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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho 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(5.8%) | $1,177,400 | | Net Lumpsum Payment | $11,651,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$38,410 |
$418,473 |
| 2 |
$695,376 |
$217,620
$40,332 |
$437,424 |
| 3 |
$730,136 |
$230,481
$42,348 |
$457,307 |
| 4 |
$766,656 |
$243,993
$44,466 |
$478,197 |
| 5 |
$804,980 |
$258,173
$46,689 |
$500,118 |
| 6 |
$845,240 |
$273,069
$49,024 |
$523,147 |
| 7 |
$887,480 |
$288,698
$51,474 |
$547,308 |
| 8 |
$931,876 |
$305,125
$54,049 |
$572,702 |
| 9 |
$978,472 |
$322,365
$56,751 |
$599,356 |
| 10 |
$1,027,400 |
$340,468
$59,589 |
$627,343 |
| 11 |
$1,078,748 |
$359,467
$62,567 |
$656,714 |
| 12 |
$1,132,692 |
$379,426
$65,696 |
$687,570 |
| 13 |
$1,189,320 |
$400,379
$68,981 |
$719,960 |
| 14 |
$1,248,808 |
$422,389
$72,431 |
$753,988 |
| 15 |
$1,311,244 |
$445,491
$76,052 |
$789,701 |
| 16 |
$1,376,804 |
$469,748
$79,855 |
$827,201 |
| 17 |
$1,445,620 |
$495,210
$83,846 |
$866,564 |
| 18 |
$1,517,912 |
$521,958
$88,039 |
$907,915 |
| 19 |
$1,593,812 |
$550,041
$92,441 |
$951,330 |
| 20 |
$1,673,496 |
$579,524
$97,063 |
$996,909 |
| 21 |
$1,757,184 |
$610,488
$101,917 |
$1,044,779 |
| 22 |
$1,845,052 |
$643,000
$107,013 |
$1,095,039 |
| 23 |
$1,937,276 |
$677,123
$112,362 |
$1,147,791 |
| 24 |
$2,034,164 |
$712,971
$117,982 |
$1,203,211 |
| 25 |
$2,135,848 |
$750,594
$123,879 |
$1,261,375 |
| 26 |
$2,242,680 |
$790,122
$130,075 |
$1,322,483 |
| 27 |
$2,354,792 |
$831,603
$136,578 |
$1,386,611 |
| 28 |
$2,472,536 |
$875,169
$143,407 |
$1,453,960 |
| 29 |
$2,596,176 |
$920,916
$150,578 |
$1,524,682 |
| 30 |
$2,725,976 |
$968,942
$158,107 |
$1,598,927 |
|
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