The jackpot for the Powerball draw on Sat Jan 25, 2025, is projected to be $46 Million, with an option for a cash payout of $20.5 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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont Powerball Jackpot/Cash Option for Sat Jan 25, 2025 |
|---|
| Draw Date | Sat Jan 25, 2025 | | Projected Jackpot | $46,000,000 | | Cash Value | $20,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,500,000 | | Federal Tax(24%) | $4,920,000 | | Additional Federal Tax | $2,625,330 | | State Tax(6%) | $1,230,000 | | Net Lumpsum Payment | $11,724,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$692,346 |
$216,498
$41,541 |
$434,307 |
| 2 |
$726,984 |
$229,314
$43,619 |
$454,051 |
| 3 |
$763,324 |
$242,760
$45,799 |
$474,765 |
| 4 |
$801,504 |
$256,887
$48,090 |
$496,527 |
| 5 |
$841,570 |
$271,711
$50,494 |
$519,365 |
| 6 |
$883,660 |
$287,285
$53,020 |
$543,355 |
| 7 |
$927,820 |
$303,624
$55,669 |
$568,527 |
| 8 |
$974,234 |
$320,797
$58,454 |
$594,983 |
| 9 |
$1,022,948 |
$338,821
$61,377 |
$622,750 |
| 10 |
$1,074,100 |
$357,747
$64,446 |
$651,907 |
| 11 |
$1,127,782 |
$377,610
$67,667 |
$682,505 |
| 12 |
$1,184,178 |
$398,476
$71,051 |
$714,651 |
| 13 |
$1,243,380 |
$420,381
$74,603 |
$748,396 |
| 14 |
$1,305,572 |
$443,392
$78,334 |
$783,846 |
| 15 |
$1,370,846 |
$467,543
$82,251 |
$821,052 |
| 16 |
$1,439,386 |
$492,903
$86,363 |
$860,120 |
| 17 |
$1,511,330 |
$519,522
$90,680 |
$901,128 |
| 18 |
$1,586,908 |
$547,486
$95,214 |
$944,208 |
| 19 |
$1,666,258 |
$576,846
$99,975 |
$989,437 |
| 20 |
$1,749,564 |
$607,669
$104,974 |
$1,036,921 |
| 21 |
$1,837,056 |
$640,041
$110,223 |
$1,086,792 |
| 22 |
$1,928,918 |
$674,030
$115,735 |
$1,139,153 |
| 23 |
$2,025,334 |
$709,704
$121,520 |
$1,194,110 |
| 24 |
$2,126,626 |
$747,182
$127,598 |
$1,251,846 |
| 25 |
$2,232,932 |
$786,515
$133,976 |
$1,312,441 |
| 26 |
$2,344,620 |
$827,840
$140,677 |
$1,376,103 |
| 27 |
$2,461,828 |
$871,207
$147,710 |
$1,442,911 |
| 28 |
$2,584,924 |
$916,752
$155,095 |
$1,513,077 |
| 29 |
$2,714,184 |
$964,578
$162,851 |
$1,586,755 |
| 30 |
$2,849,884 |
$1,014,787
$170,993 |
$1,664,104 |
|
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