The jackpot for the Powerball draw on Mon Mar 10, 2025, is projected to be $335 Million, with an option for a cash payout of $157.3 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina Powerball Jackpot/Cash Option for Mon Mar 10, 2025 |
|---|
| Draw Date | Mon Mar 10, 2025 | | Projected Jackpot | $335,000,000 | | Cash Value | $157,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $157,300,000 | | Federal Tax(24%) | $37,752,000 | | Additional Federal Tax | $20,409,330 | | State Tax(4.75%) | $7,471,750 | | Net Lumpsum Payment | $91,666,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,042,085 |
$1,825,902
$239,499 |
$2,976,684 |
| 2 |
$5,294,340 |
$1,919,236
$251,481 |
$3,123,623 |
| 3 |
$5,558,990 |
$2,017,157
$264,052 |
$3,277,781 |
| 4 |
$5,837,040 |
$2,120,035
$277,259 |
$3,439,746 |
| 5 |
$6,128,825 |
$2,227,996
$291,119 |
$3,609,710 |
| 6 |
$6,435,350 |
$2,341,410
$305,679 |
$3,788,261 |
| 7 |
$6,756,950 |
$2,460,402
$320,955 |
$3,975,593 |
| 8 |
$7,094,965 |
$2,585,467
$337,011 |
$4,172,487 |
| 9 |
$7,449,730 |
$2,716,730
$353,862 |
$4,379,138 |
| 10 |
$7,822,250 |
$2,854,563
$371,557 |
$4,596,130 |
| 11 |
$8,213,195 |
$2,999,213
$390,127 |
$4,823,855 |
| 12 |
$8,623,905 |
$3,151,175
$409,635 |
$5,063,095 |
| 13 |
$9,055,050 |
$3,310,699
$430,115 |
$5,314,236 |
| 14 |
$9,507,970 |
$3,478,279
$451,629 |
$5,578,062 |
| 15 |
$9,983,335 |
$3,654,164
$474,208 |
$5,854,963 |
| 16 |
$10,482,485 |
$3,838,850
$497,918 |
$6,145,717 |
| 17 |
$11,006,425 |
$4,032,708
$522,805 |
$6,450,912 |
| 18 |
$11,556,830 |
$4,236,357
$548,949 |
$6,771,524 |
| 19 |
$12,134,705 |
$4,450,171
$576,398 |
$7,108,136 |
| 20 |
$12,741,390 |
$4,674,645
$605,216 |
$7,461,529 |
| 21 |
$13,378,560 |
$4,910,398
$635,482 |
$7,832,680 |
| 22 |
$14,047,555 |
$5,157,926
$667,259 |
$8,222,370 |
| 23 |
$14,749,715 |
$5,417,725
$700,611 |
$8,631,379 |
| 24 |
$15,487,385 |
$5,690,663
$735,651 |
$9,061,071 |
| 25 |
$16,261,570 |
$5,977,111
$772,425 |
$9,512,034 |
| 26 |
$17,074,950 |
$6,278,062
$811,060 |
$9,985,828 |
| 27 |
$17,928,530 |
$6,593,886
$851,605 |
$10,483,039 |
| 28 |
$18,824,990 |
$6,925,577
$894,187 |
$11,005,226 |
| 29 |
$19,766,340 |
$7,273,876
$938,901 |
$11,553,563 |
| 30 |
$20,754,590 |
$7,639,529
$985,843 |
$12,129,218 |
|
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