The jackpot for the Powerball draw on Sat May 24, 2025, is projected to be $163 Million, with an option for a cash payout of $73.3 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Sat May 24, 2025 |
| Draw Date |
Sat May 24, 2025 |
| Projected Jackpot |
$163,000,000 |
| Cash Value |
$73,300,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$73,300,000 |
| Federal Tax(24%) |
$17,592,000 |
| Additional Federal Tax |
$9,489,330 |
| State Tax(3.15%) |
$2,308,950 |
| Net Lumpsum Payment |
$43,909,720 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,453,313 |
$868,056
$77,279 |
$1,507,978 |
| 2 |
$2,576,052 |
$913,470
$81,146 |
$1,581,436 |
| 3 |
$2,704,822 |
$961,115
$85,202 |
$1,658,505 |
| 4 |
$2,840,112 |
$1,011,172
$89,464 |
$1,739,476 |
| 5 |
$2,982,085 |
$1,063,702
$93,936 |
$1,824,447 |
| 6 |
$3,131,230 |
$1,118,885
$98,634 |
$1,913,711 |
| 7 |
$3,287,710 |
$1,176,783
$103,563 |
$2,007,364 |
| 8 |
$3,452,177 |
$1,237,636
$108,744 |
$2,105,797 |
| 9 |
$3,624,794 |
$1,301,504
$114,181 |
$2,209,109 |
| 10 |
$3,806,050 |
$1,368,569
$119,891 |
$2,317,590 |
| 11 |
$3,996,271 |
$1,438,951
$125,883 |
$2,431,437 |
| 12 |
$4,196,109 |
$1,512,891
$132,177 |
$2,551,041 |
| 13 |
$4,405,890 |
$1,590,510
$138,786 |
$2,676,594 |
| 14 |
$4,626,266 |
$1,672,049
$145,727 |
$2,808,490 |
| 15 |
$4,857,563 |
$1,757,629
$153,013 |
$2,946,921 |
| 16 |
$5,100,433 |
$1,847,491
$160,664 |
$3,092,278 |
| 17 |
$5,355,365 |
$1,941,815
$168,694 |
$3,244,856 |
| 18 |
$5,623,174 |
$2,040,905
$177,130 |
$3,405,139 |
| 19 |
$5,904,349 |
$2,144,940
$185,987 |
$3,573,422 |
| 20 |
$6,199,542 |
$2,254,161
$195,286 |
$3,750,095 |
| 21 |
$6,509,568 |
$2,368,871
$205,051 |
$3,935,646 |
| 22 |
$6,835,079 |
$2,489,310
$215,305 |
$4,130,464 |
| 23 |
$7,176,727 |
$2,615,719
$226,067 |
$4,334,941 |
| 24 |
$7,535,653 |
$2,748,522
$237,373 |
$4,549,758 |
| 25 |
$7,912,346 |
$2,887,898
$249,239 |
$4,775,209 |
| 26 |
$8,308,110 |
$3,034,331
$261,705 |
$5,012,074 |
| 27 |
$8,723,434 |
$3,188,001
$274,788 |
$5,260,645 |
| 28 |
$9,159,622 |
$3,349,391
$288,528 |
$5,521,703 |
| 29 |
$9,617,652 |
$3,518,862
$302,956 |
$5,795,834 |
| 30 |
$10,098,502 |
$3,696,776
$318,103 |
$6,083,623 |
|
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