The jackpot for the Powerball draw on Wed Oct 22, 2025, is projected to be $320 Million, with an option for a cash payout of $152.2 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Oct 22, 2025 |
|---|
| Draw Date | Wed Oct 22, 2025 | | Projected Jackpot | $320,000,000 | | Cash Value | $152,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $152,200,000 | | Federal Tax(24%) | $36,528,000 | | Additional Federal Tax | $19,746,330 | | State Tax(4.25%) | $6,468,500 | | Net Lumpsum Payment | $89,457,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,816,320 |
$1,742,369
$204,694 |
$2,869,257 |
| 2 |
$5,057,280 |
$1,831,524
$214,934 |
$3,010,822 |
| 3 |
$5,310,080 |
$1,925,060
$225,678 |
$3,159,342 |
| 4 |
$5,575,680 |
$2,023,332
$236,966 |
$3,315,382 |
| 5 |
$5,854,400 |
$2,126,458
$248,812 |
$3,479,130 |
| 6 |
$6,147,200 |
$2,234,794
$261,256 |
$3,651,150 |
| 7 |
$6,454,400 |
$2,348,458
$274,312 |
$3,831,630 |
| 8 |
$6,777,280 |
$2,467,924
$288,034 |
$4,021,322 |
| 9 |
$7,116,160 |
$2,593,310
$302,437 |
$4,220,413 |
| 10 |
$7,472,000 |
$2,724,970
$317,560 |
$4,429,470 |
| 11 |
$7,845,440 |
$2,863,143
$333,431 |
$4,648,866 |
| 12 |
$8,237,760 |
$3,008,302
$350,105 |
$4,879,353 |
| 13 |
$8,649,600 |
$3,160,682
$367,608 |
$5,121,310 |
| 14 |
$9,082,240 |
$3,320,759
$385,995 |
$5,375,486 |
| 15 |
$9,536,320 |
$3,488,769
$405,294 |
$5,642,257 |
| 16 |
$10,013,120 |
$3,665,185
$425,558 |
$5,922,377 |
| 17 |
$10,513,600 |
$3,850,362
$446,828 |
$6,216,410 |
| 18 |
$11,039,360 |
$4,044,894
$469,173 |
$6,525,293 |
| 19 |
$11,591,360 |
$4,249,134
$492,633 |
$6,849,593 |
| 20 |
$12,170,880 |
$4,463,556
$517,262 |
$7,190,062 |
| 21 |
$12,779,520 |
$4,688,753
$543,130 |
$7,547,637 |
| 22 |
$13,418,560 |
$4,925,198
$570,289 |
$7,923,073 |
| 23 |
$14,089,280 |
$5,173,364
$598,794 |
$8,317,122 |
| 24 |
$14,793,920 |
$5,434,081
$628,742 |
$8,731,097 |
| 25 |
$15,533,440 |
$5,707,703
$660,171 |
$9,165,566 |
| 26 |
$16,310,400 |
$5,995,178
$693,192 |
$9,622,030 |
| 27 |
$17,125,760 |
$6,296,862
$727,845 |
$10,101,053 |
| 28 |
$17,982,080 |
$6,613,700
$764,238 |
$10,604,142 |
| 29 |
$18,881,280 |
$6,946,404
$802,454 |
$11,132,422 |
| 30 |
$19,825,280 |
$7,295,684
$842,574 |
$11,687,022 |
|
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