The jackpot for the Powerball draw on Wed Feb 12, 2025, is projected to be $154 Million, with an option for a cash payout of $71.4 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Wed Feb 12, 2025 |
|---|
| Draw Date | Wed Feb 12, 2025 | | Projected Jackpot | $154,000,000 | | Cash Value | $71,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $71,400,000 | | Federal Tax(24%) | $17,136,000 | | Additional Federal Tax | $9,242,330 | | State Tax(3.15%) | $2,249,100 | | Net Lumpsum Payment | $42,772,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,317,854 |
$817,936
$73,012 |
$1,426,906 |
| 2 |
$2,433,816 |
$860,842
$76,665 |
$1,496,309 |
| 3 |
$2,555,476 |
$905,857
$80,497 |
$1,569,122 |
| 4 |
$2,683,296 |
$953,150
$84,524 |
$1,645,622 |
| 5 |
$2,817,430 |
$1,002,779
$88,749 |
$1,725,902 |
| 6 |
$2,958,340 |
$1,054,916
$93,188 |
$1,810,236 |
| 7 |
$3,106,180 |
$1,109,617
$97,845 |
$1,898,718 |
| 8 |
$3,261,566 |
$1,167,110
$102,739 |
$1,991,717 |
| 9 |
$3,424,652 |
$1,227,452
$107,877 |
$2,089,323 |
| 10 |
$3,595,900 |
$1,290,813
$113,271 |
$2,191,816 |
| 11 |
$3,775,618 |
$1,357,309
$118,932 |
$2,299,377 |
| 12 |
$3,964,422 |
$1,427,167
$124,879 |
$2,412,376 |
| 13 |
$4,162,620 |
$1,500,500
$131,123 |
$2,530,997 |
| 14 |
$4,370,828 |
$1,577,537
$137,681 |
$2,655,610 |
| 15 |
$4,589,354 |
$1,658,391
$144,565 |
$2,786,398 |
| 16 |
$4,818,814 |
$1,743,292
$151,793 |
$2,923,729 |
| 17 |
$5,059,670 |
$1,832,408
$159,380 |
$3,067,882 |
| 18 |
$5,312,692 |
$1,926,026
$167,350 |
$3,219,316 |
| 19 |
$5,578,342 |
$2,024,317
$175,718 |
$3,378,307 |
| 20 |
$5,857,236 |
$2,127,508
$184,503 |
$3,545,225 |
| 21 |
$6,150,144 |
$2,235,884
$193,730 |
$3,720,530 |
| 22 |
$6,457,682 |
$2,349,673
$203,417 |
$3,904,592 |
| 23 |
$6,780,466 |
$2,469,103
$213,585 |
$4,097,778 |
| 24 |
$7,119,574 |
$2,594,573
$224,267 |
$4,300,734 |
| 25 |
$7,475,468 |
$2,726,254
$235,477 |
$4,513,737 |
| 26 |
$7,849,380 |
$2,864,601
$247,255 |
$4,737,524 |
| 27 |
$8,241,772 |
$3,009,786
$259,616 |
$4,972,370 |
| 28 |
$8,653,876 |
$3,162,265
$272,597 |
$5,219,014 |
| 29 |
$9,086,616 |
$3,322,378
$286,228 |
$5,478,010 |
| 30 |
$9,540,916 |
$3,490,469
$300,539 |
$5,749,908 |
|
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