The jackpot for the Powerball draw on Wed Mar 26, 2025, is projected to be $484 Million, with an option for a cash payout of $228.1 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio Powerball Jackpot/Cash Option for Wed Mar 26, 2025 |
|---|
| Draw Date | Wed Mar 26, 2025 | | Projected Jackpot | $484,000,000 | | Cash Value | $228,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $228,100,000 | | Federal Tax(24%) | $54,744,000 | | Additional Federal Tax | $29,613,330 | | State Tax(3.99%) | $9,101,190 | | Net Lumpsum Payment | $134,641,480 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,284,684 |
$2,655,663
$290,659 |
$4,338,362 |
| 2 |
$7,649,136 |
$2,790,511
$305,201 |
$4,553,424 |
| 3 |
$8,031,496 |
$2,931,984
$320,457 |
$4,779,055 |
| 4 |
$8,433,216 |
$3,080,620
$336,485 |
$5,016,111 |
| 5 |
$8,854,780 |
$3,236,599
$353,306 |
$5,264,875 |
| 6 |
$9,297,640 |
$3,400,457
$370,976 |
$5,526,207 |
| 7 |
$9,762,280 |
$3,572,374
$389,515 |
$5,800,391 |
| 8 |
$10,250,636 |
$3,753,066
$409,000 |
$6,088,570 |
| 9 |
$10,763,192 |
$3,942,711
$429,451 |
$6,391,030 |
| 10 |
$11,301,400 |
$4,141,848
$450,926 |
$6,708,626 |
| 11 |
$11,866,228 |
$4,350,835
$473,462 |
$7,041,931 |
| 12 |
$12,459,612 |
$4,570,387
$497,139 |
$7,392,086 |
| 13 |
$13,082,520 |
$4,800,863
$521,993 |
$7,759,664 |
| 14 |
$13,736,888 |
$5,042,979
$548,102 |
$8,145,807 |
| 15 |
$14,423,684 |
$5,297,093
$575,505 |
$8,551,086 |
| 16 |
$15,144,844 |
$5,563,923
$604,279 |
$8,976,642 |
| 17 |
$15,901,820 |
$5,844,004
$634,483 |
$9,423,333 |
| 18 |
$16,697,032 |
$6,138,232
$666,212 |
$9,892,588 |
| 19 |
$17,531,932 |
$6,447,145
$699,524 |
$10,385,263 |
| 20 |
$18,408,456 |
$6,771,459
$734,497 |
$10,902,500 |
| 21 |
$19,329,024 |
$7,112,069
$771,228 |
$11,445,727 |
| 22 |
$20,295,572 |
$7,469,692
$809,793 |
$12,016,087 |
| 23 |
$21,310,036 |
$7,845,044
$850,270 |
$12,614,722 |
| 24 |
$22,375,804 |
$8,239,378
$892,795 |
$13,243,631 |
| 25 |
$23,494,328 |
$8,653,232
$937,424 |
$13,903,672 |
| 26 |
$24,669,480 |
$9,088,038
$984,312 |
$14,597,130 |
| 27 |
$25,902,712 |
$9,544,334
$1,033,518 |
$15,324,860 |
| 28 |
$27,197,896 |
$10,023,552
$1,085,196 |
$16,089,148 |
| 29 |
$28,557,936 |
$10,526,767
$1,139,462 |
$16,891,707 |
| 30 |
$29,985,736 |
$11,055,053
$1,196,431 |
$17,734,252 |
|
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