The jackpot for the Powerball draw on Wed May 21, 2025, is projected to be $146 Million, with an option for a cash payout of $65.6 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma Powerball Jackpot/Cash Option for Wed May 21, 2025 |
|---|
| Draw Date | Wed May 21, 2025 | | Projected Jackpot | $146,000,000 | | Cash Value | $65,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $65,600,000 | | Federal Tax(24%) | $15,744,000 | | Additional Federal Tax | $8,488,330 | | State Tax(4.75%) | $3,116,000 | | Net Lumpsum Payment | $38,251,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,197,446 |
$773,385
$104,379 |
$1,319,682 |
| 2 |
$2,307,384 |
$814,062
$109,601 |
$1,383,721 |
| 3 |
$2,422,724 |
$856,738
$115,079 |
$1,450,907 |
| 4 |
$2,543,904 |
$901,575
$120,835 |
$1,521,494 |
| 5 |
$2,671,070 |
$948,626
$126,876 |
$1,595,568 |
| 6 |
$2,804,660 |
$998,055
$133,221 |
$1,673,384 |
| 7 |
$2,944,820 |
$1,049,914
$139,879 |
$1,755,027 |
| 8 |
$3,092,134 |
$1,104,420
$146,876 |
$1,840,838 |
| 9 |
$3,246,748 |
$1,161,627
$154,221 |
$1,930,900 |
| 10 |
$3,409,100 |
$1,221,697
$161,932 |
$2,025,471 |
| 11 |
$3,579,482 |
$1,284,739
$170,025 |
$2,124,718 |
| 12 |
$3,758,478 |
$1,350,967
$178,528 |
$2,228,983 |
| 13 |
$3,946,380 |
$1,420,491
$187,453 |
$2,338,436 |
| 14 |
$4,143,772 |
$1,493,526
$196,829 |
$2,453,417 |
| 15 |
$4,350,946 |
$1,570,180
$206,670 |
$2,574,096 |
| 16 |
$4,568,486 |
$1,650,670
$217,003 |
$2,700,813 |
| 17 |
$4,796,830 |
$1,735,157
$227,849 |
$2,833,824 |
| 18 |
$5,036,708 |
$1,823,912
$239,244 |
$2,973,552 |
| 19 |
$5,288,558 |
$1,917,097
$251,207 |
$3,120,254 |
| 20 |
$5,552,964 |
$2,014,927
$263,766 |
$3,274,271 |
| 21 |
$5,830,656 |
$2,117,673
$276,956 |
$3,436,027 |
| 22 |
$6,122,218 |
$2,225,551
$290,805 |
$3,605,862 |
| 23 |
$6,428,234 |
$2,338,777
$305,341 |
$3,784,116 |
| 24 |
$6,749,726 |
$2,457,729
$320,612 |
$3,971,385 |
| 25 |
$7,087,132 |
$2,582,569
$336,639 |
$4,167,924 |
| 26 |
$7,441,620 |
$2,713,730
$353,477 |
$4,374,413 |
| 27 |
$7,813,628 |
$2,851,373
$371,147 |
$4,591,108 |
| 28 |
$8,204,324 |
$2,995,930
$389,705 |
$4,818,689 |
| 29 |
$8,614,584 |
$3,147,726
$409,193 |
$5,057,665 |
| 30 |
$9,045,284 |
$3,307,085
$429,651 |
$5,308,548 |
|
|
