North Carolina Lottery

NCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon May 12, 2025 is estimated to be $93 Million, with a cash option of 42.3 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 North Carolina, your state will take 4.75% 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.

North Carolina Powerball Jackpot/Cash Option for Mon May 12, 2025

Draw Date	Jackpot	Cash Option
Mon May 12, 2025	$93,000,000	$42,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$42,300,000
Federal Tax(24%)	$10,152,000
Additional Federal Tax	$5,459,330
State Tax(4.75%)	$2,009,250
Net Lumpsum Payment	$24,679,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,399,743	-$478,235 -$66,488	$855,020
2	$1,469,772	-$504,146 -$69,814	$895,812
3	$1,543,242	-$531,330 -$73,304	$938,608
4	$1,620,432	-$559,890 -$76,971	$983,571
5	$1,701,435	-$589,861 -$80,818	$1,030,756
6	$1,786,530	-$621,346 -$84,860	$1,080,324
7	$1,875,810	-$654,380 -$89,101	$1,132,329
8	$1,969,647	-$689,100 -$93,558	$1,186,989
9	$2,068,134	-$725,540 -$98,236	$1,244,358
10	$2,171,550	-$763,804 -$103,149	$1,304,597
11	$2,280,081	-$803,960 -$108,304	$1,367,817
12	$2,394,099	-$846,147 -$113,720	$1,434,232
13	$2,513,790	-$890,433 -$119,405	$1,503,952
14	$2,639,526	-$936,955 -$125,377	$1,577,194
15	$2,771,493	-$985,783 -$131,646	$1,654,064
16	$2,910,063	-$1,037,054 -$138,228	$1,734,781
17	$3,055,515	-$1,090,871 -$145,137	$1,819,507
18	$3,208,314	-$1,147,407 -$152,395	$1,908,512
19	$3,368,739	-$1,206,764 -$160,015	$2,001,960
20	$3,537,162	-$1,269,080 -$168,015	$2,100,067
21	$3,714,048	-$1,334,528 -$176,417	$2,203,103
22	$3,899,769	-$1,403,245 -$185,239	$2,311,285
23	$4,094,697	-$1,475,368 -$194,498	$2,424,831
24	$4,299,483	-$1,551,139 -$204,225	$2,544,119
25	$4,514,406	-$1,630,661 -$214,434	$2,669,311
26	$4,740,210	-$1,714,208 -$225,160	$2,800,842
27	$4,977,174	-$1,801,885 -$236,416	$2,938,873
28	$5,226,042	-$1,893,966 -$248,237	$3,083,839
29	$5,487,372	-$1,990,658 -$260,650	$3,236,064
30	$5,761,722	-$2,092,168 -$273,682	$3,395,872