The jackpot for the Powerball draw on Sat May 24, 2025, is projected to be $163 Million, with an option for a cash payout of $73.3 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 Colorado residents, the state will deduct 4% from your lottery earnings.
Colorado Powerball Jackpot/Cash Option for Sat May 24, 2025 |
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Draw Date | Sat May 24, 2025 | Projected Jackpot | $163,000,000 | Cash Value | $73,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $73,300,000 | Federal Tax(24%) | $17,592,000 | Additional Federal Tax | $9,489,330 | State Tax(4%) | $2,932,000 | Net Lumpsum Payment | $43,286,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,453,313 |
$868,056 $98,133 |
$1,487,124 |
2 |
$2,576,052 |
$913,470 $103,042 |
$1,559,540 |
3 |
$2,704,822 |
$961,115 $108,193 |
$1,635,514 |
4 |
$2,840,112 |
$1,011,172 $113,604 |
$1,715,336 |
5 |
$2,982,085 |
$1,063,702 $119,283 |
$1,799,100 |
6 |
$3,131,230 |
$1,118,885 $125,249 |
$1,887,096 |
7 |
$3,287,710 |
$1,176,783 $131,508 |
$1,979,419 |
8 |
$3,452,177 |
$1,237,636 $138,087 |
$2,076,454 |
9 |
$3,624,794 |
$1,301,504 $144,992 |
$2,178,298 |
10 |
$3,806,050 |
$1,368,569 $152,242 |
$2,285,239 |
11 |
$3,996,271 |
$1,438,951 $159,851 |
$2,397,469 |
12 |
$4,196,109 |
$1,512,891 $167,844 |
$2,515,374 |
13 |
$4,405,890 |
$1,590,510 $176,236 |
$2,639,144 |
14 |
$4,626,266 |
$1,672,049 $185,051 |
$2,769,166 |
15 |
$4,857,563 |
$1,757,629 $194,303 |
$2,905,631 |
16 |
$5,100,433 |
$1,847,491 $204,017 |
$3,048,925 |
17 |
$5,355,365 |
$1,941,815 $214,215 |
$3,199,335 |
18 |
$5,623,174 |
$2,040,905 $224,927 |
$3,357,342 |
19 |
$5,904,349 |
$2,144,940 $236,174 |
$3,523,235 |
20 |
$6,199,542 |
$2,254,161 $247,982 |
$3,697,399 |
21 |
$6,509,568 |
$2,368,871 $260,383 |
$3,880,314 |
22 |
$6,835,079 |
$2,489,310 $273,403 |
$4,072,366 |
23 |
$7,176,727 |
$2,615,719 $287,069 |
$4,273,939 |
24 |
$7,535,653 |
$2,748,522 $301,426 |
$4,485,705 |
25 |
$7,912,346 |
$2,887,898 $316,494 |
$4,707,954 |
26 |
$8,308,110 |
$3,034,331 $332,324 |
$4,941,455 |
27 |
$8,723,434 |
$3,188,001 $348,937 |
$5,186,496 |
28 |
$9,159,622 |
$3,349,391 $366,385 |
$5,443,846 |
29 |
$9,617,652 |
$3,518,862 $384,706 |
$5,714,084 |
30 |
$10,098,502 |
$3,696,776 $403,940 |
$5,997,786 |
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