The jackpot for the Powerball draw on Mon Mar 3, 2025, is projected to be $279 Million, with an option for a cash payout of $131.5 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 Mon Mar 3, 2025 |
|---|
| Draw Date | Mon Mar 3, 2025 | | Projected Jackpot | $279,000,000 | | Cash Value | $131,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $131,500,000 | | Federal Tax(24%) | $31,560,000 | | Additional Federal Tax | $17,055,330 | | State Tax(8.82%) | $11,598,300 | | Net Lumpsum Payment | $71,286,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,199,229 |
$1,514,045
$370,372 |
$2,314,812 |
| 2 |
$4,409,316 |
$1,591,777
$388,902 |
$2,428,637 |
| 3 |
$4,629,726 |
$1,673,329
$408,342 |
$2,548,055 |
| 4 |
$4,861,296 |
$1,759,010
$428,766 |
$2,673,520 |
| 5 |
$5,104,305 |
$1,848,923
$450,200 |
$2,805,182 |
| 6 |
$5,359,590 |
$1,943,379
$472,716 |
$2,943,495 |
| 7 |
$5,627,430 |
$2,042,479
$496,339 |
$3,088,612 |
| 8 |
$5,908,941 |
$2,146,639
$521,169 |
$3,241,133 |
| 9 |
$6,204,402 |
$2,255,959
$547,228 |
$3,401,215 |
| 10 |
$6,514,650 |
$2,370,751
$574,592 |
$3,569,307 |
| 11 |
$6,840,243 |
$2,491,220
$603,309 |
$3,745,714 |
| 12 |
$7,182,297 |
$2,617,780
$633,479 |
$3,931,038 |
| 13 |
$7,541,370 |
$2,750,637
$665,149 |
$4,125,584 |
| 14 |
$7,918,578 |
$2,890,204
$698,419 |
$4,329,955 |
| 15 |
$8,314,479 |
$3,036,688
$733,337 |
$4,544,454 |
| 16 |
$8,730,189 |
$3,190,500
$770,003 |
$4,769,686 |
| 17 |
$9,166,545 |
$3,351,952
$808,489 |
$5,006,104 |
| 18 |
$9,624,942 |
$3,521,559
$848,920 |
$5,254,463 |
| 19 |
$10,106,217 |
$3,699,631
$891,368 |
$5,515,218 |
| 20 |
$10,611,486 |
$3,886,580
$935,933 |
$5,788,973 |
| 21 |
$11,142,144 |
$4,082,924
$982,737 |
$6,076,483 |
| 22 |
$11,699,307 |
$4,289,074
$1,031,879 |
$6,378,354 |
| 23 |
$12,284,091 |
$4,505,444
$1,083,457 |
$6,695,190 |
| 24 |
$12,898,449 |
$4,732,757
$1,137,643 |
$7,028,049 |
| 25 |
$13,543,218 |
$4,971,321
$1,194,512 |
$7,377,385 |
| 26 |
$14,220,630 |
$5,221,963
$1,254,260 |
$7,744,407 |
| 27 |
$14,931,522 |
$5,484,994
$1,316,960 |
$8,129,568 |
| 28 |
$15,678,126 |
$5,761,237
$1,382,811 |
$8,534,078 |
| 29 |
$16,462,116 |
$6,051,313
$1,451,959 |
$8,958,844 |
| 30 |
$17,285,166 |
$6,355,842
$1,524,552 |
$9,404,772 |
|
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