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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $7,456,500 | | Net Lumpsum Payment | $96,974,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$239,085 |
$3,147,777 |
| 2 |
$5,578,812 |
$2,024,491
$251,047 |
$3,303,274 |
| 3 |
$5,857,682 |
$2,127,673
$263,596 |
$3,466,413 |
| 4 |
$6,150,672 |
$2,236,079
$276,780 |
$3,637,813 |
| 5 |
$6,458,135 |
$2,349,840
$290,616 |
$3,817,679 |
| 6 |
$6,781,130 |
$2,469,348
$305,151 |
$4,006,631 |
| 7 |
$7,120,010 |
$2,594,734
$320,400 |
$4,204,876 |
| 8 |
$7,476,187 |
$2,726,520
$336,428 |
$4,413,239 |
| 9 |
$7,850,014 |
$2,864,836
$353,251 |
$4,631,927 |
| 10 |
$8,242,550 |
$3,010,074
$370,915 |
$4,861,561 |
| 11 |
$8,654,501 |
$3,162,496
$389,453 |
$5,102,552 |
| 12 |
$9,087,279 |
$3,322,624
$408,928 |
$5,355,727 |
| 13 |
$9,541,590 |
$3,490,719
$429,372 |
$5,621,499 |
| 14 |
$10,018,846 |
$3,667,303
$450,848 |
$5,900,695 |
| 15 |
$10,519,753 |
$3,852,639
$473,389 |
$6,193,725 |
| 16 |
$11,045,723 |
$4,047,248
$497,058 |
$6,501,417 |
| 17 |
$11,597,815 |
$4,251,522
$521,902 |
$6,824,391 |
| 18 |
$12,177,794 |
$4,466,114
$548,001 |
$7,163,679 |
| 19 |
$12,786,719 |
$4,691,416
$575,402 |
$7,519,901 |
| 20 |
$13,426,002 |
$4,927,951
$604,170 |
$7,893,881 |
| 21 |
$14,097,408 |
$5,176,371
$634,383 |
$8,286,654 |
| 22 |
$14,802,349 |
$5,437,200
$666,106 |
$8,699,043 |
| 23 |
$15,542,237 |
$5,710,958
$699,401 |
$9,131,878 |
| 24 |
$16,319,543 |
$5,998,561
$734,379 |
$9,586,603 |
| 25 |
$17,135,326 |
$6,300,401
$771,090 |
$10,063,835 |
| 26 |
$17,992,410 |
$6,617,522
$809,658 |
$10,565,230 |
| 27 |
$18,891,854 |
$6,950,316
$850,133 |
$11,091,405 |
| 28 |
$19,836,482 |
$7,299,829
$892,642 |
$11,644,011 |
| 29 |
$20,828,412 |
$7,666,843
$937,279 |
$12,224,290 |
| 30 |
$21,869,762 |
$8,052,142
$984,139 |
$12,833,481 |
|
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