The jackpot for the Powerball draw on Wed Mar 12, 2025, is projected to be $353 Million, with an option for a cash payout of $165.7 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC Powerball Jackpot/Cash Option for Wed Mar 12, 2025 |
|---|
| Draw Date | Wed Mar 12, 2025 | | Projected Jackpot | $353,000,000 | | Cash Value | $165,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $165,700,000 | | Federal Tax(24%) | $39,768,000 | | Additional Federal Tax | $21,501,330 | | State Tax(10.75%) | $17,812,750 | | Net Lumpsum Payment | $86,617,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$571,148 |
$2,815,714 |
| 2 |
$5,578,812 |
$2,024,491
$599,722 |
$2,954,599 |
| 3 |
$5,857,682 |
$2,127,673
$629,701 |
$3,100,308 |
| 4 |
$6,150,672 |
$2,236,079
$661,197 |
$3,253,396 |
| 5 |
$6,458,135 |
$2,349,840
$694,250 |
$3,414,045 |
| 6 |
$6,781,130 |
$2,469,348
$728,971 |
$3,582,811 |
| 7 |
$7,120,010 |
$2,594,734
$765,401 |
$3,759,875 |
| 8 |
$7,476,187 |
$2,726,520
$803,690 |
$3,945,977 |
| 9 |
$7,850,014 |
$2,864,836
$843,877 |
$4,141,301 |
| 10 |
$8,242,550 |
$3,010,074
$886,074 |
$4,346,402 |
| 11 |
$8,654,501 |
$3,162,496
$930,359 |
$4,561,646 |
| 12 |
$9,087,279 |
$3,322,624
$976,882 |
$4,787,773 |
| 13 |
$9,541,590 |
$3,490,719
$1,025,721 |
$5,025,150 |
| 14 |
$10,018,846 |
$3,667,303
$1,077,026 |
$5,274,517 |
| 15 |
$10,519,753 |
$3,852,639
$1,130,873 |
$5,536,241 |
| 16 |
$11,045,723 |
$4,047,248
$1,187,415 |
$5,811,060 |
| 17 |
$11,597,815 |
$4,251,522
$1,246,765 |
$6,099,528 |
| 18 |
$12,177,794 |
$4,466,114
$1,309,113 |
$6,402,567 |
| 19 |
$12,786,719 |
$4,691,416
$1,374,572 |
$6,720,731 |
| 20 |
$13,426,002 |
$4,927,951
$1,443,295 |
$7,054,756 |
| 21 |
$14,097,408 |
$5,176,371
$1,515,471 |
$7,405,566 |
| 22 |
$14,802,349 |
$5,437,200
$1,591,253 |
$7,773,896 |
| 23 |
$15,542,237 |
$5,710,958
$1,670,790 |
$8,160,489 |
| 24 |
$16,319,543 |
$5,998,561
$1,754,351 |
$8,566,631 |
| 25 |
$17,135,326 |
$6,300,401
$1,842,048 |
$8,992,877 |
| 26 |
$17,992,410 |
$6,617,522
$1,934,184 |
$9,440,704 |
| 27 |
$18,891,854 |
$6,950,316
$2,030,874 |
$9,910,664 |
| 28 |
$19,836,482 |
$7,299,829
$2,132,422 |
$10,404,231 |
| 29 |
$20,828,412 |
$7,666,843
$2,239,054 |
$10,922,515 |
| 30 |
$21,869,762 |
$8,052,142
$2,350,999 |
$11,466,621 |
|
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