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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) |
$2,924,670 |
| Net Lumpsum Payment |
$43,294,000 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,453,313 |
$868,056
$97,887 |
$1,487,370 |
| 2 |
$2,576,052 |
$913,470
$102,784 |
$1,559,798 |
| 3 |
$2,704,822 |
$961,115
$107,922 |
$1,635,785 |
| 4 |
$2,840,112 |
$1,011,172
$113,320 |
$1,715,620 |
| 5 |
$2,982,085 |
$1,063,702
$118,985 |
$1,799,398 |
| 6 |
$3,131,230 |
$1,118,885
$124,936 |
$1,887,409 |
| 7 |
$3,287,710 |
$1,176,783
$131,180 |
$1,979,747 |
| 8 |
$3,452,177 |
$1,237,636
$137,742 |
$2,076,799 |
| 9 |
$3,624,794 |
$1,301,504
$144,629 |
$2,178,661 |
| 10 |
$3,806,050 |
$1,368,569
$151,861 |
$2,285,620 |
| 11 |
$3,996,271 |
$1,438,951
$159,451 |
$2,397,869 |
| 12 |
$4,196,109 |
$1,512,891
$167,425 |
$2,515,793 |
| 13 |
$4,405,890 |
$1,590,510
$175,795 |
$2,639,585 |
| 14 |
$4,626,266 |
$1,672,049
$184,588 |
$2,769,629 |
| 15 |
$4,857,563 |
$1,757,629
$193,817 |
$2,906,117 |
| 16 |
$5,100,433 |
$1,847,491
$203,507 |
$3,049,435 |
| 17 |
$5,355,365 |
$1,941,815
$213,679 |
$3,199,871 |
| 18 |
$5,623,174 |
$2,040,905
$224,365 |
$3,357,904 |
| 19 |
$5,904,349 |
$2,144,940
$235,584 |
$3,523,825 |
| 20 |
$6,199,542 |
$2,254,161
$247,362 |
$3,698,019 |
| 21 |
$6,509,568 |
$2,368,871
$259,732 |
$3,880,965 |
| 22 |
$6,835,079 |
$2,489,310
$272,720 |
$4,073,049 |
| 23 |
$7,176,727 |
$2,615,719
$286,351 |
$4,274,657 |
| 24 |
$7,535,653 |
$2,748,522
$300,673 |
$4,486,458 |
| 25 |
$7,912,346 |
$2,887,898
$315,703 |
$4,708,745 |
| 26 |
$8,308,110 |
$3,034,331
$331,494 |
$4,942,285 |
| 27 |
$8,723,434 |
$3,188,001
$348,065 |
$5,187,368 |
| 28 |
$9,159,622 |
$3,349,391
$365,469 |
$5,444,762 |
| 29 |
$9,617,652 |
$3,518,862
$383,744 |
$5,715,046 |
| 30 |
$10,098,502 |
$3,696,776
$402,930 |
$5,998,796 |
|
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