The jackpot for the Powerball draw on Sat Jun 21, 2025, is projected to be $118 Million, with an option for a cash payout of $53.4 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 Sat Jun 21, 2025 |
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Draw Date | Sat Jun 21, 2025 | Projected Jackpot | $118,000,000 | Cash Value | $53,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $53,400,000 | Federal Tax(24%) | $12,816,000 | Additional Federal Tax | $6,902,330 | State Tax(10.75%) | $5,740,500 | Net Lumpsum Payment | $27,941,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,776,018 |
$617,457 $190,922 |
$967,639 |
2 |
$1,864,872 |
$650,333 $200,474 |
$1,014,065 |
3 |
$1,958,092 |
$684,824 $210,495 |
$1,062,773 |
4 |
$2,056,032 |
$721,062 $221,023 |
$1,113,947 |
5 |
$2,158,810 |
$759,090 $232,072 |
$1,167,648 |
6 |
$2,266,780 |
$799,039 $243,679 |
$1,224,062 |
7 |
$2,380,060 |
$840,953 $255,856 |
$1,283,251 |
8 |
$2,499,122 |
$885,006 $268,656 |
$1,345,460 |
9 |
$2,624,084 |
$931,241 $282,089 |
$1,410,754 |
10 |
$2,755,300 |
$979,791 $296,195 |
$1,479,314 |
11 |
$2,893,006 |
$1,030,743 $310,998 |
$1,551,265 |
12 |
$3,037,674 |
$1,084,270 $326,550 |
$1,626,854 |
13 |
$3,189,540 |
$1,140,460 $342,876 |
$1,706,204 |
14 |
$3,349,076 |
$1,199,489 $360,026 |
$1,789,561 |
15 |
$3,516,518 |
$1,261,442 $378,026 |
$1,877,050 |
16 |
$3,692,338 |
$1,326,495 $396,926 |
$1,968,917 |
17 |
$3,876,890 |
$1,394,780 $416,766 |
$2,065,344 |
18 |
$4,070,764 |
$1,466,513 $437,607 |
$2,166,644 |
19 |
$4,274,314 |
$1,541,827 $459,489 |
$2,272,998 |
20 |
$4,488,012 |
$1,620,895 $482,461 |
$2,384,656 |
21 |
$4,712,448 |
$1,703,936 $506,588 |
$2,501,924 |
22 |
$4,948,094 |
$1,791,125 $531,920 |
$2,625,049 |
23 |
$5,195,422 |
$1,882,637 $558,508 |
$2,754,277 |
24 |
$5,455,258 |
$1,978,776 $586,440 |
$2,890,042 |
25 |
$5,727,956 |
$2,079,674 $615,755 |
$3,032,527 |
26 |
$6,014,460 |
$2,185,681 $646,554 |
$3,182,225 |
27 |
$6,315,124 |
$2,296,926 $678,876 |
$3,339,322 |
28 |
$6,630,892 |
$2,413,760 $712,821 |
$3,504,311 |
29 |
$6,962,472 |
$2,536,445 $748,466 |
$3,677,561 |
30 |
$7,310,572 |
$2,665,242 $785,886 |
$3,859,444 |
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