Jackpot Analysis Washington Powerball

Jackpot Analysis for Washington Powerball
The jackpot for the Powerball draw on Sat Feb 15, 2025, is projected to be $172 Million, with an option for a cash payout of $79.7 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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.

Washington Powerball Jackpot/Cash Option for Sat Feb 15, 2025
Draw DateSat Feb 15, 2025
Projected Jackpot$172,000,000
Cash Value$79,700,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$79,700,000
Federal Tax(24%)$19,128,000
Additional Federal Tax$10,321,330
State Tax(0%)$0
Net Lumpsum Payment$50,250,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,588,772 $918,176
$0
$1,670,596
2 $2,718,288 $966,097
$0
$1,752,191
3 $2,854,168 $1,016,373
$0
$1,837,795
4 $2,996,928 $1,069,194
$0
$1,927,734
5 $3,146,740 $1,124,624
$0
$2,022,116
6 $3,304,120 $1,182,855
$0
$2,121,265
7 $3,469,240 $1,243,949
$0
$2,225,291
8 $3,642,788 $1,308,162
$0
$2,334,626
9 $3,824,936 $1,375,557
$0
$2,449,379
10 $4,016,200 $1,446,324
$0
$2,569,876
11 $4,216,924 $1,520,592
$0
$2,696,332
12 $4,427,796 $1,598,615
$0
$2,829,181
13 $4,649,160 $1,680,520
$0
$2,968,640
14 $4,881,704 $1,766,561
$0
$3,115,143
15 $5,125,772 $1,856,866
$0
$3,268,906
16 $5,382,052 $1,951,690
$0
$3,430,362
17 $5,651,060 $2,051,223
$0
$3,599,837
18 $5,933,656 $2,155,783
$0
$3,777,873
19 $6,230,356 $2,265,562
$0
$3,964,794
20 $6,541,848 $2,380,814
$0
$4,161,034
21 $6,868,992 $2,501,857
$0
$4,367,135
22 $7,212,476 $2,628,947
$0
$4,583,529
23 $7,572,988 $2,762,336
$0
$4,810,652
24 $7,951,732 $2,902,471
$0
$5,049,261
25 $8,349,224 $3,049,543
$0
$5,299,681
26 $8,766,840 $3,204,061
$0
$5,562,779
27 $9,205,096 $3,366,216
$0
$5,838,880
28 $9,665,368 $3,536,517
$0
$6,128,851
29 $10,148,688 $3,715,345
$0
$6,433,343
30 $10,656,088 $3,903,083
$0
$6,753,005