The jackpot for the Powerball draw on Mon May 19, 2025, is projected to be $134 Million, with an option for a cash payout of $60.3 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida Powerball Jackpot/Cash Option for Mon May 19, 2025 |
|---|
| Draw Date | Mon May 19, 2025 | | Projected Jackpot | $134,000,000 | | Cash Value | $60,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $60,300,000 | | Federal Tax(24%) | $14,472,000 | | Additional Federal Tax | $7,799,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $38,028,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,016,834 |
$706,559
$0 |
$1,310,275 |
| 2 |
$2,117,736 |
$743,893
$0 |
$1,373,843 |
| 3 |
$2,223,596 |
$783,061
$0 |
$1,440,535 |
| 4 |
$2,334,816 |
$824,212
$0 |
$1,510,604 |
| 5 |
$2,451,530 |
$867,396
$0 |
$1,584,134 |
| 6 |
$2,574,140 |
$912,762
$0 |
$1,661,378 |
| 7 |
$2,702,780 |
$960,359
$0 |
$1,742,421 |
| 8 |
$2,837,986 |
$1,010,385
$0 |
$1,827,601 |
| 9 |
$2,979,892 |
$1,062,890
$0 |
$1,917,002 |
| 10 |
$3,128,900 |
$1,118,023
$0 |
$2,010,877 |
| 11 |
$3,285,278 |
$1,175,883
$0 |
$2,109,395 |
| 12 |
$3,449,562 |
$1,236,668
$0 |
$2,212,894 |
| 13 |
$3,622,020 |
$1,300,478
$0 |
$2,321,542 |
| 14 |
$3,803,188 |
$1,367,510
$0 |
$2,435,678 |
| 15 |
$3,993,334 |
$1,437,864
$0 |
$2,555,470 |
| 16 |
$4,192,994 |
$1,511,738
$0 |
$2,681,256 |
| 17 |
$4,402,570 |
$1,589,281
$0 |
$2,813,289 |
| 18 |
$4,622,732 |
$1,670,741
$0 |
$2,951,991 |
| 19 |
$4,853,882 |
$1,756,267
$0 |
$3,097,615 |
| 20 |
$5,096,556 |
$1,846,056
$0 |
$3,250,500 |
| 21 |
$5,351,424 |
$1,940,357
$0 |
$3,411,067 |
| 22 |
$5,619,022 |
$2,039,369
$0 |
$3,579,653 |
| 23 |
$5,899,886 |
$2,143,288
$0 |
$3,756,598 |
| 24 |
$6,194,954 |
$2,252,463
$0 |
$3,942,491 |
| 25 |
$6,504,628 |
$2,367,043
$0 |
$4,137,585 |
| 26 |
$6,829,980 |
$2,487,423
$0 |
$4,342,557 |
| 27 |
$7,171,412 |
$2,613,753
$0 |
$4,557,659 |
| 28 |
$7,529,996 |
$2,746,429
$0 |
$4,783,567 |
| 29 |
$7,906,536 |
$2,885,749
$0 |
$5,020,787 |
| 30 |
$8,301,836 |
$3,032,010
$0 |
$5,269,826 |
|
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