South Dakota Lottery

SDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed May 28, 2025 is estimated to be $189 Million, with a cash option of 83.1 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 May 28, 2025

Draw Date	Jackpot	Cash Option
Wed May 28, 2025	$189,000,000	$83,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$83,100,000
Federal Tax(24%)	$19,944,000
Additional Federal Tax	$10,763,330
State Tax(0%)	$0
Net Lumpsum Payment	$52,392,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,844,639	-$1,012,847 -$0	$1,831,792
2	$2,986,956	-$1,065,504 -$0	$1,921,452
3	$3,136,266	-$1,120,749 -$0	$2,015,517
4	$3,293,136	-$1,178,791 -$0	$2,114,345
5	$3,457,755	-$1,239,700 -$0	$2,218,055
6	$3,630,690	-$1,303,686 -$0	$2,327,004
7	$3,812,130	-$1,370,818 -$0	$2,441,312
8	$4,002,831	-$1,441,378 -$0	$2,561,453
9	$4,202,982	-$1,515,434 -$0	$2,687,548
10	$4,413,150	-$1,593,196 -$0	$2,819,954
11	$4,633,713	-$1,674,804 -$0	$2,958,909
12	$4,865,427	-$1,760,538 -$0	$3,104,889
13	$5,108,670	-$1,850,538 -$0	$3,258,132
14	$5,364,198	-$1,945,084 -$0	$3,419,114
15	$5,632,389	-$2,044,314 -$0	$3,588,075
16	$5,913,999	-$2,148,510 -$0	$3,765,489
17	$6,209,595	-$2,257,881 -$0	$3,951,714
18	$6,520,122	-$2,372,776 -$0	$4,147,346
19	$6,846,147	-$2,493,405 -$0	$4,352,742
20	$7,188,426	-$2,620,048 -$0	$4,568,378
21	$7,547,904	-$2,753,055 -$0	$4,794,849
22	$7,925,337	-$2,892,705 -$0	$5,032,632
23	$8,321,481	-$3,039,278 -$0	$5,282,203
24	$8,737,659	-$3,193,264 -$0	$5,544,395
25	$9,174,438	-$3,354,872 -$0	$5,819,566
26	$9,633,330	-$3,524,662 -$0	$6,108,668
27	$10,114,902	-$3,702,844 -$0	$6,412,058
28	$10,620,666	-$3,889,977 -$0	$6,730,689
29	$11,151,756	-$4,086,480 -$0	$7,065,276
30	$11,709,306	-$4,292,774 -$0	$7,416,532