The jackpot for the Powerball draw on Mon Jun 30, 2025, is projected to be $162 Million, with an option for a cash payout of $74.2 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 California, the bright side is you won't have to pay any state taxes on your lottery prize.
California Powerball Jackpot/Cash Option for Mon Jun 30, 2025 |
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Draw Date | Mon Jun 30, 2025 | Projected Jackpot | $162,000,000 | Cash Value | $74,200,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $74,200,000 | Federal Tax(24%) | $17,808,000 | Additional Federal Tax | $9,606,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $46,785,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,438,262 |
$862,487 $0 |
$1,575,775 |
2 |
$2,560,248 |
$907,622 $0 |
$1,652,626 |
3 |
$2,688,228 |
$954,975 $0 |
$1,733,253 |
4 |
$2,822,688 |
$1,004,725 $0 |
$1,817,963 |
5 |
$2,963,790 |
$1,056,933 $0 |
$1,906,857 |
6 |
$3,112,020 |
$1,111,778 $0 |
$2,000,242 |
7 |
$3,267,540 |
$1,169,320 $0 |
$2,098,220 |
8 |
$3,430,998 |
$1,229,800 $0 |
$2,201,198 |
9 |
$3,602,556 |
$1,293,276 $0 |
$2,309,280 |
10 |
$3,782,700 |
$1,359,929 $0 |
$2,422,771 |
11 |
$3,971,754 |
$1,429,879 $0 |
$2,541,875 |
12 |
$4,170,366 |
$1,503,366 $0 |
$2,667,000 |
13 |
$4,378,860 |
$1,580,509 $0 |
$2,798,351 |
14 |
$4,597,884 |
$1,661,547 $0 |
$2,936,337 |
15 |
$4,827,762 |
$1,746,602 $0 |
$3,081,160 |
16 |
$5,069,142 |
$1,835,913 $0 |
$3,233,229 |
17 |
$5,322,510 |
$1,929,659 $0 |
$3,392,851 |
18 |
$5,588,676 |
$2,028,141 $0 |
$3,560,535 |
19 |
$5,868,126 |
$2,131,537 $0 |
$3,736,589 |
20 |
$6,161,508 |
$2,240,088 $0 |
$3,921,420 |
21 |
$6,469,632 |
$2,354,094 $0 |
$4,115,538 |
22 |
$6,793,146 |
$2,473,794 $0 |
$4,319,352 |
23 |
$7,132,698 |
$2,599,429 $0 |
$4,533,269 |
24 |
$7,489,422 |
$2,731,417 $0 |
$4,758,005 |
25 |
$7,863,804 |
$2,869,938 $0 |
$4,993,866 |
26 |
$8,257,140 |
$3,015,472 $0 |
$5,241,668 |
27 |
$8,669,916 |
$3,168,199 $0 |
$5,501,717 |
28 |
$9,103,428 |
$3,328,599 $0 |
$5,774,829 |
29 |
$9,558,648 |
$3,497,030 $0 |
$6,061,618 |
30 |
$10,036,548 |
$3,673,853 $0 |
$6,362,695 |
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