The jackpot for the Powerball draw on Wed Apr 30, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 New York residents, the state will deduct 8.82% from your lottery earnings.
New York Powerball Jackpot/Cash Option for Wed Apr 30, 2025 |
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Draw Date | Wed Apr 30, 2025 | Projected Jackpot | $30,000,000 | Cash Value | $13,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $13,900,000 | Federal Tax(24%) | $3,336,000 | Additional Federal Tax | $1,767,330 | State Tax(8.82%) | $1,225,980 | Net Lumpsum Payment | $7,570,690 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$451,530 |
$127,396 $39,825 |
$284,309 |
2 |
$474,120 |
$135,755 $41,817 |
$296,548 |
3 |
$497,820 |
$144,524 $43,908 |
$309,388 |
4 |
$522,720 |
$153,737 $46,104 |
$322,879 |
5 |
$548,850 |
$163,405 $48,409 |
$337,036 |
6 |
$576,300 |
$173,561 $50,830 |
$351,909 |
7 |
$605,100 |
$184,217 $53,370 |
$367,513 |
8 |
$635,370 |
$195,417 $56,040 |
$383,913 |
9 |
$667,140 |
$207,172 $58,842 |
$401,126 |
10 |
$700,500 |
$219,515 $61,784 |
$419,201 |
11 |
$735,510 |
$232,469 $64,872 |
$438,169 |
12 |
$772,290 |
$246,078 $68,116 |
$458,096 |
13 |
$810,900 |
$260,363 $71,521 |
$479,016 |
14 |
$851,460 |
$275,371 $75,099 |
$500,990 |
15 |
$894,030 |
$291,121 $78,853 |
$524,056 |
16 |
$938,730 |
$307,660 $82,796 |
$548,274 |
17 |
$985,650 |
$325,021 $86,934 |
$573,695 |
18 |
$1,034,940 |
$343,258 $91,282 |
$600,400 |
19 |
$1,086,690 |
$362,406 $95,846 |
$628,438 |
20 |
$1,141,020 |
$382,508 $100,638 |
$657,874 |
21 |
$1,198,080 |
$403,620 $105,671 |
$688,789 |
22 |
$1,257,990 |
$425,787 $110,955 |
$721,248 |
23 |
$1,320,870 |
$449,052 $116,501 |
$755,317 |
24 |
$1,386,930 |
$473,494 $122,327 |
$791,109 |
25 |
$1,456,260 |
$499,147 $128,442 |
$828,671 |
26 |
$1,529,100 |
$526,097 $134,867 |
$868,136 |
27 |
$1,605,540 |
$554,380 $141,609 |
$909,551 |
28 |
$1,685,820 |
$584,084 $148,689 |
$953,047 |
29 |
$1,770,120 |
$615,275 $156,125 |
$998,720 |
30 |
$1,858,620 |
$648,020 $163,930 |
$1,046,670 |
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