Ohio Lottery

OHLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 23, 2025 is estimated to be $128 Million, with a cash option of 57.6 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 Mon Jun 23, 2025

Draw Date	Jackpot	Cash Option
Mon Jun 23, 2025	$128,000,000	$57,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$57,600,000
Federal Tax(24%)	$13,824,000
Additional Federal Tax	$7,448,330
State Tax(3.99%)	$2,298,240
Net Lumpsum Payment	$34,029,430

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,926,528	-$673,146 -$76,868	$1,176,514
2	$2,022,912	-$708,808 -$80,714	$1,233,390
3	$2,124,032	-$746,222 -$84,749	$1,293,061
4	$2,230,272	-$785,531 -$88,988	$1,355,753
5	$2,341,760	-$826,782 -$93,436	$1,421,542
6	$2,458,880	-$870,116 -$98,109	$1,490,655
7	$2,581,760	-$915,582 -$103,012	$1,563,166
8	$2,710,912	-$963,368 -$108,165	$1,639,379
9	$2,846,464	-$1,013,522 -$113,574	$1,719,368
10	$2,988,800	-$1,066,186 -$119,253	$1,803,361
11	$3,138,176	-$1,121,456 -$125,213	$1,891,507
12	$3,295,104	-$1,179,519 -$131,475	$1,984,110
13	$3,459,840	-$1,240,471 -$138,048	$2,081,321
14	$3,632,896	-$1,304,502 -$144,953	$2,183,441
15	$3,814,528	-$1,371,706 -$152,200	$2,290,622
16	$4,005,248	-$1,442,272 -$159,809	$2,403,167
17	$4,205,440	-$1,516,343 -$167,797	$2,521,300
18	$4,415,744	-$1,594,156 -$176,188	$2,645,400
19	$4,636,544	-$1,675,852 -$184,998	$2,775,694
20	$4,868,352	-$1,761,621 -$194,247	$2,912,484
21	$5,111,808	-$1,851,699 -$203,961	$3,056,148
22	$5,367,424	-$1,946,277 -$214,160	$3,206,987
23	$5,635,712	-$2,045,544 -$224,865	$3,365,303
24	$5,917,568	-$2,149,831 -$236,111	$3,531,626
25	$6,213,376	-$2,259,280 -$247,914	$3,706,182
26	$6,524,160	-$2,374,270 -$260,314	$3,889,576
27	$6,850,304	-$2,494,943 -$273,327	$4,082,034
28	$7,192,832	-$2,621,678 -$286,994	$4,284,160
29	$7,552,512	-$2,754,760 -$301,345	$4,496,407
30	$7,930,112	-$2,894,472 -$316,411	$4,719,229