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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $5,219,550 | | Net Lumpsum Payment | $99,211,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$167,360 |
$3,219,502 |
| 2 |
$5,578,812 |
$2,024,491
$175,733 |
$3,378,588 |
| 3 |
$5,857,682 |
$2,127,673
$184,517 |
$3,545,492 |
| 4 |
$6,150,672 |
$2,236,079
$193,746 |
$3,720,847 |
| 5 |
$6,458,135 |
$2,349,840
$203,431 |
$3,904,864 |
| 6 |
$6,781,130 |
$2,469,348
$213,606 |
$4,098,176 |
| 7 |
$7,120,010 |
$2,594,734
$224,280 |
$4,300,996 |
| 8 |
$7,476,187 |
$2,726,520
$235,500 |
$4,514,167 |
| 9 |
$7,850,014 |
$2,864,836
$247,275 |
$4,737,903 |
| 10 |
$8,242,550 |
$3,010,074
$259,640 |
$4,972,836 |
| 11 |
$8,654,501 |
$3,162,496
$272,617 |
$5,219,388 |
| 12 |
$9,087,279 |
$3,322,624
$286,249 |
$5,478,406 |
| 13 |
$9,541,590 |
$3,490,719
$300,560 |
$5,750,311 |
| 14 |
$10,018,846 |
$3,667,303
$315,594 |
$6,035,949 |
| 15 |
$10,519,753 |
$3,852,639
$331,372 |
$6,335,742 |
| 16 |
$11,045,723 |
$4,047,248
$347,940 |
$6,650,535 |
| 17 |
$11,597,815 |
$4,251,522
$365,331 |
$6,980,962 |
| 18 |
$12,177,794 |
$4,466,114
$383,601 |
$7,328,079 |
| 19 |
$12,786,719 |
$4,691,416
$402,782 |
$7,692,521 |
| 20 |
$13,426,002 |
$4,927,951
$422,919 |
$8,075,132 |
| 21 |
$14,097,408 |
$5,176,371
$444,068 |
$8,476,969 |
| 22 |
$14,802,349 |
$5,437,200
$466,274 |
$8,898,875 |
| 23 |
$15,542,237 |
$5,710,958
$489,580 |
$9,341,699 |
| 24 |
$16,319,543 |
$5,998,561
$514,066 |
$9,806,916 |
| 25 |
$17,135,326 |
$6,300,401
$539,763 |
$10,295,162 |
| 26 |
$17,992,410 |
$6,617,522
$566,761 |
$10,808,127 |
| 27 |
$18,891,854 |
$6,950,316
$595,093 |
$11,346,445 |
| 28 |
$19,836,482 |
$7,299,829
$624,849 |
$11,911,804 |
| 29 |
$20,828,412 |
$7,666,843
$656,095 |
$12,505,474 |
| 30 |
$21,869,762 |
$8,052,142
$688,898 |
$13,128,722 |
|
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