The jackpot for the Powerball draw on Sat May 3, 2025, is projected to be $44 Million, with an option for a cash payout of $20.3 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia Powerball Jackpot/Cash Option for Sat May 3, 2025 |
|---|
| Draw Date | Sat May 3, 2025 | | Projected Jackpot | $44,000,000 | | Cash Value | $20,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,300,000 | | Federal Tax(24%) | $4,872,000 | | Additional Federal Tax | $2,599,330 | | State Tax(5.75%) | $1,167,250 | | Net Lumpsum Payment | $11,661,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$38,079 |
$418,804 |
| 2 |
$695,376 |
$217,620
$39,984 |
$437,772 |
| 3 |
$730,136 |
$230,481
$41,983 |
$457,672 |
| 4 |
$766,656 |
$243,993
$44,083 |
$478,580 |
| 5 |
$804,980 |
$258,173
$46,286 |
$500,521 |
| 6 |
$845,240 |
$273,069
$48,601 |
$523,570 |
| 7 |
$887,480 |
$288,698
$51,030 |
$547,752 |
| 8 |
$931,876 |
$305,125
$53,583 |
$573,168 |
| 9 |
$978,472 |
$322,365
$56,262 |
$599,845 |
| 10 |
$1,027,400 |
$340,468
$59,076 |
$627,856 |
| 11 |
$1,078,748 |
$359,467
$62,028 |
$657,253 |
| 12 |
$1,132,692 |
$379,426
$65,130 |
$688,136 |
| 13 |
$1,189,320 |
$400,379
$68,386 |
$720,555 |
| 14 |
$1,248,808 |
$422,389
$71,806 |
$754,613 |
| 15 |
$1,311,244 |
$445,491
$75,397 |
$790,356 |
| 16 |
$1,376,804 |
$469,748
$79,166 |
$827,890 |
| 17 |
$1,445,620 |
$495,210
$83,123 |
$867,287 |
| 18 |
$1,517,912 |
$521,958
$87,280 |
$908,674 |
| 19 |
$1,593,812 |
$550,041
$91,644 |
$952,127 |
| 20 |
$1,673,496 |
$579,524
$96,226 |
$997,746 |
| 21 |
$1,757,184 |
$610,488
$101,038 |
$1,045,658 |
| 22 |
$1,845,052 |
$643,000
$106,090 |
$1,095,962 |
| 23 |
$1,937,276 |
$677,123
$111,393 |
$1,148,760 |
| 24 |
$2,034,164 |
$712,971
$116,964 |
$1,204,229 |
| 25 |
$2,135,848 |
$750,594
$122,811 |
$1,262,443 |
| 26 |
$2,242,680 |
$790,122
$128,954 |
$1,323,604 |
| 27 |
$2,354,792 |
$831,603
$135,401 |
$1,387,788 |
| 28 |
$2,472,536 |
$875,169
$142,171 |
$1,455,196 |
| 29 |
$2,596,176 |
$920,916
$149,280 |
$1,525,980 |
| 30 |
$2,725,976 |
$968,942
$156,744 |
$1,600,290 |
|
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