The jackpot for the Powerball draw on Mon Aug 11, 2025, is projected to be $501 Million, with an option for a cash payout of $229.5 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Mon Aug 11, 2025 |
|---|
| Draw Date | Mon Aug 11, 2025 | | Projected Jackpot | $501,000,000 | | Cash Value | $229,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $229,500,000 | | Federal Tax(24%) | $55,080,000 | | Additional Federal Tax | $29,795,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $144,624,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,540,551 |
$2,750,334
$0 |
$4,790,217 |
| 2 |
$7,917,804 |
$2,889,918
$0 |
$5,027,886 |
| 3 |
$8,313,594 |
$3,036,360
$0 |
$5,277,234 |
| 4 |
$8,729,424 |
$3,190,217
$0 |
$5,539,207 |
| 5 |
$9,165,795 |
$3,351,675
$0 |
$5,814,120 |
| 6 |
$9,624,210 |
$3,521,288
$0 |
$6,102,922 |
| 7 |
$10,105,170 |
$3,699,243
$0 |
$6,405,927 |
| 8 |
$10,610,679 |
$3,886,282
$0 |
$6,724,397 |
| 9 |
$11,141,238 |
$4,082,588
$0 |
$7,058,650 |
| 10 |
$11,698,350 |
$4,288,720
$0 |
$7,409,630 |
| 11 |
$12,283,017 |
$4,505,047
$0 |
$7,777,970 |
| 12 |
$12,897,243 |
$4,732,310
$0 |
$8,164,933 |
| 13 |
$13,542,030 |
$4,970,881
$0 |
$8,571,149 |
| 14 |
$14,219,382 |
$5,221,502
$0 |
$8,997,880 |
| 15 |
$14,930,301 |
$5,484,542
$0 |
$9,445,759 |
| 16 |
$15,676,791 |
$5,760,743
$0 |
$9,916,048 |
| 17 |
$16,460,355 |
$6,050,662
$0 |
$10,409,693 |
| 18 |
$17,283,498 |
$6,355,225
$0 |
$10,928,273 |
| 19 |
$18,147,723 |
$6,674,988
$0 |
$11,472,735 |
| 20 |
$19,055,034 |
$7,010,693
$0 |
$12,044,341 |
| 21 |
$20,007,936 |
$7,363,267
$0 |
$12,644,669 |
| 22 |
$21,008,433 |
$7,733,451
$0 |
$13,274,982 |
| 23 |
$22,058,529 |
$8,121,986
$0 |
$13,936,543 |
| 24 |
$23,161,731 |
$8,530,171
$0 |
$14,631,560 |
| 25 |
$24,319,542 |
$8,958,561
$0 |
$15,360,981 |
| 26 |
$25,535,970 |
$9,408,639
$0 |
$16,127,331 |
| 27 |
$26,812,518 |
$9,880,962
$0 |
$16,931,556 |
| 28 |
$28,153,194 |
$10,377,012
$0 |
$17,776,182 |
| 29 |
$29,561,004 |
$10,897,902
$0 |
$18,663,102 |
| 30 |
$31,038,954 |
$11,444,743
$0 |
$19,594,211 |
|
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