The jackpot for the Powerball draw on Wed Jun 4, 2025, is projected to be $30 Million, with an option for a cash payout of $13.4 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Wed Jun 4, 2025 |
|---|
| Draw Date | Wed Jun 4, 2025 | | Projected Jackpot | $30,000,000 | | Cash Value | $13,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,400,000 | | Federal Tax(24%) | $3,216,000 | | Additional Federal Tax | $1,702,330 | | State Tax(8.82%) | $1,181,880 | | Net Lumpsum Payment | $7,299,790 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$451,530 |
$127,396
$39,825 |
$284,309 |
| 2 |
$474,120 |
$135,755
$41,817 |
$296,548 |
| 3 |
$497,820 |
$144,524
$43,908 |
$309,388 |
| 4 |
$522,720 |
$153,737
$46,104 |
$322,879 |
| 5 |
$548,850 |
$163,405
$48,409 |
$337,036 |
| 6 |
$576,300 |
$173,561
$50,830 |
$351,909 |
| 7 |
$605,100 |
$184,217
$53,370 |
$367,513 |
| 8 |
$635,370 |
$195,417
$56,040 |
$383,913 |
| 9 |
$667,140 |
$207,172
$58,842 |
$401,126 |
| 10 |
$700,500 |
$219,515
$61,784 |
$419,201 |
| 11 |
$735,510 |
$232,469
$64,872 |
$438,169 |
| 12 |
$772,290 |
$246,078
$68,116 |
$458,096 |
| 13 |
$810,900 |
$260,363
$71,521 |
$479,016 |
| 14 |
$851,460 |
$275,371
$75,099 |
$500,990 |
| 15 |
$894,030 |
$291,121
$78,853 |
$524,056 |
| 16 |
$938,730 |
$307,660
$82,796 |
$548,274 |
| 17 |
$985,650 |
$325,021
$86,934 |
$573,695 |
| 18 |
$1,034,940 |
$343,258
$91,282 |
$600,400 |
| 19 |
$1,086,690 |
$362,406
$95,846 |
$628,438 |
| 20 |
$1,141,020 |
$382,508
$100,638 |
$657,874 |
| 21 |
$1,198,080 |
$403,620
$105,671 |
$688,789 |
| 22 |
$1,257,990 |
$425,787
$110,955 |
$721,248 |
| 23 |
$1,320,870 |
$449,052
$116,501 |
$755,317 |
| 24 |
$1,386,930 |
$473,494
$122,327 |
$791,109 |
| 25 |
$1,456,260 |
$499,147
$128,442 |
$828,671 |
| 26 |
$1,529,100 |
$526,097
$134,867 |
$868,136 |
| 27 |
$1,605,540 |
$554,380
$141,609 |
$909,551 |
| 28 |
$1,685,820 |
$584,084
$148,689 |
$953,047 |
| 29 |
$1,770,120 |
$615,275
$156,125 |
$998,720 |
| 30 |
$1,858,620 |
$648,020
$163,930 |
$1,046,670 |
|
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