Indiana Lottery

INLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon May 19, 2025 is estimated to be $134 Million, with a cash option of 60.3 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 Mon May 19, 2025

Draw Date	Jackpot	Cash Option
Mon May 19, 2025	$134,000,000	$60,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$60,300,000
Federal Tax(24%)	$14,472,000
Additional Federal Tax	$7,799,330
State Tax(3.15%)	$1,899,450
Net Lumpsum Payment	$36,129,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,016,834	-$706,559 -$63,530	$1,246,745
2	$2,117,736	-$743,893 -$66,709	$1,307,134
3	$2,223,596	-$783,061 -$70,043	$1,370,492
4	$2,334,816	-$824,212 -$73,547	$1,437,057
5	$2,451,530	-$867,396 -$77,223	$1,506,911
6	$2,574,140	-$912,762 -$81,085	$1,580,293
7	$2,702,780	-$960,359 -$85,138	$1,657,283
8	$2,837,986	-$1,010,385 -$89,397	$1,738,204
9	$2,979,892	-$1,062,890 -$93,867	$1,823,135
10	$3,128,900	-$1,118,023 -$98,560	$1,912,317
11	$3,285,278	-$1,175,883 -$103,486	$2,005,909
12	$3,449,562	-$1,236,668 -$108,661	$2,104,233
13	$3,622,020	-$1,300,478 -$114,094	$2,207,448
14	$3,803,188	-$1,367,510 -$119,800	$2,315,878
15	$3,993,334	-$1,437,864 -$125,790	$2,429,680
16	$4,192,994	-$1,511,738 -$132,079	$2,549,177
17	$4,402,570	-$1,589,281 -$138,681	$2,674,608
18	$4,622,732	-$1,670,741 -$145,616	$2,806,375
19	$4,853,882	-$1,756,267 -$152,897	$2,944,718
20	$5,096,556	-$1,846,056 -$160,542	$3,089,958
21	$5,351,424	-$1,940,357 -$168,570	$3,242,497
22	$5,619,022	-$2,039,369 -$176,999	$3,402,654
23	$5,899,886	-$2,143,288 -$185,846	$3,570,752
24	$6,194,954	-$2,252,463 -$195,141	$3,747,350
25	$6,504,628	-$2,367,043 -$204,896	$3,932,689
26	$6,829,980	-$2,487,423 -$215,144	$4,127,413
27	$7,171,412	-$2,613,753 -$225,899	$4,331,760
28	$7,529,996	-$2,746,429 -$237,195	$4,546,372
29	$7,906,536	-$2,885,749 -$249,056	$4,771,731
30	$8,301,836	-$3,032,010 -$261,508	$5,008,318