The jackpot for the Powerball draw on Wed Feb 12, 2025, is projected to be $154 Million, with an option for a cash payout of $71.4 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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
Pennsylvania Powerball Jackpot/Cash Option for Wed Feb 12, 2025 |
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Draw Date | Wed Feb 12, 2025 | Projected Jackpot | $154,000,000 | Cash Value | $71,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $71,400,000 | Federal Tax(24%) | $17,136,000 | Additional Federal Tax | $9,242,330 | State Tax(3.07%) | $2,191,980 | Net Lumpsum Payment | $42,829,690 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,317,854 |
$817,936 $71,158 |
$1,428,760 |
2 |
$2,433,816 |
$860,842 $74,718 |
$1,498,256 |
3 |
$2,555,476 |
$905,857 $78,453 |
$1,571,166 |
4 |
$2,683,296 |
$953,150 $82,377 |
$1,647,769 |
5 |
$2,817,430 |
$1,002,779 $86,495 |
$1,728,156 |
6 |
$2,958,340 |
$1,054,916 $90,821 |
$1,812,603 |
7 |
$3,106,180 |
$1,109,617 $95,360 |
$1,901,203 |
8 |
$3,261,566 |
$1,167,110 $100,130 |
$1,994,326 |
9 |
$3,424,652 |
$1,227,452 $105,137 |
$2,092,063 |
10 |
$3,595,900 |
$1,290,813 $110,394 |
$2,194,693 |
11 |
$3,775,618 |
$1,357,309 $115,911 |
$2,302,398 |
12 |
$3,964,422 |
$1,427,167 $121,708 |
$2,415,547 |
13 |
$4,162,620 |
$1,500,500 $127,792 |
$2,534,328 |
14 |
$4,370,828 |
$1,577,537 $134,184 |
$2,659,107 |
15 |
$4,589,354 |
$1,658,391 $140,893 |
$2,790,070 |
16 |
$4,818,814 |
$1,743,292 $147,938 |
$2,927,584 |
17 |
$5,059,670 |
$1,832,408 $155,332 |
$3,071,930 |
18 |
$5,312,692 |
$1,926,026 $163,100 |
$3,223,566 |
19 |
$5,578,342 |
$2,024,317 $171,255 |
$3,382,770 |
20 |
$5,857,236 |
$2,127,508 $179,817 |
$3,549,911 |
21 |
$6,150,144 |
$2,235,884 $188,809 |
$3,725,451 |
22 |
$6,457,682 |
$2,349,673 $198,251 |
$3,909,758 |
23 |
$6,780,466 |
$2,469,103 $208,160 |
$4,103,203 |
24 |
$7,119,574 |
$2,594,573 $218,571 |
$4,306,430 |
25 |
$7,475,468 |
$2,726,254 $229,497 |
$4,519,717 |
26 |
$7,849,380 |
$2,864,601 $240,976 |
$4,743,803 |
27 |
$8,241,772 |
$3,009,786 $253,022 |
$4,978,964 |
28 |
$8,653,876 |
$3,162,265 $265,674 |
$5,225,937 |
29 |
$9,086,616 |
$3,322,378 $278,959 |
$5,485,279 |
30 |
$9,540,916 |
$3,490,469 $292,906 |
$5,757,541 |
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