The jackpot for the Powerball draw on Mon Jul 7, 2025, is projected to be $203 Million, with an option for a cash payout of $92.5 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 Massachusetts residents, the state will deduct 5% from your lottery earnings.
Massachusetts Powerball Jackpot/Cash Option for Mon Jul 7, 2025 |
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Draw Date | Mon Jul 7, 2025 | Projected Jackpot | $203,000,000 | Cash Value | $92,500,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $92,500,000 | Federal Tax(24%) | $22,200,000 | Additional Federal Tax | $11,985,330 | State Tax(5%) | $4,625,000 | Net Lumpsum Payment | $53,689,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$3,055,353 |
$1,090,811 $152,768 |
$1,811,774 |
2 |
$3,208,212 |
$1,147,369 $160,411 |
$1,900,432 |
3 |
$3,368,582 |
$1,206,706 $168,429 |
$1,993,447 |
4 |
$3,537,072 |
$1,269,047 $176,854 |
$2,091,171 |
5 |
$3,713,885 |
$1,334,468 $185,694 |
$2,193,723 |
6 |
$3,899,630 |
$1,403,193 $194,982 |
$2,301,455 |
7 |
$4,094,510 |
$1,475,299 $204,726 |
$2,414,485 |
8 |
$4,299,337 |
$1,551,085 $214,967 |
$2,533,285 |
9 |
$4,514,314 |
$1,630,627 $225,716 |
$2,657,971 |
10 |
$4,740,050 |
$1,714,149 $237,003 |
$2,788,898 |
11 |
$4,976,951 |
$1,801,802 $248,848 |
$2,926,301 |
12 |
$5,225,829 |
$1,893,887 $261,291 |
$3,070,651 |
13 |
$5,487,090 |
$1,990,554 $274,355 |
$3,222,181 |
14 |
$5,761,546 |
$2,092,102 $288,077 |
$3,381,367 |
15 |
$6,049,603 |
$2,198,683 $302,480 |
$3,548,440 |
16 |
$6,352,073 |
$2,310,597 $317,604 |
$3,723,872 |
17 |
$6,669,565 |
$2,428,069 $333,478 |
$3,908,018 |
18 |
$7,003,094 |
$2,551,475 $350,155 |
$4,101,464 |
19 |
$7,353,269 |
$2,681,040 $367,663 |
$4,304,566 |
20 |
$7,720,902 |
$2,817,064 $386,045 |
$4,517,793 |
21 |
$8,107,008 |
$2,959,923 $405,350 |
$4,741,735 |
22 |
$8,512,399 |
$3,109,918 $425,620 |
$4,976,861 |
23 |
$8,937,887 |
$3,267,349 $446,894 |
$5,223,644 |
24 |
$9,384,893 |
$3,432,741 $469,245 |
$5,482,907 |
25 |
$9,854,026 |
$3,606,320 $492,701 |
$5,755,005 |
26 |
$10,346,910 |
$3,788,687 $517,346 |
$6,040,877 |
27 |
$10,864,154 |
$3,980,067 $543,208 |
$6,340,879 |
28 |
$11,407,382 |
$4,181,062 $570,369 |
$6,655,951 |
29 |
$11,977,812 |
$4,392,121 $598,891 |
$6,986,800 |
30 |
$12,576,662 |
$4,613,695 $628,833 |
$7,334,134 |
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