The jackpot for the Powerball draw on Mon Jul 14, 2025, is projected to be $248 Million, with an option for a cash payout of $112.4 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For those living in California, the bright side is you won't have to pay any state taxes on your lottery prize.
| California Powerball Jackpot/Cash Option for Mon Jul 14, 2025 |
|---|
| Draw Date | Mon Jul 14, 2025 | | Projected Jackpot | $248,000,000 | | Cash Value | $112,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $112,400,000 | | Federal Tax(24%) | $26,976,000 | | Additional Federal Tax | $14,572,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $70,851,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,732,648 |
$1,341,410
$0 |
$2,391,238 |
| 2 |
$3,919,392 |
$1,410,505
$0 |
$2,508,887 |
| 3 |
$4,115,312 |
$1,482,996
$0 |
$2,632,316 |
| 4 |
$4,321,152 |
$1,559,157
$0 |
$2,761,995 |
| 5 |
$4,537,160 |
$1,639,080
$0 |
$2,898,080 |
| 6 |
$4,764,080 |
$1,723,040
$0 |
$3,041,040 |
| 7 |
$5,002,160 |
$1,811,130
$0 |
$3,191,030 |
| 8 |
$5,252,392 |
$1,903,715
$0 |
$3,348,677 |
| 9 |
$5,515,024 |
$2,000,889
$0 |
$3,514,135 |
| 10 |
$5,790,800 |
$2,102,926
$0 |
$3,687,874 |
| 11 |
$6,080,216 |
$2,210,010
$0 |
$3,870,206 |
| 12 |
$6,384,264 |
$2,322,508
$0 |
$4,061,756 |
| 13 |
$6,703,440 |
$2,440,603
$0 |
$4,262,837 |
| 14 |
$7,038,736 |
$2,564,663
$0 |
$4,474,073 |
| 15 |
$7,390,648 |
$2,694,870
$0 |
$4,695,778 |
| 16 |
$7,760,168 |
$2,831,593
$0 |
$4,928,575 |
| 17 |
$8,148,040 |
$2,975,105
$0 |
$5,172,935 |
| 18 |
$8,555,504 |
$3,125,867
$0 |
$5,429,637 |
| 19 |
$8,983,304 |
$3,284,153
$0 |
$5,699,151 |
| 20 |
$9,432,432 |
$3,450,330
$0 |
$5,982,102 |
| 21 |
$9,904,128 |
$3,624,858
$0 |
$6,279,270 |
| 22 |
$10,399,384 |
$3,808,102
$0 |
$6,591,282 |
| 23 |
$10,919,192 |
$4,000,431
$0 |
$6,918,761 |
| 24 |
$11,465,288 |
$4,202,487
$0 |
$7,262,801 |
| 25 |
$12,038,416 |
$4,414,544
$0 |
$7,623,872 |
| 26 |
$12,640,560 |
$4,637,338
$0 |
$8,003,222 |
| 27 |
$13,272,464 |
$4,871,142
$0 |
$8,401,322 |
| 28 |
$13,936,112 |
$5,116,692
$0 |
$8,819,420 |
| 29 |
$14,632,992 |
$5,374,537
$0 |
$9,258,455 |
| 30 |
$15,364,592 |
$5,645,229
$0 |
$9,719,363 |
|
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