Indiana Lottery

INLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Feb 22, 2025 is estimated to be $215 Million, with a cash option of 99.3 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 Sat Feb 22, 2025

Draw Date	Jackpot	Cash Option
Sat Feb 22, 2025	$215,000,000	$99,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,300,000
Federal Tax(24%)	$23,832,000
Additional Federal Tax	$12,869,330
State Tax(3.15%)	$3,127,950
Net Lumpsum Payment	$59,470,720

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,235,965	-$1,157,637 -$101,933	$1,976,395
2	$3,397,860	-$1,217,539 -$107,033	$2,073,288
3	$3,567,710	-$1,280,383 -$112,383	$2,174,944
4	$3,746,160	-$1,346,410 -$118,004	$2,281,746
5	$3,933,425	-$1,415,698 -$123,903	$2,393,824
6	$4,130,150	-$1,488,486 -$130,100	$2,511,564
7	$4,336,550	-$1,564,854 -$136,601	$2,635,095
8	$4,553,485	-$1,645,120 -$143,435	$2,764,930
9	$4,781,170	-$1,729,363 -$150,607	$2,901,200
10	$5,020,250	-$1,817,823 -$158,138	$3,044,289
11	$5,271,155	-$1,910,658 -$166,041	$3,194,456
12	$5,534,745	-$2,008,186 -$174,344	$3,352,215
13	$5,811,450	-$2,110,567 -$183,061	$3,517,822
14	$6,102,130	-$2,218,118 -$192,217	$3,691,795
15	$6,407,215	-$2,331,000 -$201,827	$3,874,388
16	$6,727,565	-$2,449,529 -$211,918	$4,066,118
17	$7,063,825	-$2,573,946 -$222,510	$4,267,369
18	$7,417,070	-$2,704,646 -$233,638	$4,478,786
19	$7,787,945	-$2,841,870 -$245,320	$4,700,755
20	$8,177,310	-$2,985,935 -$257,585	$4,933,790
21	$8,586,240	-$3,137,239 -$270,467	$5,178,534
22	$9,015,595	-$3,296,101 -$283,991	$5,435,503
23	$9,466,235	-$3,462,837 -$298,186	$5,705,212
24	$9,939,665	-$3,638,006 -$313,099	$5,988,560
25	$10,436,530	-$3,821,846 -$328,751	$6,285,933
26	$10,958,550	-$4,014,994 -$345,194	$6,598,362
27	$11,506,370	-$4,217,687 -$362,451	$6,926,232
28	$12,081,710	-$4,430,563 -$380,574	$7,270,573
29	$12,685,860	-$4,654,099 -$399,605	$7,632,156
30	$13,320,110	-$4,888,771 -$419,583	$8,011,756