The jackpot for the Powerball draw on Mon Mar 10, 2025, is projected to be $335 Million, with an option for a cash payout of $157.3 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 Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Mon Mar 10, 2025 |
|---|
| Draw Date | Mon Mar 10, 2025 | | Projected Jackpot | $335,000,000 | | Cash Value | $157,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $157,300,000 | | Federal Tax(24%) | $37,752,000 | | Additional Federal Tax | $20,409,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $99,138,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,042,085 |
$1,825,902
$0 |
$3,216,183 |
| 2 |
$5,294,340 |
$1,919,236
$0 |
$3,375,104 |
| 3 |
$5,558,990 |
$2,017,157
$0 |
$3,541,833 |
| 4 |
$5,837,040 |
$2,120,035
$0 |
$3,717,005 |
| 5 |
$6,128,825 |
$2,227,996
$0 |
$3,900,829 |
| 6 |
$6,435,350 |
$2,341,410
$0 |
$4,093,940 |
| 7 |
$6,756,950 |
$2,460,402
$0 |
$4,296,548 |
| 8 |
$7,094,965 |
$2,585,467
$0 |
$4,509,498 |
| 9 |
$7,449,730 |
$2,716,730
$0 |
$4,733,000 |
| 10 |
$7,822,250 |
$2,854,563
$0 |
$4,967,687 |
| 11 |
$8,213,195 |
$2,999,213
$0 |
$5,213,982 |
| 12 |
$8,623,905 |
$3,151,175
$0 |
$5,472,730 |
| 13 |
$9,055,050 |
$3,310,699
$0 |
$5,744,351 |
| 14 |
$9,507,970 |
$3,478,279
$0 |
$6,029,691 |
| 15 |
$9,983,335 |
$3,654,164
$0 |
$6,329,171 |
| 16 |
$10,482,485 |
$3,838,850
$0 |
$6,643,635 |
| 17 |
$11,006,425 |
$4,032,708
$0 |
$6,973,717 |
| 18 |
$11,556,830 |
$4,236,357
$0 |
$7,320,473 |
| 19 |
$12,134,705 |
$4,450,171
$0 |
$7,684,534 |
| 20 |
$12,741,390 |
$4,674,645
$0 |
$8,066,745 |
| 21 |
$13,378,560 |
$4,910,398
$0 |
$8,468,162 |
| 22 |
$14,047,555 |
$5,157,926
$0 |
$8,889,629 |
| 23 |
$14,749,715 |
$5,417,725
$0 |
$9,331,990 |
| 24 |
$15,487,385 |
$5,690,663
$0 |
$9,796,722 |
| 25 |
$16,261,570 |
$5,977,111
$0 |
$10,284,459 |
| 26 |
$17,074,950 |
$6,278,062
$0 |
$10,796,888 |
| 27 |
$17,928,530 |
$6,593,886
$0 |
$11,334,644 |
| 28 |
$18,824,990 |
$6,925,577
$0 |
$11,899,413 |
| 29 |
$19,766,340 |
$7,273,876
$0 |
$12,492,464 |
| 30 |
$20,754,590 |
$7,639,529
$0 |
$13,115,061 |
|
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