The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 Sat Aug 9, 2025 |
|---|
| Draw Date | Sat Aug 9, 2025 | | Projected Jackpot | $482,000,000 | | Cash Value | $218,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $218,900,000 | | Federal Tax(24%) | $52,536,000 | | Additional Federal Tax | $28,417,330 | | State Tax(8.82%) | $19,306,980 | | Net Lumpsum Payment | $118,639,690 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,254,582 |
$2,644,526
$639,854 |
$3,970,202 |
| 2 |
$7,617,528 |
$2,778,816
$671,866 |
$4,166,846 |
| 3 |
$7,998,308 |
$2,919,704
$705,451 |
$4,373,153 |
| 4 |
$8,398,368 |
$3,067,727
$740,736 |
$4,589,905 |
| 5 |
$8,818,190 |
$3,223,061
$777,764 |
$4,817,365 |
| 6 |
$9,259,220 |
$3,386,242
$816,663 |
$5,056,315 |
| 7 |
$9,721,940 |
$3,557,448
$857,475 |
$5,307,017 |
| 8 |
$10,208,278 |
$3,737,393
$900,370 |
$5,570,515 |
| 9 |
$10,718,716 |
$3,926,255
$945,391 |
$5,847,070 |
| 10 |
$11,254,700 |
$4,124,569
$992,665 |
$6,137,466 |
| 11 |
$11,817,194 |
$4,332,692
$1,042,277 |
$6,442,225 |
| 12 |
$12,408,126 |
$4,551,337
$1,094,397 |
$6,762,392 |
| 13 |
$13,028,460 |
$4,780,861
$1,149,110 |
$7,098,489 |
| 14 |
$13,680,124 |
$5,021,976
$1,206,587 |
$7,451,561 |
| 15 |
$14,364,082 |
$5,275,041
$1,266,912 |
$7,822,129 |
| 16 |
$15,082,262 |
$5,540,767
$1,330,256 |
$8,211,239 |
| 17 |
$15,836,110 |
$5,819,691
$1,396,745 |
$8,619,674 |
| 18 |
$16,628,036 |
$6,112,704
$1,466,593 |
$9,048,739 |
| 19 |
$17,459,486 |
$6,420,340
$1,539,927 |
$9,499,219 |
| 20 |
$18,332,388 |
$6,743,314
$1,616,917 |
$9,972,157 |
| 21 |
$19,249,152 |
$7,082,517
$1,697,775 |
$10,468,860 |
| 22 |
$20,211,706 |
$7,438,662
$1,782,672 |
$10,990,372 |
| 23 |
$21,221,978 |
$7,812,462
$1,871,778 |
$11,537,738 |
| 24 |
$22,283,342 |
$8,205,167
$1,965,391 |
$12,112,784 |
| 25 |
$23,397,244 |
$8,617,311
$2,063,637 |
$12,716,296 |
| 26 |
$24,567,540 |
$9,050,320
$2,166,857 |
$13,350,363 |
| 27 |
$25,795,676 |
$9,504,731
$2,275,179 |
$14,015,766 |
| 28 |
$27,085,508 |
$9,981,968
$2,388,942 |
$14,714,598 |
| 29 |
$28,439,928 |
$10,483,104
$2,508,402 |
$15,448,422 |
| 30 |
$29,861,828 |
$11,009,207
$2,633,813 |
$16,218,808 |
|
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