The jackpot for the Powerball draw on Wed Dec 17, 2025, is projected to be $1.25 Billion, with an option for a cash payout of $572.1 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Wed Dec 17, 2025 |
|---|
| Draw Date | Wed Dec 17, 2025 | | Projected Jackpot | $1,250,000,000 | | Cash Value | $572,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $572,100,000 | | Federal Tax(24%) | $137,304,000 | | Additional Federal Tax | $74,333,330 | | State Tax(4.25%) | $24,314,250 | | Net Lumpsum Payment | $336,148,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$18,813,750 |
$6,921,418
$799,584 |
$11,092,748 |
| 2 |
$19,755,000 |
$7,269,680
$839,588 |
$11,645,732 |
| 3 |
$20,742,500 |
$7,635,055
$881,556 |
$12,225,889 |
| 4 |
$21,780,000 |
$8,018,930
$925,650 |
$12,835,420 |
| 5 |
$22,868,750 |
$8,421,768
$971,922 |
$13,475,060 |
| 6 |
$24,012,500 |
$8,844,955
$1,020,531 |
$14,147,014 |
| 7 |
$25,212,500 |
$9,288,955
$1,071,531 |
$14,852,014 |
| 8 |
$26,473,750 |
$9,755,618
$1,125,134 |
$15,592,998 |
| 9 |
$27,797,500 |
$10,245,405
$1,181,394 |
$16,370,701 |
| 10 |
$29,187,500 |
$10,759,705
$1,240,469 |
$17,187,326 |
| 11 |
$30,646,250 |
$11,299,443
$1,302,466 |
$18,044,341 |
| 12 |
$32,178,750 |
$11,866,468
$1,367,597 |
$18,944,685 |
| 13 |
$33,787,500 |
$12,461,705
$1,435,969 |
$19,889,826 |
| 14 |
$35,477,500 |
$13,087,005
$1,507,794 |
$20,882,701 |
| 15 |
$37,251,250 |
$13,743,293
$1,583,178 |
$21,924,779 |
| 16 |
$39,113,750 |
$14,432,418
$1,662,334 |
$23,018,998 |
| 17 |
$41,068,750 |
$15,155,768
$1,745,422 |
$24,167,560 |
| 18 |
$43,122,500 |
$15,915,655
$1,832,706 |
$25,374,139 |
| 19 |
$45,278,750 |
$16,713,468
$1,924,347 |
$26,640,935 |
| 20 |
$47,542,500 |
$17,551,055
$2,020,556 |
$27,970,889 |
| 21 |
$49,920,000 |
$18,430,730
$2,121,600 |
$29,367,670 |
| 22 |
$52,416,250 |
$19,354,343
$2,227,691 |
$30,834,216 |
| 23 |
$55,036,250 |
$20,323,743
$2,339,041 |
$32,373,466 |
| 24 |
$57,788,750 |
$21,342,168
$2,456,022 |
$33,990,560 |
| 25 |
$60,677,500 |
$22,411,005
$2,578,794 |
$35,687,701 |
| 26 |
$63,712,500 |
$23,533,955
$2,707,781 |
$37,470,764 |
| 27 |
$66,897,500 |
$24,712,405
$2,843,144 |
$39,341,951 |
| 28 |
$70,242,500 |
$25,950,055
$2,985,306 |
$41,307,139 |
| 29 |
$73,755,000 |
$27,249,680
$3,134,588 |
$43,370,732 |
| 30 |
$77,442,500 |
$28,614,055
$3,291,306 |
$45,537,139 |
|
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