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 Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas Powerball Jackpot/Cash Option for Sat Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| 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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