The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 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 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 Apr 26, 2025 |
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Draw Date | Sat Apr 26, 2025 | Projected Jackpot | $168,000,000 | Cash Value | $77,100,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $77,100,000 | Federal Tax(24%) | $18,504,000 | Additional Federal Tax | $9,983,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $48,612,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,528,568 |
$895,901 $0 |
$1,632,667 |
2 |
$2,655,072 |
$942,707 $0 |
$1,712,365 |
3 |
$2,787,792 |
$991,813 $0 |
$1,795,979 |
4 |
$2,927,232 |
$1,043,406 $0 |
$1,883,826 |
5 |
$3,073,560 |
$1,097,548 $0 |
$1,976,012 |
6 |
$3,227,280 |
$1,154,424 $0 |
$2,072,856 |
7 |
$3,388,560 |
$1,214,098 $0 |
$2,174,462 |
8 |
$3,558,072 |
$1,276,817 $0 |
$2,281,255 |
9 |
$3,735,984 |
$1,342,644 $0 |
$2,393,340 |
10 |
$3,922,800 |
$1,411,766 $0 |
$2,511,034 |
11 |
$4,118,856 |
$1,484,307 $0 |
$2,634,549 |
12 |
$4,324,824 |
$1,560,515 $0 |
$2,764,309 |
13 |
$4,541,040 |
$1,640,515 $0 |
$2,900,525 |
14 |
$4,768,176 |
$1,724,556 $0 |
$3,043,620 |
15 |
$5,006,568 |
$1,812,761 $0 |
$3,193,807 |
16 |
$5,256,888 |
$1,905,379 $0 |
$3,351,509 |
17 |
$5,519,640 |
$2,002,597 $0 |
$3,517,043 |
18 |
$5,795,664 |
$2,104,726 $0 |
$3,690,938 |
19 |
$6,085,464 |
$2,211,952 $0 |
$3,873,512 |
20 |
$6,389,712 |
$2,324,524 $0 |
$4,065,188 |
21 |
$6,709,248 |
$2,442,752 $0 |
$4,266,496 |
22 |
$7,044,744 |
$2,566,886 $0 |
$4,477,858 |
23 |
$7,396,872 |
$2,697,173 $0 |
$4,699,699 |
24 |
$7,766,808 |
$2,834,049 $0 |
$4,932,759 |
25 |
$8,155,056 |
$2,977,701 $0 |
$5,177,355 |
26 |
$8,562,960 |
$3,128,626 $0 |
$5,434,334 |
27 |
$8,991,024 |
$3,287,009 $0 |
$5,704,015 |
28 |
$9,440,592 |
$3,453,349 $0 |
$5,987,243 |
29 |
$9,912,672 |
$3,628,019 $0 |
$6,284,653 |
30 |
$10,408,272 |
$3,811,391 $0 |
$6,596,881 |
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