The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 those living in Tennessee, the bright side is you won't have to pay any state taxes on your lottery prize.
Tennessee Powerball Jackpot/Cash Option for Sat Aug 30, 2025 |
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Draw Date | Sat Aug 30, 2025 | Projected Jackpot | $950,000,000 | Cash Value | $428,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $428,900,000 | Federal Tax(24%) | $102,936,000 | Additional Federal Tax | $55,717,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $270,246,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$14,298,450 |
$5,250,757 $0 |
$9,047,693 |
2 |
$15,013,800 |
$5,515,436 $0 |
$9,498,364 |
3 |
$15,764,300 |
$5,793,121 $0 |
$9,971,179 |
4 |
$16,552,800 |
$6,084,866 $0 |
$10,467,934 |
5 |
$17,380,250 |
$6,391,023 $0 |
$10,989,227 |
6 |
$18,249,500 |
$6,712,645 $0 |
$11,536,855 |
7 |
$19,161,500 |
$7,050,085 $0 |
$12,111,415 |
8 |
$20,120,050 |
$7,404,749 $0 |
$12,715,301 |
9 |
$21,126,100 |
$7,776,987 $0 |
$13,349,113 |
10 |
$22,182,500 |
$8,167,855 $0 |
$14,014,645 |
11 |
$23,291,150 |
$8,578,056 $0 |
$14,713,094 |
12 |
$24,455,850 |
$9,008,995 $0 |
$15,446,855 |
13 |
$25,678,500 |
$9,461,375 $0 |
$16,217,125 |
14 |
$26,962,900 |
$9,936,603 $0 |
$17,026,297 |
15 |
$28,310,950 |
$10,435,382 $0 |
$17,875,568 |
16 |
$29,726,450 |
$10,959,117 $0 |
$18,767,333 |
17 |
$31,212,250 |
$11,508,863 $0 |
$19,703,387 |
18 |
$32,773,100 |
$12,086,377 $0 |
$20,686,723 |
19 |
$34,411,850 |
$12,692,715 $0 |
$21,719,135 |
20 |
$36,132,300 |
$13,329,281 $0 |
$22,803,019 |
21 |
$37,939,200 |
$13,997,834 $0 |
$23,941,366 |
22 |
$39,836,350 |
$14,699,780 $0 |
$25,136,570 |
23 |
$41,827,550 |
$15,436,524 $0 |
$26,391,026 |
24 |
$43,919,450 |
$16,210,527 $0 |
$27,708,923 |
25 |
$46,114,900 |
$17,022,843 $0 |
$29,092,057 |
26 |
$48,421,500 |
$17,876,285 $0 |
$30,545,215 |
27 |
$50,842,100 |
$18,771,907 $0 |
$32,070,193 |
28 |
$53,384,300 |
$19,712,521 $0 |
$33,671,779 |
29 |
$56,053,800 |
$20,700,236 $0 |
$35,353,564 |
30 |
$58,856,300 |
$21,737,161 $0 |
$37,119,139 |
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