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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia 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(5.75%) | $9,527,750 | | Net Lumpsum Payment | $94,902,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$305,498 |
$3,081,364 |
| 2 |
$5,578,812 |
$2,024,491
$320,782 |
$3,233,539 |
| 3 |
$5,857,682 |
$2,127,673
$336,817 |
$3,393,192 |
| 4 |
$6,150,672 |
$2,236,079
$353,664 |
$3,560,929 |
| 5 |
$6,458,135 |
$2,349,840
$371,343 |
$3,736,952 |
| 6 |
$6,781,130 |
$2,469,348
$389,915 |
$3,921,867 |
| 7 |
$7,120,010 |
$2,594,734
$409,401 |
$4,115,875 |
| 8 |
$7,476,187 |
$2,726,520
$429,881 |
$4,319,786 |
| 9 |
$7,850,014 |
$2,864,836
$451,376 |
$4,533,802 |
| 10 |
$8,242,550 |
$3,010,074
$473,947 |
$4,758,529 |
| 11 |
$8,654,501 |
$3,162,496
$497,634 |
$4,994,371 |
| 12 |
$9,087,279 |
$3,322,624
$522,519 |
$5,242,136 |
| 13 |
$9,541,590 |
$3,490,719
$548,641 |
$5,502,230 |
| 14 |
$10,018,846 |
$3,667,303
$576,084 |
$5,775,459 |
| 15 |
$10,519,753 |
$3,852,639
$604,886 |
$6,062,228 |
| 16 |
$11,045,723 |
$4,047,248
$635,129 |
$6,363,346 |
| 17 |
$11,597,815 |
$4,251,522
$666,874 |
$6,679,419 |
| 18 |
$12,177,794 |
$4,466,114
$700,223 |
$7,011,457 |
| 19 |
$12,786,719 |
$4,691,416
$735,236 |
$7,360,067 |
| 20 |
$13,426,002 |
$4,927,951
$771,995 |
$7,726,056 |
| 21 |
$14,097,408 |
$5,176,371
$810,601 |
$8,110,436 |
| 22 |
$14,802,349 |
$5,437,200
$851,135 |
$8,514,014 |
| 23 |
$15,542,237 |
$5,710,958
$893,679 |
$8,937,600 |
| 24 |
$16,319,543 |
$5,998,561
$938,374 |
$9,382,608 |
| 25 |
$17,135,326 |
$6,300,401
$985,281 |
$9,849,644 |
| 26 |
$17,992,410 |
$6,617,522
$1,034,564 |
$10,340,324 |
| 27 |
$18,891,854 |
$6,950,316
$1,086,282 |
$10,855,256 |
| 28 |
$19,836,482 |
$7,299,829
$1,140,598 |
$11,396,055 |
| 29 |
$20,828,412 |
$7,666,843
$1,197,634 |
$11,963,935 |
| 30 |
$21,869,762 |
$8,052,142
$1,257,511 |
$12,560,109 |
|
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