Ohio Lottery

OHLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Apr 16, 2025 is estimated to be $113 Million, with a cash option of 50.6 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 Apr 16, 2025

Draw Date	Jackpot	Cash Option
Wed Apr 16, 2025	$113,000,000	$50,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$50,600,000
Federal Tax(24%)	$12,144,000
Additional Federal Tax	$6,538,330
State Tax(3.99%)	$2,018,940
Net Lumpsum Payment	$29,898,730

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,700,763	-$589,613 -$67,860	$1,043,290
2	$1,785,852	-$621,096 -$71,255	$1,093,501
3	$1,875,122	-$654,126 -$74,817	$1,146,179
4	$1,968,912	-$688,828 -$78,560	$1,201,524
5	$2,067,335	-$725,244 -$82,487	$1,259,604
6	$2,170,730	-$763,500 -$86,612	$1,320,618
7	$2,279,210	-$803,638 -$90,940	$1,384,632
8	$2,393,227	-$845,824 -$95,490	$1,451,913
9	$2,512,894	-$890,101 -$100,264	$1,522,529
10	$2,638,550	-$936,594 -$105,278	$1,596,678
11	$2,770,421	-$985,386 -$110,540	$1,674,495
12	$2,908,959	-$1,036,645 -$116,067	$1,756,247
13	$3,054,390	-$1,090,455 -$121,870	$1,842,065
14	$3,207,166	-$1,146,982 -$127,966	$1,932,218
15	$3,367,513	-$1,206,310 -$134,364	$2,026,839
16	$3,535,883	-$1,268,607 -$141,082	$2,126,194
17	$3,712,615	-$1,333,998 -$148,133	$2,230,484
18	$3,898,274	-$1,402,692 -$155,541	$2,340,041
19	$4,093,199	-$1,474,814 -$163,319	$2,455,066
20	$4,297,842	-$1,550,532 -$171,484	$2,575,826
21	$4,512,768	-$1,630,055 -$180,059	$2,702,654
22	$4,738,429	-$1,713,549 -$189,063	$2,835,817
23	$4,975,277	-$1,801,183 -$198,514	$2,975,580
24	$5,224,103	-$1,893,248 -$208,442	$3,122,413
25	$5,485,246	-$1,989,871 -$218,861	$3,276,514
26	$5,759,610	-$2,091,386 -$229,808	$3,438,416
27	$6,047,534	-$2,197,918 -$241,297	$3,608,319
28	$6,349,922	-$2,309,802 -$253,362	$3,786,758
29	$6,667,452	-$2,427,288 -$266,031	$3,974,133
30	$7,000,802	-$2,550,627 -$279,332	$4,170,843