The jackpot for the Powerball draw on Wed Apr 23, 2025, is projected to be $151 Million, with an option for a cash payout of $69.3 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York Powerball Jackpot/Cash Option for Wed Apr 23, 2025 |
|---|
| Draw Date | Wed Apr 23, 2025 | | Projected Jackpot | $151,000,000 | | Cash Value | $69,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $69,300,000 | | Federal Tax(24%) | $16,632,000 | | Additional Federal Tax | $8,969,330 | | State Tax(8.82%) | $6,112,260 | | Net Lumpsum Payment | $37,586,410 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,272,701 |
$801,230
$200,452 |
$1,271,019 |
| 2 |
$2,386,404 |
$843,300
$210,481 |
$1,332,623 |
| 3 |
$2,505,694 |
$887,437
$221,002 |
$1,397,255 |
| 4 |
$2,631,024 |
$933,809
$232,056 |
$1,465,159 |
| 5 |
$2,762,545 |
$982,472
$243,656 |
$1,536,417 |
| 6 |
$2,900,710 |
$1,033,593
$255,843 |
$1,611,274 |
| 7 |
$3,045,670 |
$1,087,228
$268,628 |
$1,689,814 |
| 8 |
$3,198,029 |
$1,143,601
$282,066 |
$1,772,362 |
| 9 |
$3,357,938 |
$1,202,767
$296,170 |
$1,859,001 |
| 10 |
$3,525,850 |
$1,264,895
$310,980 |
$1,949,975 |
| 11 |
$3,702,067 |
$1,330,095
$326,522 |
$2,045,450 |
| 12 |
$3,887,193 |
$1,398,592
$342,850 |
$2,145,751 |
| 13 |
$4,081,530 |
$1,470,496
$359,991 |
$2,251,043 |
| 14 |
$4,285,682 |
$1,546,033
$377,997 |
$2,361,652 |
| 15 |
$4,499,951 |
$1,625,312
$396,896 |
$2,477,743 |
| 16 |
$4,724,941 |
$1,708,559
$416,740 |
$2,599,642 |
| 17 |
$4,961,105 |
$1,795,939
$437,569 |
$2,727,597 |
| 18 |
$5,209,198 |
$1,887,734
$459,451 |
$2,862,013 |
| 19 |
$5,469,673 |
$1,984,109
$482,425 |
$3,003,139 |
| 20 |
$5,743,134 |
$2,085,290
$506,544 |
$3,151,300 |
| 21 |
$6,030,336 |
$2,191,555
$531,876 |
$3,306,905 |
| 22 |
$6,331,883 |
$2,303,127
$558,472 |
$3,470,284 |
| 23 |
$6,648,379 |
$2,420,231
$586,387 |
$3,641,761 |
| 24 |
$6,980,881 |
$2,543,256
$615,714 |
$3,821,911 |
| 25 |
$7,329,842 |
$2,672,372
$646,492 |
$4,010,978 |
| 26 |
$7,696,470 |
$2,808,024
$678,829 |
$4,209,617 |
| 27 |
$8,081,218 |
$2,950,381
$712,763 |
$4,418,074 |
| 28 |
$8,485,294 |
$3,099,889
$748,403 |
$4,637,002 |
| 29 |
$8,909,604 |
$3,256,884
$785,827 |
$4,866,893 |
| 30 |
$9,355,054 |
$3,421,700
$825,116 |
$5,108,238 |
|
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