The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(3.15%) | $2,510,550 | | Net Lumpsum Payment | $47,740,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$82,495 |
$1,607,065 |
| 2 |
$2,749,896 |
$977,792
$86,622 |
$1,685,482 |
| 3 |
$2,887,356 |
$1,028,652
$90,952 |
$1,767,752 |
| 4 |
$3,031,776 |
$1,082,088
$95,501 |
$1,854,187 |
| 5 |
$3,183,330 |
$1,138,162
$100,275 |
$1,944,893 |
| 6 |
$3,342,540 |
$1,197,070
$105,290 |
$2,040,180 |
| 7 |
$3,509,580 |
$1,258,875
$110,552 |
$2,140,153 |
| 8 |
$3,685,146 |
$1,323,834
$116,082 |
$2,245,230 |
| 9 |
$3,869,412 |
$1,392,013
$121,886 |
$2,355,513 |
| 10 |
$4,062,900 |
$1,463,603
$127,981 |
$2,471,316 |
| 11 |
$4,265,958 |
$1,538,735
$134,378 |
$2,592,845 |
| 12 |
$4,479,282 |
$1,617,665
$141,097 |
$2,720,520 |
| 13 |
$4,703,220 |
$1,700,522
$148,151 |
$2,854,547 |
| 14 |
$4,938,468 |
$1,787,564
$155,562 |
$2,995,342 |
| 15 |
$5,185,374 |
$1,878,919
$163,339 |
$3,143,116 |
| 16 |
$5,444,634 |
$1,974,845
$171,506 |
$3,298,283 |
| 17 |
$5,716,770 |
$2,075,535
$180,078 |
$3,461,157 |
| 18 |
$6,002,652 |
$2,181,312
$189,084 |
$3,632,256 |
| 19 |
$6,302,802 |
$2,292,367
$198,538 |
$3,811,897 |
| 20 |
$6,617,916 |
$2,408,959
$208,464 |
$4,000,493 |
| 21 |
$6,948,864 |
$2,531,410
$218,889 |
$4,198,565 |
| 22 |
$7,296,342 |
$2,659,977
$229,835 |
$4,406,530 |
| 23 |
$7,661,046 |
$2,794,917
$241,323 |
$4,624,806 |
| 24 |
$8,044,194 |
$2,936,682
$253,392 |
$4,854,120 |
| 25 |
$8,446,308 |
$3,085,464
$266,059 |
$5,094,785 |
| 26 |
$8,868,780 |
$3,241,779
$279,367 |
$5,347,634 |
| 27 |
$9,312,132 |
$3,405,819
$293,332 |
$5,612,981 |
| 28 |
$9,777,756 |
$3,578,100
$307,999 |
$5,891,657 |
| 29 |
$10,266,696 |
$3,759,008
$323,401 |
$6,184,287 |
| 30 |
$10,779,996 |
$3,948,929
$339,570 |
$6,491,497 |
|
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