Pennsylvania Lottery

PALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed May 7, 2025 is estimated to be $65 Million, with a cash option of 29.9 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 Pennsylvania, your state will take 3.07% 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.

Pennsylvania Powerball Jackpot/Cash Option for Wed May 7, 2025

Draw Date	Jackpot	Cash Option
Wed May 7, 2025	$65,000,000	$29,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$29,900,000
Federal Tax(24%)	$7,176,000
Additional Federal Tax	$3,847,330
State Tax(3.07%)	$917,930
Net Lumpsum Payment	$17,958,740

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$978,315	-$322,307 -$30,034	$625,974
2	$1,027,260	-$340,417 -$31,537	$655,306
3	$1,078,610	-$359,416 -$33,113	$686,081
4	$1,132,560	-$379,378 -$34,770	$718,412
5	$1,189,175	-$400,325 -$36,508	$752,342
6	$1,248,650	-$422,331 -$38,334	$787,985
7	$1,311,050	-$445,419 -$40,249	$825,382
8	$1,376,635	-$469,685 -$42,263	$864,687
9	$1,445,470	-$495,154 -$44,376	$905,940
10	$1,517,750	-$521,898 -$46,595	$949,257
11	$1,593,605	-$549,964 -$48,924	$994,717
12	$1,673,295	-$579,450 -$51,370	$1,042,475
13	$1,756,950	-$610,402 -$53,938	$1,092,610
14	$1,844,830	-$642,917 -$56,636	$1,145,277
15	$1,937,065	-$677,044 -$59,468	$1,200,553
16	$2,033,915	-$712,879 -$62,441	$1,258,595
17	$2,135,575	-$750,493 -$65,562	$1,319,520
18	$2,242,370	-$790,007 -$68,841	$1,383,522
19	$2,354,495	-$831,494 -$72,283	$1,450,718
20	$2,472,210	-$875,048 -$75,897	$1,521,265
21	$2,595,840	-$920,791 -$79,692	$1,595,357
22	$2,725,645	-$968,819 -$83,677	$1,673,149
23	$2,861,885	-$1,019,228 -$87,860	$1,754,797
24	$3,005,015	-$1,072,186 -$92,254	$1,840,575
25	$3,155,230	-$1,127,765 -$96,866	$1,930,599
26	$3,313,050	-$1,186,159 -$101,711	$2,025,180
27	$3,478,670	-$1,247,438 -$106,795	$2,124,437
28	$3,652,610	-$1,311,796 -$112,135	$2,228,679
29	$3,835,260	-$1,379,377 -$117,742	$2,338,141
30	$4,027,010	-$1,450,324 -$123,629	$2,453,057