The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(4.75%) | $1,790,750 | | Net Lumpsum Payment | $21,999,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$58,624 |
$758,580 |
| 2 |
$1,295,928 |
$439,824
$61,557 |
$794,547 |
| 3 |
$1,360,708 |
$463,792
$64,634 |
$832,282 |
| 4 |
$1,428,768 |
$488,975
$67,866 |
$871,927 |
| 5 |
$1,500,190 |
$515,401
$71,259 |
$913,530 |
| 6 |
$1,575,220 |
$543,162
$74,823 |
$957,235 |
| 7 |
$1,653,940 |
$572,288
$78,562 |
$1,003,090 |
| 8 |
$1,736,678 |
$602,901
$82,492 |
$1,051,285 |
| 9 |
$1,823,516 |
$635,031
$86,617 |
$1,101,868 |
| 10 |
$1,914,700 |
$668,769
$90,948 |
$1,154,983 |
| 11 |
$2,010,394 |
$704,176
$95,494 |
$1,210,724 |
| 12 |
$2,110,926 |
$741,373
$100,269 |
$1,269,284 |
| 13 |
$2,216,460 |
$780,421
$105,282 |
$1,330,757 |
| 14 |
$2,327,324 |
$821,440
$110,548 |
$1,395,336 |
| 15 |
$2,443,682 |
$864,493
$116,075 |
$1,463,114 |
| 16 |
$2,565,862 |
$909,699
$121,878 |
$1,534,285 |
| 17 |
$2,694,110 |
$957,151
$127,970 |
$1,608,989 |
| 18 |
$2,828,836 |
$1,007,000
$134,370 |
$1,687,466 |
| 19 |
$2,970,286 |
$1,059,336
$141,089 |
$1,769,861 |
| 20 |
$3,118,788 |
$1,114,282
$148,142 |
$1,856,364 |
| 21 |
$3,274,752 |
$1,171,989
$155,551 |
$1,947,212 |
| 22 |
$3,438,506 |
$1,232,578
$163,329 |
$2,042,599 |
| 23 |
$3,610,378 |
$1,296,170
$171,493 |
$2,142,715 |
| 24 |
$3,790,942 |
$1,362,979
$180,070 |
$2,247,893 |
| 25 |
$3,980,444 |
$1,433,095
$189,071 |
$2,358,278 |
| 26 |
$4,179,540 |
$1,506,760
$198,528 |
$2,474,252 |
| 27 |
$4,388,476 |
$1,584,067
$208,453 |
$2,595,956 |
| 28 |
$4,607,908 |
$1,665,256
$218,876 |
$2,723,776 |
| 29 |
$4,838,328 |
$1,750,512
$229,821 |
$2,857,995 |
| 30 |
$5,080,228 |
$1,840,015
$241,311 |
$2,998,902 |
|
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