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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
North Carolina Powerball Jackpot/Cash Option for Wed Oct 22, 2025 |
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Draw Date | Wed Oct 22, 2025 | Projected Jackpot | $320,000,000 | Cash Value | $152,200,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $152,200,000 | Federal Tax(24%) | $36,528,000 | Additional Federal Tax | $19,746,330 | State Tax(4.75%) | $7,229,500 | Net Lumpsum Payment | $88,696,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,816,320 |
$1,742,369 $228,775 |
$2,845,176 |
2 |
$5,057,280 |
$1,831,524 $240,221 |
$2,985,535 |
3 |
$5,310,080 |
$1,925,060 $252,229 |
$3,132,791 |
4 |
$5,575,680 |
$2,023,332 $264,845 |
$3,287,503 |
5 |
$5,854,400 |
$2,126,458 $278,084 |
$3,449,858 |
6 |
$6,147,200 |
$2,234,794 $291,992 |
$3,620,414 |
7 |
$6,454,400 |
$2,348,458 $306,584 |
$3,799,358 |
8 |
$6,777,280 |
$2,467,924 $321,921 |
$3,987,435 |
9 |
$7,116,160 |
$2,593,310 $338,018 |
$4,184,832 |
10 |
$7,472,000 |
$2,724,970 $354,920 |
$4,392,110 |
11 |
$7,845,440 |
$2,863,143 $372,658 |
$4,609,639 |
12 |
$8,237,760 |
$3,008,302 $391,294 |
$4,838,164 |
13 |
$8,649,600 |
$3,160,682 $410,856 |
$5,078,062 |
14 |
$9,082,240 |
$3,320,759 $431,406 |
$5,330,075 |
15 |
$9,536,320 |
$3,488,769 $452,975 |
$5,594,576 |
16 |
$10,013,120 |
$3,665,185 $475,623 |
$5,872,312 |
17 |
$10,513,600 |
$3,850,362 $499,396 |
$6,163,842 |
18 |
$11,039,360 |
$4,044,894 $524,370 |
$6,470,096 |
19 |
$11,591,360 |
$4,249,134 $550,590 |
$6,791,636 |
20 |
$12,170,880 |
$4,463,556 $578,117 |
$7,129,207 |
21 |
$12,779,520 |
$4,688,753 $607,027 |
$7,483,740 |
22 |
$13,418,560 |
$4,925,198 $637,382 |
$7,855,980 |
23 |
$14,089,280 |
$5,173,364 $669,241 |
$8,246,675 |
24 |
$14,793,920 |
$5,434,081 $702,711 |
$8,657,128 |
25 |
$15,533,440 |
$5,707,703 $737,838 |
$9,087,899 |
26 |
$16,310,400 |
$5,995,178 $774,744 |
$9,540,478 |
27 |
$17,125,760 |
$6,296,862 $813,474 |
$10,015,424 |
28 |
$17,982,080 |
$6,613,700 $854,149 |
$10,514,231 |
29 |
$18,881,280 |
$6,946,404 $896,861 |
$11,038,015 |
30 |
$19,825,280 |
$7,295,684 $941,701 |
$11,587,895 |
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