Jackpot Analysis Florida Powerball

Jackpot Analysis for Florida Powerball
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 DateMon 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