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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $639,450 | | Net Lumpsum Payment | $12,189,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$20,861 |
$436,022 |
| 2 |
$695,376 |
$217,620
$21,904 |
$455,852 |
| 3 |
$730,136 |
$230,481
$22,999 |
$476,656 |
| 4 |
$766,656 |
$243,993
$24,150 |
$498,513 |
| 5 |
$804,980 |
$258,173
$25,357 |
$521,450 |
| 6 |
$845,240 |
$273,069
$26,625 |
$545,546 |
| 7 |
$887,480 |
$288,698
$27,956 |
$570,826 |
| 8 |
$931,876 |
$305,125
$29,354 |
$597,397 |
| 9 |
$978,472 |
$322,365
$30,822 |
$625,285 |
| 10 |
$1,027,400 |
$340,468
$32,363 |
$654,569 |
| 11 |
$1,078,748 |
$359,467
$33,981 |
$685,300 |
| 12 |
$1,132,692 |
$379,426
$35,680 |
$717,586 |
| 13 |
$1,189,320 |
$400,379
$37,464 |
$751,477 |
| 14 |
$1,248,808 |
$422,389
$39,337 |
$787,082 |
| 15 |
$1,311,244 |
$445,491
$41,304 |
$824,449 |
| 16 |
$1,376,804 |
$469,748
$43,369 |
$863,687 |
| 17 |
$1,445,620 |
$495,210
$45,537 |
$904,873 |
| 18 |
$1,517,912 |
$521,958
$47,814 |
$948,140 |
| 19 |
$1,593,812 |
$550,041
$50,205 |
$993,566 |
| 20 |
$1,673,496 |
$579,524
$52,715 |
$1,041,257 |
| 21 |
$1,757,184 |
$610,488
$55,351 |
$1,091,345 |
| 22 |
$1,845,052 |
$643,000
$58,119 |
$1,143,933 |
| 23 |
$1,937,276 |
$677,123
$61,024 |
$1,199,129 |
| 24 |
$2,034,164 |
$712,971
$64,076 |
$1,257,117 |
| 25 |
$2,135,848 |
$750,594
$67,279 |
$1,317,975 |
| 26 |
$2,242,680 |
$790,122
$70,644 |
$1,381,914 |
| 27 |
$2,354,792 |
$831,603
$74,176 |
$1,449,013 |
| 28 |
$2,472,536 |
$875,169
$77,885 |
$1,519,482 |
| 29 |
$2,596,176 |
$920,916
$81,780 |
$1,593,480 |
| 30 |
$2,725,976 |
$968,942
$85,868 |
$1,671,166 |
|
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