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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky Powerball Jackpot/Cash Option for Mon Jun 16, 2025 |
|---|
| Draw Date | Mon Jun 16, 2025 | | Projected Jackpot | $90,000,000 | | Cash Value | $40,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $40,700,000 | | Federal Tax(24%) | $9,768,000 | | Additional Federal Tax | $5,251,330 | | State Tax(4.5%) | $1,831,500 | | Net Lumpsum Payment | $23,849,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$60,957 |
$832,104 |
| 2 |
$1,422,360 |
$486,604
$64,006 |
$871,750 |
| 3 |
$1,493,460 |
$512,911
$67,206 |
$913,343 |
| 4 |
$1,568,160 |
$540,550
$70,567 |
$957,043 |
| 5 |
$1,646,550 |
$569,554
$74,095 |
$1,002,901 |
| 6 |
$1,728,900 |
$600,023
$77,801 |
$1,051,076 |
| 7 |
$1,815,300 |
$631,991
$81,689 |
$1,101,620 |
| 8 |
$1,906,110 |
$665,591
$85,775 |
$1,154,744 |
| 9 |
$2,001,420 |
$700,856
$90,064 |
$1,210,500 |
| 10 |
$2,101,500 |
$737,885
$94,568 |
$1,269,047 |
| 11 |
$2,206,530 |
$776,746
$99,294 |
$1,330,490 |
| 12 |
$2,316,870 |
$817,572
$104,259 |
$1,395,039 |
| 13 |
$2,432,700 |
$860,429
$109,472 |
$1,462,799 |
| 14 |
$2,554,380 |
$905,451
$114,947 |
$1,533,982 |
| 15 |
$2,682,090 |
$952,704
$120,694 |
$1,608,692 |
| 16 |
$2,816,190 |
$1,002,321
$126,729 |
$1,687,140 |
| 17 |
$2,956,950 |
$1,054,402
$133,063 |
$1,769,485 |
| 18 |
$3,104,820 |
$1,109,114
$139,717 |
$1,855,989 |
| 19 |
$3,260,070 |
$1,166,556
$146,703 |
$1,946,811 |
| 20 |
$3,423,060 |
$1,226,863
$154,038 |
$2,042,159 |
| 21 |
$3,594,240 |
$1,290,199
$161,741 |
$2,142,300 |
| 22 |
$3,773,970 |
$1,356,699
$169,829 |
$2,247,442 |
| 23 |
$3,962,610 |
$1,426,496
$178,317 |
$2,357,797 |
| 24 |
$4,160,790 |
$1,499,823
$187,236 |
$2,473,731 |
| 25 |
$4,368,780 |
$1,576,779
$196,595 |
$2,595,406 |
| 26 |
$4,587,300 |
$1,657,631
$206,429 |
$2,723,240 |
| 27 |
$4,816,620 |
$1,742,480
$216,748 |
$2,857,392 |
| 28 |
$5,057,460 |
$1,831,591
$227,586 |
$2,998,283 |
| 29 |
$5,310,360 |
$1,925,164
$238,966 |
$3,146,230 |
| 30 |
$5,575,860 |
$2,023,399
$250,914 |
$3,301,547 |
|
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