The jackpot for the Powerball draw on Sat May 3, 2025, is projected to be $44 Million, with an option for a cash payout of $20.3 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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania Powerball Jackpot/Cash Option for Sat May 3, 2025 |
|---|
| Draw Date | Sat May 3, 2025 | | Projected Jackpot | $44,000,000 | | Cash Value | $20,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,300,000 | | Federal Tax(24%) | $4,872,000 | | Additional Federal Tax | $2,599,330 | | State Tax(3.07%) | $623,210 | | Net Lumpsum Payment | $12,205,460 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$20,331 |
$436,552 |
| 2 |
$695,376 |
$217,620
$21,348 |
$456,408 |
| 3 |
$730,136 |
$230,481
$22,415 |
$477,240 |
| 4 |
$766,656 |
$243,993
$23,536 |
$499,127 |
| 5 |
$804,980 |
$258,173
$24,713 |
$522,094 |
| 6 |
$845,240 |
$273,069
$25,949 |
$546,222 |
| 7 |
$887,480 |
$288,698
$27,246 |
$571,536 |
| 8 |
$931,876 |
$305,125
$28,609 |
$598,142 |
| 9 |
$978,472 |
$322,365
$30,039 |
$626,068 |
| 10 |
$1,027,400 |
$340,468
$31,541 |
$655,391 |
| 11 |
$1,078,748 |
$359,467
$33,118 |
$686,163 |
| 12 |
$1,132,692 |
$379,426
$34,774 |
$718,492 |
| 13 |
$1,189,320 |
$400,379
$36,512 |
$752,429 |
| 14 |
$1,248,808 |
$422,389
$38,338 |
$788,081 |
| 15 |
$1,311,244 |
$445,491
$40,255 |
$825,498 |
| 16 |
$1,376,804 |
$469,748
$42,268 |
$864,788 |
| 17 |
$1,445,620 |
$495,210
$44,381 |
$906,029 |
| 18 |
$1,517,912 |
$521,958
$46,600 |
$949,354 |
| 19 |
$1,593,812 |
$550,041
$48,930 |
$994,841 |
| 20 |
$1,673,496 |
$579,524
$51,376 |
$1,042,596 |
| 21 |
$1,757,184 |
$610,488
$53,946 |
$1,092,750 |
| 22 |
$1,845,052 |
$643,000
$56,643 |
$1,145,409 |
| 23 |
$1,937,276 |
$677,123
$59,474 |
$1,200,679 |
| 24 |
$2,034,164 |
$712,971
$62,449 |
$1,258,744 |
| 25 |
$2,135,848 |
$750,594
$65,571 |
$1,319,683 |
| 26 |
$2,242,680 |
$790,122
$68,850 |
$1,383,708 |
| 27 |
$2,354,792 |
$831,603
$72,292 |
$1,450,897 |
| 28 |
$2,472,536 |
$875,169
$75,907 |
$1,521,460 |
| 29 |
$2,596,176 |
$920,916
$79,703 |
$1,595,557 |
| 30 |
$2,725,976 |
$968,942
$83,687 |
$1,673,347 |
|
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