Ohio Lottery

OHLottery 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 Ohio, your state will take 3.99% 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.

Ohio 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(3.99%)	$4,776,030
Net Lumpsum Payment	$70,674,640

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$158,541	$2,384,411
2	$4,172,256	-$1,504,065 -$166,473	$2,501,718
3	$4,380,816	-$1,581,232 -$174,795	$2,624,789
4	$4,599,936	-$1,662,307 -$183,537	$2,754,092
5	$4,829,880	-$1,747,386 -$192,712	$2,889,782
6	$5,071,440	-$1,836,763 -$202,350	$3,032,327
7	$5,324,880	-$1,930,536 -$212,463	$3,181,881
8	$5,591,256	-$2,029,095 -$223,091	$3,339,070
9	$5,870,832	-$2,132,538 -$234,246	$3,504,048
10	$6,164,400	-$2,241,158 -$245,960	$3,677,282
11	$6,472,488	-$2,355,151 -$258,252	$3,859,085
12	$6,796,152	-$2,474,907 -$271,166	$4,050,079
13	$7,135,920	-$2,600,621 -$284,723	$4,250,576
14	$7,492,848	-$2,732,684 -$298,965	$4,461,199
15	$7,867,464	-$2,871,292 -$313,912	$4,682,260
16	$8,260,824	-$3,016,835 -$329,607	$4,914,382
17	$8,673,720	-$3,169,607 -$346,081	$5,158,032
18	$9,107,472	-$3,330,095 -$363,388	$5,413,989
19	$9,562,872	-$3,498,593 -$381,559	$5,682,720
20	$10,040,976	-$3,675,492 -$400,635	$5,964,849
21	$10,543,104	-$3,861,279 -$420,670	$6,261,155
22	$11,070,312	-$4,056,346 -$441,705	$6,572,261
23	$11,623,656	-$4,261,083 -$463,784	$6,898,789
24	$12,204,984	-$4,476,174 -$486,979	$7,241,831
25	$12,815,088	-$4,701,913 -$511,322	$7,601,853
26	$13,456,080	-$4,939,080 -$536,898	$7,980,102
27	$14,128,752	-$5,187,969 -$563,737	$8,377,046
28	$14,835,216	-$5,449,360 -$591,925	$8,793,931
29	$15,577,056	-$5,723,841 -$621,525	$9,231,690
30	$16,355,856	-$6,011,997 -$652,599	$9,691,260