The jackpot for the Powerball draw on Wed Jun 25, 2025, is projected to be $140 Million, with an option for a cash payout of $63 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Jun 25, 2025 |
|---|
| Draw Date | Wed Jun 25, 2025 | | Projected Jackpot | $140,000,000 | | Cash Value | $63,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,000,000 | | Federal Tax(24%) | $15,120,000 | | Additional Federal Tax | $8,150,330 | | State Tax(4.25%) | $2,677,500 | | Net Lumpsum Payment | $37,052,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,107,140 |
$739,972
$89,553 |
$1,277,615 |
| 2 |
$2,212,560 |
$778,978
$94,034 |
$1,339,548 |
| 3 |
$2,323,160 |
$819,900
$98,734 |
$1,404,526 |
| 4 |
$2,439,360 |
$862,894
$103,673 |
$1,472,793 |
| 5 |
$2,561,300 |
$908,011
$108,855 |
$1,544,434 |
| 6 |
$2,689,400 |
$955,408
$114,300 |
$1,619,692 |
| 7 |
$2,823,800 |
$1,005,136
$120,012 |
$1,698,652 |
| 8 |
$2,965,060 |
$1,057,403
$126,015 |
$1,781,642 |
| 9 |
$3,113,320 |
$1,112,259
$132,316 |
$1,868,745 |
| 10 |
$3,269,000 |
$1,169,860
$138,933 |
$1,960,207 |
| 11 |
$3,432,380 |
$1,230,311
$145,876 |
$2,056,193 |
| 12 |
$3,604,020 |
$1,293,818
$153,171 |
$2,157,031 |
| 13 |
$3,784,200 |
$1,360,484
$160,829 |
$2,262,887 |
| 14 |
$3,973,480 |
$1,430,518
$168,873 |
$2,374,089 |
| 15 |
$4,172,140 |
$1,504,022
$177,316 |
$2,490,802 |
| 16 |
$4,380,740 |
$1,581,204
$186,181 |
$2,613,355 |
| 17 |
$4,599,700 |
$1,662,219
$195,487 |
$2,741,994 |
| 18 |
$4,829,720 |
$1,747,327
$205,263 |
$2,877,130 |
| 19 |
$5,071,220 |
$1,836,682
$215,527 |
$3,019,011 |
| 20 |
$5,324,760 |
$1,930,492
$226,302 |
$3,167,966 |
| 21 |
$5,591,040 |
$2,029,015
$237,619 |
$3,324,406 |
| 22 |
$5,870,620 |
$2,132,460
$249,501 |
$3,488,659 |
| 23 |
$6,164,060 |
$2,241,033
$261,973 |
$3,661,054 |
| 24 |
$6,472,340 |
$2,355,096
$275,074 |
$3,842,170 |
| 25 |
$6,795,880 |
$2,474,806
$288,825 |
$4,032,249 |
| 26 |
$7,135,800 |
$2,600,576
$303,272 |
$4,231,952 |
| 27 |
$7,492,520 |
$2,732,563
$318,432 |
$4,441,525 |
| 28 |
$7,867,160 |
$2,871,180
$334,354 |
$4,661,626 |
| 29 |
$8,260,560 |
$3,016,738
$351,074 |
$4,892,748 |
| 30 |
$8,673,560 |
$3,169,548
$368,626 |
$5,135,386 |
|
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