Indiana Lottery

INLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 Indiana, your state will take 3.15% 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.

Indiana Powerball Jackpot/Cash Option for Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(3.15%)	$7,645,050
Net Lumpsum Payment	$145,295,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$244,165	$4,678,802
2	$8,139,060	-$2,971,783 -$256,380	$4,910,897
3	$8,545,910	-$3,122,317 -$269,196	$5,154,397
4	$8,973,360	-$3,280,474 -$282,661	$5,410,225
5	$9,421,925	-$3,446,443 -$296,791	$5,678,691
6	$9,893,150	-$3,620,796 -$311,634	$5,960,720
7	$10,387,550	-$3,803,724 -$327,208	$6,256,618
8	$10,907,185	-$3,995,989 -$343,576	$6,567,620
9	$11,452,570	-$4,197,781 -$360,756	$6,894,033
10	$12,025,250	-$4,409,673 -$378,795	$7,236,782
11	$12,626,255	-$4,632,045 -$397,727	$7,596,483
12	$13,257,645	-$4,865,659 -$417,616	$7,974,370
13	$13,920,450	-$5,110,897 -$438,494	$8,371,059
14	$14,616,730	-$5,368,520 -$460,427	$8,787,783
15	$15,347,515	-$5,638,911 -$483,447	$9,225,157
16	$16,114,865	-$5,922,830 -$507,618	$9,684,417
17	$16,920,325	-$6,220,851 -$532,990	$10,166,484
18	$17,766,470	-$6,533,924 -$559,644	$10,672,902
19	$18,654,845	-$6,862,623 -$587,628	$11,204,594
20	$19,587,510	-$7,207,709 -$617,007	$11,762,794
21	$20,567,040	-$7,570,135 -$647,862	$12,349,043
22	$21,595,495	-$7,950,664 -$680,258	$12,964,573
23	$22,674,935	-$8,350,056 -$714,260	$13,610,619
24	$23,808,965	-$8,769,647 -$749,982	$14,289,336
25	$24,999,130	-$9,210,008 -$787,473	$15,001,649
26	$26,249,550	-$9,672,664 -$826,861	$15,750,025
27	$27,561,770	-$10,158,185 -$868,196	$16,535,389
28	$28,939,910	-$10,668,097 -$911,607	$17,360,206
29	$30,387,060	-$11,203,543 -$957,192	$18,226,325
30	$31,906,310	-$11,765,665 -$1,005,049	$19,135,596