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 Maine residents, the state will deduct 5% from your lottery earnings.
Maine 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(5%) | $2,670,000 | Net Lumpsum Payment | $31,011,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,776,018 |
$617,457 $88,801 |
$1,069,760 |
2 |
$1,864,872 |
$650,333 $93,244 |
$1,121,295 |
3 |
$1,958,092 |
$684,824 $97,905 |
$1,175,363 |
4 |
$2,056,032 |
$721,062 $102,802 |
$1,232,168 |
5 |
$2,158,810 |
$759,090 $107,941 |
$1,291,779 |
6 |
$2,266,780 |
$799,039 $113,339 |
$1,354,402 |
7 |
$2,380,060 |
$840,953 $119,003 |
$1,420,104 |
8 |
$2,499,122 |
$885,006 $124,956 |
$1,489,160 |
9 |
$2,624,084 |
$931,241 $131,204 |
$1,561,639 |
10 |
$2,755,300 |
$979,791 $137,765 |
$1,637,744 |
11 |
$2,893,006 |
$1,030,743 $144,650 |
$1,717,613 |
12 |
$3,037,674 |
$1,084,270 $151,884 |
$1,801,520 |
13 |
$3,189,540 |
$1,140,460 $159,477 |
$1,889,603 |
14 |
$3,349,076 |
$1,199,489 $167,454 |
$1,982,133 |
15 |
$3,516,518 |
$1,261,442 $175,826 |
$2,079,250 |
16 |
$3,692,338 |
$1,326,495 $184,617 |
$2,181,226 |
17 |
$3,876,890 |
$1,394,780 $193,845 |
$2,288,265 |
18 |
$4,070,764 |
$1,466,513 $203,538 |
$2,400,713 |
19 |
$4,274,314 |
$1,541,827 $213,716 |
$2,518,771 |
20 |
$4,488,012 |
$1,620,895 $224,401 |
$2,642,716 |
21 |
$4,712,448 |
$1,703,936 $235,622 |
$2,772,890 |
22 |
$4,948,094 |
$1,791,125 $247,405 |
$2,909,564 |
23 |
$5,195,422 |
$1,882,637 $259,771 |
$3,053,014 |
24 |
$5,455,258 |
$1,978,776 $272,763 |
$3,203,719 |
25 |
$5,727,956 |
$2,079,674 $286,398 |
$3,361,884 |
26 |
$6,014,460 |
$2,185,681 $300,723 |
$3,528,056 |
27 |
$6,315,124 |
$2,296,926 $315,756 |
$3,702,442 |
28 |
$6,630,892 |
$2,413,760 $331,545 |
$3,885,587 |
29 |
$6,962,472 |
$2,536,445 $348,124 |
$4,077,903 |
30 |
$7,310,572 |
$2,665,242 $365,529 |
$4,279,801 |
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