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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana 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(4.75%) | $4,997,000 | | Net Lumpsum Payment | $61,318,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$164,432 |
$2,056,128 |
| 2 |
$3,634,920 |
$1,305,251
$172,659 |
$2,157,010 |
| 3 |
$3,816,620 |
$1,372,480
$181,289 |
$2,262,851 |
| 4 |
$4,007,520 |
$1,443,113
$190,357 |
$2,374,050 |
| 5 |
$4,207,850 |
$1,517,235
$199,873 |
$2,490,742 |
| 6 |
$4,418,300 |
$1,595,101
$209,869 |
$2,613,330 |
| 7 |
$4,639,100 |
$1,676,797
$220,357 |
$2,741,946 |
| 8 |
$4,871,170 |
$1,762,663
$231,381 |
$2,877,126 |
| 9 |
$5,114,740 |
$1,852,784
$242,950 |
$3,019,006 |
| 10 |
$5,370,500 |
$1,947,415
$255,099 |
$3,167,986 |
| 11 |
$5,638,910 |
$2,046,727
$267,848 |
$3,324,335 |
| 12 |
$5,920,890 |
$2,151,060
$281,242 |
$3,488,588 |
| 13 |
$6,216,900 |
$2,260,583
$295,303 |
$3,661,014 |
| 14 |
$6,527,860 |
$2,375,639
$310,073 |
$3,842,148 |
| 15 |
$6,854,230 |
$2,496,395
$325,576 |
$4,032,259 |
| 16 |
$7,196,930 |
$2,623,194
$341,854 |
$4,231,882 |
| 17 |
$7,556,650 |
$2,756,291
$358,941 |
$4,441,418 |
| 18 |
$7,934,540 |
$2,896,110
$376,891 |
$4,661,539 |
| 19 |
$8,331,290 |
$3,042,908
$395,736 |
$4,892,646 |
| 20 |
$8,747,820 |
$3,197,024
$415,521 |
$5,135,275 |
| 21 |
$9,185,280 |
$3,358,884
$436,301 |
$5,390,095 |
| 22 |
$9,644,590 |
$3,528,829
$458,118 |
$5,657,643 |
| 23 |
$10,126,670 |
$3,707,198
$481,017 |
$5,938,455 |
| 24 |
$10,633,130 |
$3,894,588
$505,074 |
$6,233,468 |
| 25 |
$11,164,660 |
$4,091,255
$530,321 |
$6,543,084 |
| 26 |
$11,723,100 |
$4,297,877
$556,847 |
$6,868,376 |
| 27 |
$12,309,140 |
$4,514,712
$584,684 |
$7,209,744 |
| 28 |
$12,924,620 |
$4,742,440
$613,919 |
$7,568,261 |
| 29 |
$13,570,920 |
$4,981,571
$644,619 |
$7,944,730 |
| 30 |
$14,249,420 |
$5,232,616
$676,847 |
$8,339,957 |
|
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