The jackpot for the Powerball draw on Wed Oct 15, 2025, is projected to be $273 Million, with an option for a cash payout of $127.8 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 Wed Oct 15, 2025 |
|---|
| Draw Date | Wed Oct 15, 2025 | | Projected Jackpot | $273,000,000 | | Cash Value | $127,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $127,800,000 | | Federal Tax(24%) | $30,672,000 | | Additional Federal Tax | $16,574,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $80,553,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,108,923 |
$1,480,632
$0 |
$2,628,291 |
| 2 |
$4,314,492 |
$1,556,692
$0 |
$2,757,800 |
| 3 |
$4,530,162 |
$1,636,490
$0 |
$2,893,672 |
| 4 |
$4,756,752 |
$1,720,329
$0 |
$3,036,423 |
| 5 |
$4,994,535 |
$1,808,308
$0 |
$3,186,227 |
| 6 |
$5,244,330 |
$1,900,732
$0 |
$3,343,598 |
| 7 |
$5,506,410 |
$1,997,702
$0 |
$3,508,708 |
| 8 |
$5,781,867 |
$2,099,621
$0 |
$3,682,246 |
| 9 |
$6,070,974 |
$2,206,591
$0 |
$3,864,383 |
| 10 |
$6,374,550 |
$2,318,914
$0 |
$4,055,636 |
| 11 |
$6,693,141 |
$2,436,793
$0 |
$4,256,348 |
| 12 |
$7,027,839 |
$2,560,631
$0 |
$4,467,208 |
| 13 |
$7,379,190 |
$2,690,631
$0 |
$4,688,559 |
| 14 |
$7,748,286 |
$2,827,196
$0 |
$4,921,090 |
| 15 |
$8,135,673 |
$2,970,529
$0 |
$5,165,144 |
| 16 |
$8,542,443 |
$3,121,034
$0 |
$5,421,409 |
| 17 |
$8,969,415 |
$3,279,014
$0 |
$5,690,401 |
| 18 |
$9,417,954 |
$3,444,973
$0 |
$5,972,981 |
| 19 |
$9,888,879 |
$3,619,216
$0 |
$6,269,663 |
| 20 |
$10,383,282 |
$3,802,145
$0 |
$6,581,137 |
| 21 |
$10,902,528 |
$3,994,266
$0 |
$6,908,262 |
| 22 |
$11,447,709 |
$4,195,983
$0 |
$7,251,726 |
| 23 |
$12,019,917 |
$4,407,700
$0 |
$7,612,217 |
| 24 |
$12,621,063 |
$4,630,124
$0 |
$7,990,939 |
| 25 |
$13,251,966 |
$4,863,558
$0 |
$8,388,408 |
| 26 |
$13,914,810 |
$5,108,810
$0 |
$8,806,000 |
| 27 |
$14,610,414 |
$5,366,184
$0 |
$9,244,230 |
| 28 |
$15,340,962 |
$5,636,486
$0 |
$9,704,476 |
| 29 |
$16,108,092 |
$5,920,324
$0 |
$10,187,768 |
| 30 |
$16,913,442 |
$6,218,304
$0 |
$10,695,138 |
|
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