South Dakota Lottery

SDLottery 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. The good news is that if you're a resident of South Dakota, you won't owe any state tax on 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.

South Dakota 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(0%)	$0
Net Lumpsum Payment	$75,450,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$0	$2,542,952
2	$4,172,256	-$1,504,065 -$0	$2,668,191
3	$4,380,816	-$1,581,232 -$0	$2,799,584
4	$4,599,936	-$1,662,307 -$0	$2,937,629
5	$4,829,880	-$1,747,386 -$0	$3,082,494
6	$5,071,440	-$1,836,763 -$0	$3,234,677
7	$5,324,880	-$1,930,536 -$0	$3,394,344
8	$5,591,256	-$2,029,095 -$0	$3,562,161
9	$5,870,832	-$2,132,538 -$0	$3,738,294
10	$6,164,400	-$2,241,158 -$0	$3,923,242
11	$6,472,488	-$2,355,151 -$0	$4,117,337
12	$6,796,152	-$2,474,907 -$0	$4,321,245
13	$7,135,920	-$2,600,621 -$0	$4,535,299
14	$7,492,848	-$2,732,684 -$0	$4,760,164
15	$7,867,464	-$2,871,292 -$0	$4,996,172
16	$8,260,824	-$3,016,835 -$0	$5,243,989
17	$8,673,720	-$3,169,607 -$0	$5,504,113
18	$9,107,472	-$3,330,095 -$0	$5,777,377
19	$9,562,872	-$3,498,593 -$0	$6,064,279
20	$10,040,976	-$3,675,492 -$0	$6,365,484
21	$10,543,104	-$3,861,279 -$0	$6,681,825
22	$11,070,312	-$4,056,346 -$0	$7,013,966
23	$11,623,656	-$4,261,083 -$0	$7,362,573
24	$12,204,984	-$4,476,174 -$0	$7,728,810
25	$12,815,088	-$4,701,913 -$0	$8,113,175
26	$13,456,080	-$4,939,080 -$0	$8,517,000
27	$14,128,752	-$5,187,969 -$0	$8,940,783
28	$14,835,216	-$5,449,360 -$0	$9,385,856
29	$15,577,056	-$5,723,841 -$0	$9,853,215
30	$16,355,856	-$6,011,997 -$0	$10,343,859