,961,105 |
$1,795,939
$223,250 |
$2,941,916 |
| 18 |
$5,209,198 |
$1,887,734
$234,414 |
$3,087,050 |
| 19 |
$5,469,673 |
$1,984,109
$246,135 |
$3,239,429 |
| 20 |
$5,743,134 |
$2,085,290
$258,441 |
$3,399,403 |
| 21 |
$6,030,336 |
$2,191,555
$271,365 |
$3,567,416 |
| 22 |
$6,331,883 |
$2,303,127
$284,935 |
$3,743,821 |
| 23 |
$6,648,379 |
$2,420,231
$299,177 |
$3,928,971 |
| 24 |
$6,980,881 |
$2,543,256
$314,140 |
$4,123,485 |
| 25 |
$7,329,842 |
$2,672,372
$329,843 |
$4,327,627 |
| 26 |
$7,696,470 |
$2,808,024
$346,341 |
$4,542,105 |
| 27 |
$8,081,218 |
$2,950,381
$363,655 |
$4,767,182 |
| 28 |
$8,485,294 |
$3,099,889
$381,838 |
$5,003,567 |
| 29 |
$8,909,604 |
$3,256,884
$400,932 |
$5,251,788 |
| 30 |
$9,355,054 |
$3,421,700
$420,977 |
$5,512,377 |
|
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