New York Lottery

NYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 17, 2025 is estimated to be $123 Million, with a cash option of 55.9 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 May 17, 2025

Draw Date	Jackpot	Cash Option
Sat May 17, 2025	$123,000,000	$55,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,900,000
Federal Tax(24%)	$13,416,000
Additional Federal Tax	$7,227,330
State Tax(8.82%)	$4,930,380
Net Lumpsum Payment	$30,326,290

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,851,273	-$645,301 -$163,282	$1,042,690
2	$1,943,892	-$679,570 -$171,451	$1,092,871
3	$2,041,062	-$715,523 -$180,022	$1,145,517
4	$2,143,152	-$753,297 -$189,026	$1,200,829
5	$2,250,285	-$792,936 -$198,475	$1,258,874
6	$2,362,830	-$834,577 -$208,402	$1,319,851
7	$2,480,910	-$878,267 -$218,816	$1,383,827
8	$2,605,017	-$924,187 -$229,762	$1,451,068
9	$2,735,274	-$972,382 -$241,251	$1,521,641
10	$2,872,050	-$1,022,989 -$253,315	$1,595,746
11	$3,015,591	-$1,076,099 -$265,975	$1,673,517
12	$3,166,389	-$1,131,894 -$279,276	$1,755,219
13	$3,324,690	-$1,190,466 -$293,238	$1,840,986
14	$3,490,986	-$1,251,995 -$307,905	$1,931,086
15	$3,665,523	-$1,316,574 -$323,299	$2,025,650
16	$3,848,793	-$1,384,384 -$339,464	$2,124,945
17	$4,041,165	-$1,455,561 -$356,431	$2,229,173
18	$4,243,254	-$1,530,334 -$374,255	$2,338,665
19	$4,455,429	-$1,608,839 -$392,969	$2,453,621
20	$4,678,182	-$1,691,258 -$412,616	$2,574,308
21	$4,912,128	-$1,777,818 -$433,250	$2,701,060
22	$5,157,759	-$1,868,701 -$454,914	$2,834,144
23	$5,415,567	-$1,964,090 -$477,653	$2,973,824
24	$5,686,413	-$2,064,303 -$501,542	$3,120,568
25	$5,970,666	-$2,169,477 -$526,613	$3,274,576
26	$6,269,310	-$2,279,975 -$552,953	$3,436,382
27	$6,582,714	-$2,395,935 -$580,595	$3,606,184
28	$6,911,862	-$2,517,719 -$609,626	$3,784,517
29	$7,257,492	-$2,645,602 -$640,111	$3,971,779
30	$7,620,342	-$2,779,857 -$672,114	$4,168,371