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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $2,298,240 | | Net Lumpsum Payment | $34,029,430 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$76,868 |
$1,176,514 |
| 2 |
$2,022,912 |
$708,808
$80,714 |
$1,233,390 |
| 3 |
$2,124,032 |
$746,222
$84,749 |
$1,293,061 |
| 4 |
$2,230,272 |
$785,531
$88,988 |
$1,355,753 |
| 5 |
$2,341,760 |
$826,782
$93,436 |
$1,421,542 |
| 6 |
$2,458,880 |
$870,116
$98,109 |
$1,490,655 |
| 7 |
$2,581,760 |
$915,582
$103,012 |
$1,563,166 |
| 8 |
$2,710,912 |
$963,368
$108,165 |
$1,639,379 |
| 9 |
$2,846,464 |
$1,013,522
$113,574 |
$1,719,368 |
| 10 |
$2,988,800 |
$1,066,186
$119,253 |
$1,803,361 |
| 11 |
$3,138,176 |
$1,121,456
$125,213 |
$1,891,507 |
| 12 |
$3,295,104 |
$1,179,519
$131,475 |
$1,984,110 |
| 13 |
$3,459,840 |
$1,240,471
$138,048 |
$2,081,321 |
| 14 |
$3,632,896 |
$1,304,502
$144,953 |
$2,183,441 |
| 15 |
$3,814,528 |
$1,371,706
$152,200 |
$2,290,622 |
| 16 |
$4,005,248 |
$1,442,272
$159,809 |
$2,403,167 |
| 17 |
$4,205,440 |
$1,516,343
$167,797 |
$2,521,300 |
| 18 |
$4,415,744 |
$1,594,156
$176,188 |
$2,645,400 |
| 19 |
$4,636,544 |
$1,675,852
$184,998 |
$2,775,694 |
| 20 |
$4,868,352 |
$1,761,621
$194,247 |
$2,912,484 |
| 21 |
$5,111,808 |
$1,851,699
$203,961 |
$3,056,148 |
| 22 |
$5,367,424 |
$1,946,277
$214,160 |
$3,206,987 |
| 23 |
$5,635,712 |
$2,045,544
$224,865 |
$3,365,303 |
| 24 |
$5,917,568 |
$2,149,831
$236,111 |
$3,531,626 |
| 25 |
$6,213,376 |
$2,259,280
$247,914 |
$3,706,182 |
| 26 |
$6,524,160 |
$2,374,270
$260,314 |
$3,889,576 |
| 27 |
$6,850,304 |
$2,494,943
$273,327 |
$4,082,034 |
| 28 |
$7,192,832 |
$2,621,678
$286,994 |
$4,284,160 |
| 29 |
$7,552,512 |
$2,754,760
$301,345 |
$4,496,407 |
| 30 |
$7,930,112 |
$2,894,472
$316,411 |
$4,719,229 |
|
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