The jackpot for the Powerball draw on Mon Jul 14, 2025, is projected to be $248 Million, with an option for a cash payout of $112.4 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
North Carolina Powerball Jackpot/Cash Option for Mon Jul 14, 2025 |
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Draw Date | Mon Jul 14, 2025 | Projected Jackpot | $248,000,000 | Cash Value | $112,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $112,400,000 | Federal Tax(24%) | $26,976,000 | Additional Federal Tax | $14,572,330 | State Tax(4.75%) | $5,339,000 | Net Lumpsum Payment | $65,512,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$3,732,648 |
$1,341,410 $177,301 |
$2,213,937 |
2 |
$3,919,392 |
$1,410,505 $186,171 |
$2,322,716 |
3 |
$4,115,312 |
$1,482,996 $195,477 |
$2,436,839 |
4 |
$4,321,152 |
$1,559,157 $205,255 |
$2,556,740 |
5 |
$4,537,160 |
$1,639,080 $215,515 |
$2,682,565 |
6 |
$4,764,080 |
$1,723,040 $226,294 |
$2,814,746 |
7 |
$5,002,160 |
$1,811,130 $237,603 |
$2,953,427 |
8 |
$5,252,392 |
$1,903,715 $249,489 |
$3,099,188 |
9 |
$5,515,024 |
$2,000,889 $261,964 |
$3,252,171 |
10 |
$5,790,800 |
$2,102,926 $275,063 |
$3,412,811 |
11 |
$6,080,216 |
$2,210,010 $288,810 |
$3,581,396 |
12 |
$6,384,264 |
$2,322,508 $303,253 |
$3,758,503 |
13 |
$6,703,440 |
$2,440,603 $318,413 |
$3,944,424 |
14 |
$7,038,736 |
$2,564,663 $334,340 |
$4,139,733 |
15 |
$7,390,648 |
$2,694,870 $351,056 |
$4,344,722 |
16 |
$7,760,168 |
$2,831,593 $368,608 |
$4,559,967 |
17 |
$8,148,040 |
$2,975,105 $387,032 |
$4,785,903 |
18 |
$8,555,504 |
$3,125,867 $406,386 |
$5,023,251 |
19 |
$8,983,304 |
$3,284,153 $426,707 |
$5,272,444 |
20 |
$9,432,432 |
$3,450,330 $448,041 |
$5,534,061 |
21 |
$9,904,128 |
$3,624,858 $470,446 |
$5,808,824 |
22 |
$10,399,384 |
$3,808,102 $493,971 |
$6,097,311 |
23 |
$10,919,192 |
$4,000,431 $518,662 |
$6,400,099 |
24 |
$11,465,288 |
$4,202,487 $544,601 |
$6,718,200 |
25 |
$12,038,416 |
$4,414,544 $571,825 |
$7,052,047 |
26 |
$12,640,560 |
$4,637,338 $600,427 |
$7,402,795 |
27 |
$13,272,464 |
$4,871,142 $630,442 |
$7,770,880 |
28 |
$13,936,112 |
$5,116,692 $661,965 |
$8,157,455 |
29 |
$14,632,992 |
$5,374,537 $695,067 |
$8,563,388 |
30 |
$15,364,592 |
$5,645,229 $729,818 |
$8,989,545 |
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