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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine 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(5%) | $3,465,000 | | Net Lumpsum Payment | $40,233,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,272,701 |
$801,230
$113,635 |
$1,357,836 |
| 2 |
$2,386,404 |
$843,300
$119,320 |
$1,423,784 |
| 3 |
$2,505,694 |
$887,437
$125,285 |
$1,492,972 |
| 4 |
$2,631,024 |
$933,809
$131,551 |
$1,565,664 |
| 5 |
$2,762,545 |
$982,472
$138,127 |
$1,641,946 |
| 6 |
$2,900,710 |
$1,033,593
$145,036 |
$1,722,081 |
| 7 |
$3,045,670 |
$1,087,228
$152,284 |
$1,806,158 |
| 8 |
$3,198,029 |
$1,143,601
$159,901 |
$1,894,527 |
| 9 |
$3,357,938 |
$1,202,767
$167,897 |
$1,987,274 |
| 10 |
$3,525,850 |
$1,264,895
$176,293 |
$2,084,662 |
| 11 |
$3,702,067 |
$1,330,095
$185,103 |
$2,186,869 |
| 12 |
$3,887,193 |
$1,398,592
$194,360 |
$2,294,241 |
| 13 |
$4,081,530 |
$1,470,496
$204,077 |
$2,406,957 |
| 14 |
$4,285,682 |
$1,546,033
$214,284 |
$2,525,365 |
| 15 |
$4,499,951 |
$1,625,312
$224,998 |
$2,649,641 |
| 16 |
$4,724,941 |
$1,708,559
$236,247 |
$2,780,135 |
| 17 |
$4,961,105 |
$1,795,939
$248,055 |
$2,917,111 |
| 18 |
$5,209,198 |
$1,887,734
$260,460 |
$3,061,004 |
| 19 |
$5,469,673 |
$1,984,109
$273,484 |
$3,212,080 |
| 20 |
$5,743,134 |
$2,085,290
$287,157 |
$3,370,687 |
| 21 |
$6,030,336 |
$2,191,555
$301,517 |
$3,537,264 |
| 22 |
$6,331,883 |
$2,303,127
$316,594 |
$3,712,162 |
| 23 |
$6,648,379 |
$2,420,231
$332,419 |
$3,895,729 |
| 24 |
$6,980,881 |
$2,543,256
$349,044 |
$4,088,581 |
| 25 |
$7,329,842 |
$2,672,372
$366,492 |
$4,290,978 |
| 26 |
$7,696,470 |
$2,808,024
$384,824 |
$4,503,622 |
| 27 |
$8,081,218 |
$2,950,381
$404,061 |
$4,726,776 |
| 28 |
$8,485,294 |
$3,099,889
$424,265 |
$4,961,140 |
| 29 |
$8,909,604 |
$3,256,884
$445,480 |
$5,207,240 |
| 30 |
$9,355,054 |
$3,421,700
$467,753 |
$5,465,601 |
|
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