North Carolina Lottery

NCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jul 16, 2025 is estimated to be $264 Million, with a cash option of 119.7 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 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 Wed Jul 16, 2025

Draw Date	Jackpot	Cash Option
Wed Jul 16, 2025	$264,000,000	$119,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,700,000
Federal Tax(24%)	$28,728,000
Additional Federal Tax	$15,521,330
State Tax(4.75%)	$5,685,750
Net Lumpsum Payment	$69,764,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$188,740	$2,354,212
2	$4,172,256	-$1,504,065 -$198,182	$2,470,009
3	$4,380,816	-$1,581,232 -$208,089	$2,591,495
4	$4,599,936	-$1,662,307 -$218,497	$2,719,132
5	$4,829,880	-$1,747,386 -$229,419	$2,853,075
6	$5,071,440	-$1,836,763 -$240,893	$2,993,784
7	$5,324,880	-$1,930,536 -$252,932	$3,141,412
8	$5,591,256	-$2,029,095 -$265,585	$3,296,576
9	$5,870,832	-$2,132,538 -$278,865	$3,459,429
10	$6,164,400	-$2,241,158 -$292,809	$3,630,433
11	$6,472,488	-$2,355,151 -$307,443	$3,809,894
12	$6,796,152	-$2,474,907 -$322,817	$3,998,428
13	$7,135,920	-$2,600,621 -$338,956	$4,196,343
14	$7,492,848	-$2,732,684 -$355,910	$4,404,254
15	$7,867,464	-$2,871,292 -$373,705	$4,622,467
16	$8,260,824	-$3,016,835 -$392,389	$4,851,600
17	$8,673,720	-$3,169,607 -$412,002	$5,092,111
18	$9,107,472	-$3,330,095 -$432,605	$5,344,772
19	$9,562,872	-$3,498,593 -$454,236	$5,610,043
20	$10,040,976	-$3,675,492 -$476,946	$5,888,538
21	$10,543,104	-$3,861,279 -$500,797	$6,181,028
22	$11,070,312	-$4,056,346 -$525,840	$6,488,126
23	$11,623,656	-$4,261,083 -$552,124	$6,810,449
24	$12,204,984	-$4,476,174 -$579,737	$7,149,073
25	$12,815,088	-$4,701,913 -$608,717	$7,504,458
26	$13,456,080	-$4,939,080 -$639,164	$7,877,836
27	$14,128,752	-$5,187,969 -$671,116	$8,269,667
28	$14,835,216	-$5,449,360 -$704,673	$8,681,183
29	$15,577,056	-$5,723,841 -$739,910	$9,113,305
30	$16,355,856	-$6,011,997 -$776,903	$9,566,956