Maine Lottery

MELottery 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 Maine, your state will take 5% 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.

Maine 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(5%)	$4,965,000
Net Lumpsum Payment	$57,633,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,235,965	-$1,157,637 -$161,798	$1,916,530
2	$3,397,860	-$1,217,539 -$169,893	$2,010,428
3	$3,567,710	-$1,280,383 -$178,386	$2,108,941
4	$3,746,160	-$1,346,410 -$187,308	$2,212,442
5	$3,933,425	-$1,415,698 -$196,671	$2,321,056
6	$4,130,150	-$1,488,486 -$206,508	$2,435,156
7	$4,336,550	-$1,564,854 -$216,828	$2,554,868
8	$4,553,485	-$1,645,120 -$227,674	$2,680,691
9	$4,781,170	-$1,729,363 -$239,059	$2,812,748
10	$5,020,250	-$1,817,823 -$251,013	$2,951,414
11	$5,271,155	-$1,910,658 -$263,558	$3,096,939
12	$5,534,745	-$2,008,186 -$276,737	$3,249,822
13	$5,811,450	-$2,110,567 -$290,573	$3,410,310
14	$6,102,130	-$2,218,118 -$305,107	$3,578,905
15	$6,407,215	-$2,331,000 -$320,361	$3,755,854
16	$6,727,565	-$2,449,529 -$336,378	$3,941,658
17	$7,063,825	-$2,573,946 -$353,191	$4,136,688
18	$7,417,070	-$2,704,646 -$370,854	$4,341,570
19	$7,787,945	-$2,841,870 -$389,397	$4,556,678
20	$8,177,310	-$2,985,935 -$408,866	$4,782,509
21	$8,586,240	-$3,137,239 -$429,312	$5,019,689
22	$9,015,595	-$3,296,101 -$450,780	$5,268,714
23	$9,466,235	-$3,462,837 -$473,312	$5,530,086
24	$9,939,665	-$3,638,006 -$496,983	$5,804,676
25	$10,436,530	-$3,821,846 -$521,827	$6,092,857
26	$10,958,550	-$4,014,994 -$547,928	$6,395,628
27	$11,506,370	-$4,217,687 -$575,319	$6,713,364
28	$12,081,710	-$4,430,563 -$604,086	$7,047,061
29	$12,685,860	-$4,654,099 -$634,293	$7,397,468
30	$13,320,110	-$4,888,771 -$666,006	$7,765,333