The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(3.15%) | $1,814,400 | | Net Lumpsum Payment | $34,513,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$60,686 |
$1,192,696 |
| 2 |
$2,022,912 |
$708,808
$63,722 |
$1,250,382 |
| 3 |
$2,124,032 |
$746,222
$66,907 |
$1,310,903 |
| 4 |
$2,230,272 |
$785,531
$70,254 |
$1,374,487 |
| 5 |
$2,341,760 |
$826,782
$73,765 |
$1,441,213 |
| 6 |
$2,458,880 |
$870,116
$77,455 |
$1,511,309 |
| 7 |
$2,581,760 |
$915,582
$81,325 |
$1,584,853 |
| 8 |
$2,710,912 |
$963,368
$85,394 |
$1,662,150 |
| 9 |
$2,846,464 |
$1,013,522
$89,664 |
$1,743,278 |
| 10 |
$2,988,800 |
$1,066,186
$94,147 |
$1,828,467 |
| 11 |
$3,138,176 |
$1,121,456
$98,853 |
$1,917,867 |
| 12 |
$3,295,104 |
$1,179,519
$103,796 |
$2,011,789 |
| 13 |
$3,459,840 |
$1,240,471
$108,985 |
$2,110,384 |
| 14 |
$3,632,896 |
$1,304,502
$114,436 |
$2,213,958 |
| 15 |
$3,814,528 |
$1,371,706
$120,158 |
$2,322,664 |
| 16 |
$4,005,248 |
$1,442,272
$126,165 |
$2,436,811 |
| 17 |
$4,205,440 |
$1,516,343
$132,471 |
$2,556,626 |
| 18 |
$4,415,744 |
$1,594,156
$139,096 |
$2,682,492 |
| 19 |
$4,636,544 |
$1,675,852
$146,051 |
$2,814,641 |
| 20 |
$4,868,352 |
$1,761,621
$153,353 |
$2,953,378 |
| 21 |
$5,111,808 |
$1,851,699
$161,022 |
$3,099,087 |
| 22 |
$5,367,424 |
$1,946,277
$169,074 |
$3,252,073 |
| 23 |
$5,635,712 |
$2,045,544
$177,525 |
$3,412,643 |
| 24 |
$5,917,568 |
$2,149,831
$186,403 |
$3,581,334 |
| 25 |
$6,213,376 |
$2,259,280
$195,721 |
$3,758,375 |
| 26 |
$6,524,160 |
$2,374,270
$205,511 |
$3,944,379 |
| 27 |
$6,850,304 |
$2,494,943
$215,785 |
$4,139,576 |
| 28 |
$7,192,832 |
$2,621,678
$226,574 |
$4,344,580 |
| 29 |
$7,552,512 |
$2,754,760
$237,904 |
$4,559,848 |
| 30 |
$7,930,112 |
$2,894,472
$249,799 |
$4,785,841 |
|
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