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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $5,080,320 | | Net Lumpsum Payment | $31,247,350 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$169,920 |
$1,083,462 |
| 2 |
$2,022,912 |
$708,808
$178,421 |
$1,135,683 |
| 3 |
$2,124,032 |
$746,222
$187,340 |
$1,190,470 |
| 4 |
$2,230,272 |
$785,531
$196,710 |
$1,248,031 |
| 5 |
$2,341,760 |
$826,782
$206,543 |
$1,308,435 |
| 6 |
$2,458,880 |
$870,116
$216,873 |
$1,371,891 |
| 7 |
$2,581,760 |
$915,582
$227,711 |
$1,438,467 |
| 8 |
$2,710,912 |
$963,368
$239,102 |
$1,508,442 |
| 9 |
$2,846,464 |
$1,013,522
$251,058 |
$1,581,884 |
| 10 |
$2,988,800 |
$1,066,186
$263,612 |
$1,659,002 |
| 11 |
$3,138,176 |
$1,121,456
$276,787 |
$1,739,933 |
| 12 |
$3,295,104 |
$1,179,519
$290,628 |
$1,824,957 |
| 13 |
$3,459,840 |
$1,240,471
$305,158 |
$1,914,211 |
| 14 |
$3,632,896 |
$1,304,502
$320,421 |
$2,007,973 |
| 15 |
$3,814,528 |
$1,371,706
$336,441 |
$2,106,381 |
| 16 |
$4,005,248 |
$1,442,272
$353,263 |
$2,209,713 |
| 17 |
$4,205,440 |
$1,516,343
$370,920 |
$2,318,177 |
| 18 |
$4,415,744 |
$1,594,156
$389,469 |
$2,432,119 |
| 19 |
$4,636,544 |
$1,675,852
$408,943 |
$2,551,749 |
| 20 |
$4,868,352 |
$1,761,621
$429,389 |
$2,677,342 |
| 21 |
$5,111,808 |
$1,851,699
$450,861 |
$2,809,248 |
| 22 |
$5,367,424 |
$1,946,277
$473,407 |
$2,947,740 |
| 23 |
$5,635,712 |
$2,045,544
$497,070 |
$3,093,098 |
| 24 |
$5,917,568 |
$2,149,831
$521,929 |
$3,245,808 |
| 25 |
$6,213,376 |
$2,259,280
$548,020 |
$3,406,076 |
| 26 |
$6,524,160 |
$2,374,270
$575,431 |
$3,574,459 |
| 27 |
$6,850,304 |
$2,494,943
$604,197 |
$3,751,164 |
| 28 |
$7,192,832 |
$2,621,678
$634,408 |
$3,936,746 |
| 29 |
$7,552,512 |
$2,754,760
$666,132 |
$4,131,620 |
| 30 |
$7,930,112 |
$2,894,472
$699,436 |
$4,336,204 |
|
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