The jackpot for the Powerball draw on Mon Oct 13, 2025, is projected to be $258 Million, with an option for a cash payout of $120.8 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
Michigan Powerball Jackpot/Cash Option for Mon Oct 13, 2025 |
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Draw Date | Mon Oct 13, 2025 | Projected Jackpot | $258,000,000 | Cash Value | $120,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $120,800,000 | Federal Tax(24%) | $28,992,000 | Additional Federal Tax | $15,664,330 | State Tax(4.25%) | $5,134,000 | Net Lumpsum Payment | $71,009,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$3,883,158 |
$1,397,099 $165,034 |
$2,321,025 |
2 |
$4,077,432 |
$1,468,980 $173,291 |
$2,435,161 |
3 |
$4,281,252 |
$1,544,394 $181,953 |
$2,554,905 |
4 |
$4,495,392 |
$1,623,625 $191,054 |
$2,680,713 |
5 |
$4,720,110 |
$1,706,771 $200,605 |
$2,812,734 |
6 |
$4,956,180 |
$1,794,117 $210,638 |
$2,951,425 |
7 |
$5,203,860 |
$1,885,759 $221,164 |
$3,096,937 |
8 |
$5,464,182 |
$1,982,078 $232,228 |
$3,249,876 |
9 |
$5,737,404 |
$2,083,170 $243,840 |
$3,410,394 |
10 |
$6,024,300 |
$2,189,321 $256,033 |
$3,578,946 |
11 |
$6,325,386 |
$2,300,723 $268,829 |
$3,755,834 |
12 |
$6,641,694 |
$2,417,757 $282,272 |
$3,941,665 |
13 |
$6,973,740 |
$2,540,614 $296,384 |
$4,136,742 |
14 |
$7,322,556 |
$2,669,676 $311,209 |
$4,341,671 |
15 |
$7,688,658 |
$2,805,134 $326,768 |
$4,556,756 |
16 |
$8,073,078 |
$2,947,369 $343,106 |
$4,782,603 |
17 |
$8,476,590 |
$3,096,669 $360,255 |
$5,019,666 |
18 |
$8,900,484 |
$3,253,509 $378,271 |
$5,268,704 |
19 |
$9,345,534 |
$3,418,178 $397,185 |
$5,530,171 |
20 |
$9,812,772 |
$3,591,056 $417,043 |
$5,804,673 |
21 |
$10,303,488 |
$3,772,621 $437,898 |
$6,092,969 |
22 |
$10,818,714 |
$3,963,255 $459,795 |
$6,395,664 |
23 |
$11,359,482 |
$4,163,339 $482,778 |
$6,713,365 |
24 |
$11,927,598 |
$4,373,542 $506,923 |
$7,047,133 |
25 |
$12,523,836 |
$4,594,150 $532,263 |
$7,397,423 |
26 |
$13,150,260 |
$4,825,927 $558,886 |
$7,765,447 |
27 |
$13,807,644 |
$5,069,159 $586,825 |
$8,151,660 |
28 |
$14,498,052 |
$5,324,610 $616,167 |
$8,557,275 |
29 |
$15,223,032 |
$5,592,852 $646,979 |
$8,983,201 |
30 |
$15,984,132 |
$5,874,459 $679,326 |
$9,430,347 |
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