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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $2,736,000 | | Net Lumpsum Payment | $33,591,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$91,510 |
$1,161,872 |
| 2 |
$2,022,912 |
$708,808
$96,088 |
$1,218,016 |
| 3 |
$2,124,032 |
$746,222
$100,892 |
$1,276,918 |
| 4 |
$2,230,272 |
$785,531
$105,938 |
$1,338,803 |
| 5 |
$2,341,760 |
$826,782
$111,234 |
$1,403,744 |
| 6 |
$2,458,880 |
$870,116
$116,797 |
$1,471,967 |
| 7 |
$2,581,760 |
$915,582
$122,634 |
$1,543,544 |
| 8 |
$2,710,912 |
$963,368
$128,768 |
$1,618,776 |
| 9 |
$2,846,464 |
$1,013,522
$135,207 |
$1,697,735 |
| 10 |
$2,988,800 |
$1,066,186
$141,968 |
$1,780,646 |
| 11 |
$3,138,176 |
$1,121,456
$149,063 |
$1,867,657 |
| 12 |
$3,295,104 |
$1,179,519
$156,517 |
$1,959,068 |
| 13 |
$3,459,840 |
$1,240,471
$164,342 |
$2,055,027 |
| 14 |
$3,632,896 |
$1,304,502
$172,563 |
$2,155,831 |
| 15 |
$3,814,528 |
$1,371,706
$181,190 |
$2,261,632 |
| 16 |
$4,005,248 |
$1,442,272
$190,249 |
$2,372,727 |
| 17 |
$4,205,440 |
$1,516,343
$199,758 |
$2,489,339 |
| 18 |
$4,415,744 |
$1,594,156
$209,748 |
$2,611,840 |
| 19 |
$4,636,544 |
$1,675,852
$220,236 |
$2,740,456 |
| 20 |
$4,868,352 |
$1,761,621
$231,247 |
$2,875,484 |
| 21 |
$5,111,808 |
$1,851,699
$242,811 |
$3,017,298 |
| 22 |
$5,367,424 |
$1,946,277
$254,953 |
$3,166,194 |
| 23 |
$5,635,712 |
$2,045,544
$267,696 |
$3,322,472 |
| 24 |
$5,917,568 |
$2,149,831
$281,084 |
$3,486,653 |
| 25 |
$6,213,376 |
$2,259,280
$295,135 |
$3,658,961 |
| 26 |
$6,524,160 |
$2,374,270
$309,898 |
$3,839,992 |
| 27 |
$6,850,304 |
$2,494,943
$325,389 |
$4,029,972 |
| 28 |
$7,192,832 |
$2,621,678
$341,660 |
$4,229,494 |
| 29 |
$7,552,512 |
$2,754,760
$358,744 |
$4,439,008 |
| 30 |
$7,930,112 |
$2,894,472
$376,680 |
$4,658,960 |
|
|
