Idaho Lottery

IDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed May 7, 2025 is estimated to be $65 Million, with a cash option of 29.9 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Idaho, your state will take 5.8% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Idaho Powerball Jackpot/Cash Option for Wed May 7, 2025

Draw Date	Jackpot	Cash Option
Wed May 7, 2025	$65,000,000	$29,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$29,900,000
Federal Tax(24%)	$7,176,000
Additional Federal Tax	$3,847,330
State Tax(5.8%)	$1,734,200
Net Lumpsum Payment	$17,142,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$978,315	-$322,307 -$56,742	$599,266
2	$1,027,260	-$340,417 -$59,581	$627,262
3	$1,078,610	-$359,416 -$62,559	$656,635
4	$1,132,560	-$379,378 -$65,688	$687,494
5	$1,189,175	-$400,325 -$68,972	$719,878
6	$1,248,650	-$422,331 -$72,422	$753,897
7	$1,311,050	-$445,419 -$76,041	$789,590
8	$1,376,635	-$469,685 -$79,845	$827,105
9	$1,445,470	-$495,154 -$83,837	$866,479
10	$1,517,750	-$521,898 -$88,030	$907,822
11	$1,593,605	-$549,964 -$92,429	$951,212
12	$1,673,295	-$579,450 -$97,051	$996,794
13	$1,756,950	-$610,402 -$101,903	$1,044,645
14	$1,844,830	-$642,917 -$107,000	$1,094,913
15	$1,937,065	-$677,044 -$112,350	$1,147,671
16	$2,033,915	-$712,879 -$117,967	$1,203,069
17	$2,135,575	-$750,493 -$123,863	$1,261,219
18	$2,242,370	-$790,007 -$130,057	$1,322,306
19	$2,354,495	-$831,494 -$136,561	$1,386,440
20	$2,472,210	-$875,048 -$143,388	$1,453,774
21	$2,595,840	-$920,791 -$150,559	$1,524,490
22	$2,725,645	-$968,819 -$158,087	$1,598,739
23	$2,861,885	-$1,019,228 -$165,989	$1,676,668
24	$3,005,015	-$1,072,186 -$174,291	$1,758,538
25	$3,155,230	-$1,127,765 -$183,003	$1,844,462
26	$3,313,050	-$1,186,159 -$192,157	$1,934,734
27	$3,478,670	-$1,247,438 -$201,763	$2,029,469
28	$3,652,610	-$1,311,796 -$211,851	$2,128,963
29	$3,835,260	-$1,379,377 -$222,445	$2,233,438
30	$4,027,010	-$1,450,324 -$233,567	$2,343,119