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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho 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(5.8%) | $9,610,600 | | Net Lumpsum Payment | $94,820,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$308,154 |
$3,078,708 |
| 2 |
$5,578,812 |
$2,024,491
$323,571 |
$3,230,750 |
| 3 |
$5,857,682 |
$2,127,673
$339,746 |
$3,390,263 |
| 4 |
$6,150,672 |
$2,236,079
$356,739 |
$3,557,854 |
| 5 |
$6,458,135 |
$2,349,840
$374,572 |
$3,733,723 |
| 6 |
$6,781,130 |
$2,469,348
$393,306 |
$3,918,476 |
| 7 |
$7,120,010 |
$2,594,734
$412,961 |
$4,112,315 |
| 8 |
$7,476,187 |
$2,726,520
$433,619 |
$4,316,048 |
| 9 |
$7,850,014 |
$2,864,836
$455,301 |
$4,529,877 |
| 10 |
$8,242,550 |
$3,010,074
$478,068 |
$4,754,408 |
| 11 |
$8,654,501 |
$3,162,496
$501,961 |
$4,990,044 |
| 12 |
$9,087,279 |
$3,322,624
$527,062 |
$5,237,593 |
| 13 |
$9,541,590 |
$3,490,719
$553,412 |
$5,497,459 |
| 14 |
$10,018,846 |
$3,667,303
$581,093 |
$5,770,450 |
| 15 |
$10,519,753 |
$3,852,639
$610,146 |
$6,056,968 |
| 16 |
$11,045,723 |
$4,047,248
$640,652 |
$6,357,823 |
| 17 |
$11,597,815 |
$4,251,522
$672,673 |
$6,673,620 |
| 18 |
$12,177,794 |
$4,466,114
$706,312 |
$7,005,368 |
| 19 |
$12,786,719 |
$4,691,416
$741,630 |
$7,353,673 |
| 20 |
$13,426,002 |
$4,927,951
$778,708 |
$7,719,343 |
| 21 |
$14,097,408 |
$5,176,371
$817,650 |
$8,103,387 |
| 22 |
$14,802,349 |
$5,437,200
$858,536 |
$8,506,613 |
| 23 |
$15,542,237 |
$5,710,958
$901,450 |
$8,929,829 |
| 24 |
$16,319,543 |
$5,998,561
$946,533 |
$9,374,449 |
| 25 |
$17,135,326 |
$6,300,401
$993,849 |
$9,841,076 |
| 26 |
$17,992,410 |
$6,617,522
$1,043,560 |
$10,331,328 |
| 27 |
$18,891,854 |
$6,950,316
$1,095,728 |
$10,845,810 |
| 28 |
$19,836,482 |
$7,299,829
$1,150,516 |
$11,386,137 |
| 29 |
$20,828,412 |
$7,666,843
$1,208,048 |
$11,953,521 |
| 30 |
$21,869,762 |
$8,052,142
$1,268,446 |
$12,549,174 |
|
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