The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 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 Sat Jul 5, 2025 |
|---|
| Draw Date | Sat Jul 5, 2025 | | Projected Jackpot | $190,000,000 | | Cash Value | $87,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,000,000 | | Federal Tax(24%) | $20,880,000 | | Additional Federal Tax | $11,270,330 | | State Tax(4.25%) | $3,697,500 | | Net Lumpsum Payment | $51,152,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,859,690 |
$1,018,416
$121,537 |
$1,719,737 |
| 2 |
$3,002,760 |
$1,071,352
$127,617 |
$1,803,791 |
| 3 |
$3,152,860 |
$1,126,889
$133,997 |
$1,891,974 |
| 4 |
$3,310,560 |
$1,185,238
$140,699 |
$1,984,623 |
| 5 |
$3,476,050 |
$1,246,469
$147,732 |
$2,081,849 |
| 6 |
$3,649,900 |
$1,310,793
$155,121 |
$2,183,986 |
| 7 |
$3,832,300 |
$1,378,281
$162,873 |
$2,291,146 |
| 8 |
$4,024,010 |
$1,449,214
$171,020 |
$2,403,776 |
| 9 |
$4,225,220 |
$1,523,662
$179,572 |
$2,521,986 |
| 10 |
$4,436,500 |
$1,601,835
$188,551 |
$2,646,114 |
| 11 |
$4,658,230 |
$1,683,875
$197,975 |
$2,776,380 |
| 12 |
$4,891,170 |
$1,770,063
$207,875 |
$2,913,232 |
| 13 |
$5,135,700 |
$1,860,539
$218,267 |
$3,056,894 |
| 14 |
$5,392,580 |
$1,955,585
$229,185 |
$3,207,810 |
| 15 |
$5,662,190 |
$2,055,341
$240,643 |
$3,366,206 |
| 16 |
$5,945,290 |
$2,160,088
$252,675 |
$3,532,527 |
| 17 |
$6,242,450 |
$2,270,037
$265,304 |
$3,707,109 |
| 18 |
$6,554,620 |
$2,385,540
$278,571 |
$3,890,509 |
| 19 |
$6,882,370 |
$2,506,807
$292,501 |
$4,083,062 |
| 20 |
$7,226,460 |
$2,634,121
$307,125 |
$4,285,214 |
| 21 |
$7,587,840 |
$2,767,831
$322,483 |
$4,497,526 |
| 22 |
$7,967,270 |
$2,908,220
$338,609 |
$4,720,441 |
| 23 |
$8,365,510 |
$3,055,569
$355,534 |
$4,954,407 |
| 24 |
$8,783,890 |
$3,210,370
$373,315 |
$5,200,205 |
| 25 |
$9,222,980 |
$3,372,833
$391,977 |
$5,458,170 |
| 26 |
$9,684,300 |
$3,543,521
$411,583 |
$5,729,196 |
| 27 |
$10,168,420 |
$3,722,646
$432,158 |
$6,013,616 |
| 28 |
$10,676,860 |
$3,910,769
$453,767 |
$6,312,324 |
| 29 |
$11,210,760 |
$4,108,312
$476,457 |
$6,625,991 |
| 30 |
$11,771,260 |
$4,315,697
$500,279 |
$6,955,284 |
|
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