The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 Wed Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(10.75%) | $12,867,750 | | Net Lumpsum Payment | $62,582,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$427,147 |
$2,115,805 |
| 2 |
$4,172,256 |
$1,504,065
$448,518 |
$2,219,673 |
| 3 |
$4,380,816 |
$1,581,232
$470,938 |
$2,328,646 |
| 4 |
$4,599,936 |
$1,662,307
$494,493 |
$2,443,136 |
| 5 |
$4,829,880 |
$1,747,386
$519,212 |
$2,563,282 |
| 6 |
$5,071,440 |
$1,836,763
$545,180 |
$2,689,497 |
| 7 |
$5,324,880 |
$1,930,536
$572,425 |
$2,821,919 |
| 8 |
$5,591,256 |
$2,029,095
$601,060 |
$2,961,101 |
| 9 |
$5,870,832 |
$2,132,538
$631,114 |
$3,107,180 |
| 10 |
$6,164,400 |
$2,241,158
$662,673 |
$3,260,569 |
| 11 |
$6,472,488 |
$2,355,151
$695,792 |
$3,421,545 |
| 12 |
$6,796,152 |
$2,474,907
$730,586 |
$3,590,659 |
| 13 |
$7,135,920 |
$2,600,621
$767,111 |
$3,768,188 |
| 14 |
$7,492,848 |
$2,732,684
$805,481 |
$3,954,683 |
| 15 |
$7,867,464 |
$2,871,292
$845,752 |
$4,150,420 |
| 16 |
$8,260,824 |
$3,016,835
$888,039 |
$4,355,950 |
| 17 |
$8,673,720 |
$3,169,607
$932,425 |
$4,571,688 |
| 18 |
$9,107,472 |
$3,330,095
$979,053 |
$4,798,324 |
| 19 |
$9,562,872 |
$3,498,593
$1,028,009 |
$5,036,270 |
| 20 |
$10,040,976 |
$3,675,492
$1,079,405 |
$5,286,079 |
| 21 |
$10,543,104 |
$3,861,279
$1,133,384 |
$5,548,441 |
| 22 |
$11,070,312 |
$4,056,346
$1,190,059 |
$5,823,907 |
| 23 |
$11,623,656 |
$4,261,083
$1,249,543 |
$6,113,030 |
| 24 |
$12,204,984 |
$4,476,174
$1,312,036 |
$6,416,774 |
| 25 |
$12,815,088 |
$4,701,913
$1,377,622 |
$6,735,553 |
| 26 |
$13,456,080 |
$4,939,080
$1,446,529 |
$7,070,471 |
| 27 |
$14,128,752 |
$5,187,969
$1,518,841 |
$7,421,942 |
| 28 |
$14,835,216 |
$5,449,360
$1,594,786 |
$7,791,070 |
| 29 |
$15,577,056 |
$5,723,841
$1,674,534 |
$8,178,681 |
| 30 |
$16,355,856 |
$6,011,997
$1,758,255 |
$8,585,604 |
|
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