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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $2,592,000 | | Net Lumpsum Payment | $33,735,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$86,694 |
$1,166,688 |
| 2 |
$2,022,912 |
$708,808
$91,031 |
$1,223,073 |
| 3 |
$2,124,032 |
$746,222
$95,581 |
$1,282,229 |
| 4 |
$2,230,272 |
$785,531
$100,362 |
$1,344,379 |
| 5 |
$2,341,760 |
$826,782
$105,379 |
$1,409,599 |
| 6 |
$2,458,880 |
$870,116
$110,650 |
$1,478,114 |
| 7 |
$2,581,760 |
$915,582
$116,179 |
$1,549,999 |
| 8 |
$2,710,912 |
$963,368
$121,991 |
$1,625,553 |
| 9 |
$2,846,464 |
$1,013,522
$128,091 |
$1,704,851 |
| 10 |
$2,988,800 |
$1,066,186
$134,496 |
$1,788,118 |
| 11 |
$3,138,176 |
$1,121,456
$141,218 |
$1,875,502 |
| 12 |
$3,295,104 |
$1,179,519
$148,280 |
$1,967,305 |
| 13 |
$3,459,840 |
$1,240,471
$155,693 |
$2,063,676 |
| 14 |
$3,632,896 |
$1,304,502
$163,480 |
$2,164,914 |
| 15 |
$3,814,528 |
$1,371,706
$171,654 |
$2,271,168 |
| 16 |
$4,005,248 |
$1,442,272
$180,236 |
$2,382,740 |
| 17 |
$4,205,440 |
$1,516,343
$189,245 |
$2,499,852 |
| 18 |
$4,415,744 |
$1,594,156
$198,708 |
$2,622,880 |
| 19 |
$4,636,544 |
$1,675,852
$208,644 |
$2,752,048 |
| 20 |
$4,868,352 |
$1,761,621
$219,076 |
$2,887,655 |
| 21 |
$5,111,808 |
$1,851,699
$230,031 |
$3,030,078 |
| 22 |
$5,367,424 |
$1,946,277
$241,534 |
$3,179,613 |
| 23 |
$5,635,712 |
$2,045,544
$253,607 |
$3,336,561 |
| 24 |
$5,917,568 |
$2,149,831
$266,291 |
$3,501,446 |
| 25 |
$6,213,376 |
$2,259,280
$279,602 |
$3,674,494 |
| 26 |
$6,524,160 |
$2,374,270
$293,587 |
$3,856,303 |
| 27 |
$6,850,304 |
$2,494,943
$308,264 |
$4,047,097 |
| 28 |
$7,192,832 |
$2,621,678
$323,677 |
$4,247,477 |
| 29 |
$7,552,512 |
$2,754,760
$339,863 |
$4,457,889 |
| 30 |
$7,930,112 |
$2,894,472
$356,855 |
$4,678,785 |
|
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