New York Lottery

NYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 New York, your state will take 8.82% 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.

New York Powerball Jackpot/Cash Option for Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(8.82%)	$21,406,140
Net Lumpsum Payment	$131,534,530

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$683,662	$4,239,305
2	$8,139,060	-$2,971,783 -$717,865	$4,449,412
3	$8,545,910	-$3,122,317 -$753,749	$4,669,844
4	$8,973,360	-$3,280,474 -$791,450	$4,901,436
5	$9,421,925	-$3,446,443 -$831,014	$5,144,468
6	$9,893,150	-$3,620,796 -$872,576	$5,399,778
7	$10,387,550	-$3,803,724 -$916,182	$5,667,644
8	$10,907,185	-$3,995,989 -$962,014	$5,949,182
9	$11,452,570	-$4,197,781 -$1,010,117	$6,244,672
10	$12,025,250	-$4,409,673 -$1,060,627	$6,554,950
11	$12,626,255	-$4,632,045 -$1,113,636	$6,880,574
12	$13,257,645	-$4,865,659 -$1,169,324	$7,222,662
13	$13,920,450	-$5,110,897 -$1,227,784	$7,581,769
14	$14,616,730	-$5,368,520 -$1,289,196	$7,959,014
15	$15,347,515	-$5,638,911 -$1,353,651	$8,354,953
16	$16,114,865	-$5,922,830 -$1,421,331	$8,770,704
17	$16,920,325	-$6,220,851 -$1,492,373	$9,207,101
18	$17,766,470	-$6,533,924 -$1,567,003	$9,665,543
19	$18,654,845	-$6,862,623 -$1,645,357	$10,146,865
20	$19,587,510	-$7,207,709 -$1,727,618	$10,652,183
21	$20,567,040	-$7,570,135 -$1,814,013	$11,182,892
22	$21,595,495	-$7,950,664 -$1,904,723	$11,740,108
23	$22,674,935	-$8,350,056 -$1,999,929	$12,324,950
24	$23,808,965	-$8,769,647 -$2,099,951	$12,939,367
25	$24,999,130	-$9,210,008 -$2,204,923	$13,584,199
26	$26,249,550	-$9,672,664 -$2,315,210	$14,261,676
27	$27,561,770	-$10,158,185 -$2,430,948	$14,972,637
28	$28,939,910	-$10,668,097 -$2,552,500	$15,719,313
29	$30,387,060	-$11,203,543 -$2,680,139	$16,503,378
30	$31,906,310	-$11,765,665 -$2,814,137	$17,326,508