The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina Powerball Jackpot/Cash Option for Wed Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(4.75%) | $5,685,750 | | Net Lumpsum Payment | $69,764,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$188,740 |
$2,354,212 |
| 2 |
$4,172,256 |
$1,504,065
$198,182 |
$2,470,009 |
| 3 |
$4,380,816 |
$1,581,232
$208,089 |
$2,591,495 |
| 4 |
$4,599,936 |
$1,662,307
$218,497 |
$2,719,132 |
| 5 |
$4,829,880 |
$1,747,386
$229,419 |
$2,853,075 |
| 6 |
$5,071,440 |
$1,836,763
$240,893 |
$2,993,784 |
| 7 |
$5,324,880 |
$1,930,536
$252,932 |
$3,141,412 |
| 8 |
$5,591,256 |
$2,029,095
$265,585 |
$3,296,576 |
| 9 |
$5,870,832 |
$2,132,538
$278,865 |
$3,459,429 |
| 10 |
$6,164,400 |
$2,241,158
$292,809 |
$3,630,433 |
| 11 |
$6,472,488 |
$2,355,151
$307,443 |
$3,809,894 |
| 12 |
$6,796,152 |
$2,474,907
$322,817 |
$3,998,428 |
| 13 |
$7,135,920 |
$2,600,621
$338,956 |
$4,196,343 |
| 14 |
$7,492,848 |
$2,732,684
$355,910 |
$4,404,254 |
| 15 |
$7,867,464 |
$2,871,292
$373,705 |
$4,622,467 |
| 16 |
$8,260,824 |
$3,016,835
$392,389 |
$4,851,600 |
| 17 |
$8,673,720 |
$3,169,607
$412,002 |
$5,092,111 |
| 18 |
$9,107,472 |
$3,330,095
$432,605 |
$5,344,772 |
| 19 |
$9,562,872 |
$3,498,593
$454,236 |
$5,610,043 |
| 20 |
$10,040,976 |
$3,675,492
$476,946 |
$5,888,538 |
| 21 |
$10,543,104 |
$3,861,279
$500,797 |
$6,181,028 |
| 22 |
$11,070,312 |
$4,056,346
$525,840 |
$6,488,126 |
| 23 |
$11,623,656 |
$4,261,083
$552,124 |
$6,810,449 |
| 24 |
$12,204,984 |
$4,476,174
$579,737 |
$7,149,073 |
| 25 |
$12,815,088 |
$4,701,913
$608,717 |
$7,504,458 |
| 26 |
$13,456,080 |
$4,939,080
$639,164 |
$7,877,836 |
| 27 |
$14,128,752 |
$5,187,969
$671,116 |
$8,269,667 |
| 28 |
$14,835,216 |
$5,449,360
$704,673 |
$8,681,183 |
| 29 |
$15,577,056 |
$5,723,841
$739,910 |
$9,113,305 |
| 30 |
$16,355,856 |
$6,011,997
$776,903 |
$9,566,956 |
|
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