The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(3.99%) | $1,504,230 | | Net Lumpsum Payment | $22,286,440 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$49,244 |
$767,960 |
| 2 |
$1,295,928 |
$439,824
$51,708 |
$804,396 |
| 3 |
$1,360,708 |
$463,792
$54,292 |
$842,624 |
| 4 |
$1,428,768 |
$488,975
$57,008 |
$882,785 |
| 5 |
$1,500,190 |
$515,401
$59,858 |
$924,931 |
| 6 |
$1,575,220 |
$543,162
$62,851 |
$969,207 |
| 7 |
$1,653,940 |
$572,288
$65,992 |
$1,015,660 |
| 8 |
$1,736,678 |
$602,901
$69,293 |
$1,064,484 |
| 9 |
$1,823,516 |
$635,031
$72,758 |
$1,115,727 |
| 10 |
$1,914,700 |
$668,769
$76,397 |
$1,169,534 |
| 11 |
$2,010,394 |
$704,176
$80,215 |
$1,226,003 |
| 12 |
$2,110,926 |
$741,373
$84,226 |
$1,285,327 |
| 13 |
$2,216,460 |
$780,421
$88,437 |
$1,347,602 |
| 14 |
$2,327,324 |
$821,440
$92,860 |
$1,413,024 |
| 15 |
$2,443,682 |
$864,493
$97,503 |
$1,481,686 |
| 16 |
$2,565,862 |
$909,699
$102,378 |
$1,553,785 |
| 17 |
$2,694,110 |
$957,151
$107,495 |
$1,629,464 |
| 18 |
$2,828,836 |
$1,007,000
$112,871 |
$1,708,965 |
| 19 |
$2,970,286 |
$1,059,336
$118,514 |
$1,792,436 |
| 20 |
$3,118,788 |
$1,114,282
$124,440 |
$1,880,066 |
| 21 |
$3,274,752 |
$1,171,989
$130,663 |
$1,972,100 |
| 22 |
$3,438,506 |
$1,232,578
$137,196 |
$2,068,732 |
| 23 |
$3,610,378 |
$1,296,170
$144,054 |
$2,170,154 |
| 24 |
$3,790,942 |
$1,362,979
$151,259 |
$2,276,704 |
| 25 |
$3,980,444 |
$1,433,095
$158,820 |
$2,388,529 |
| 26 |
$4,179,540 |
$1,506,760
$166,764 |
$2,506,016 |
| 27 |
$4,388,476 |
$1,584,067
$175,100 |
$2,629,309 |
| 28 |
$4,607,908 |
$1,665,256
$183,856 |
$2,758,796 |
| 29 |
$4,838,328 |
$1,750,512
$193,049 |
$2,894,767 |
| 30 |
$5,080,228 |
$1,840,015
$202,701 |
$3,037,512 |
|
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