The jackpot for the Powerball draw on Mon Jun 16, 2025, is projected to be $90 Million, with an option for a cash payout of $40.7 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
Washington DC Powerball Jackpot/Cash Option for Mon Jun 16, 2025 |
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Draw Date | Mon Jun 16, 2025 | Projected Jackpot | $90,000,000 | Cash Value | $40,700,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $40,700,000 | Federal Tax(24%) | $9,768,000 | Additional Federal Tax | $5,251,330 | State Tax(10.75%) | $4,375,250 | Net Lumpsum Payment | $21,305,420 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,354,590 |
$461,529 $145,618 |
$747,443 |
2 |
$1,422,360 |
$486,604 $152,904 |
$782,852 |
3 |
$1,493,460 |
$512,911 $160,547 |
$820,002 |
4 |
$1,568,160 |
$540,550 $168,577 |
$859,033 |
5 |
$1,646,550 |
$569,554 $177,004 |
$899,992 |
6 |
$1,728,900 |
$600,023 $185,857 |
$943,020 |
7 |
$1,815,300 |
$631,991 $195,145 |
$988,164 |
8 |
$1,906,110 |
$665,591 $204,907 |
$1,035,612 |
9 |
$2,001,420 |
$700,856 $215,153 |
$1,085,411 |
10 |
$2,101,500 |
$737,885 $225,911 |
$1,137,704 |
11 |
$2,206,530 |
$776,746 $237,202 |
$1,192,582 |
12 |
$2,316,870 |
$817,572 $249,064 |
$1,250,234 |
13 |
$2,432,700 |
$860,429 $261,515 |
$1,310,756 |
14 |
$2,554,380 |
$905,451 $274,596 |
$1,374,333 |
15 |
$2,682,090 |
$952,704 $288,325 |
$1,441,061 |
16 |
$2,816,190 |
$1,002,321 $302,740 |
$1,511,129 |
17 |
$2,956,950 |
$1,054,402 $317,872 |
$1,584,676 |
18 |
$3,104,820 |
$1,109,114 $333,768 |
$1,661,938 |
19 |
$3,260,070 |
$1,166,556 $350,458 |
$1,743,056 |
20 |
$3,423,060 |
$1,226,863 $367,979 |
$1,828,218 |
21 |
$3,594,240 |
$1,290,199 $386,381 |
$1,917,660 |
22 |
$3,773,970 |
$1,356,699 $405,702 |
$2,011,569 |
23 |
$3,962,610 |
$1,426,496 $425,981 |
$2,110,133 |
24 |
$4,160,790 |
$1,499,823 $447,285 |
$2,213,682 |
25 |
$4,368,780 |
$1,576,779 $469,644 |
$2,322,357 |
26 |
$4,587,300 |
$1,657,631 $493,135 |
$2,436,534 |
27 |
$4,816,620 |
$1,742,480 $517,787 |
$2,556,353 |
28 |
$5,057,460 |
$1,831,591 $543,677 |
$2,682,192 |
29 |
$5,310,360 |
$1,925,164 $570,864 |
$2,814,332 |
30 |
$5,575,860 |
$2,023,399 $599,405 |
$2,953,056 |
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