The jackpot for the Powerball draw on Sat Nov 8, 2025, is projected to be $467 Million, with an option for a cash payout of $220.7 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Sat Nov 8, 2025 |
|---|
| Draw Date | Sat Nov 8, 2025 | | Projected Jackpot | $467,000,000 | | Cash Value | $220,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,700,000 | | Federal Tax(24%) | $52,968,000 | | Additional Federal Tax | $28,651,330 | | State Tax(4.25%) | $9,379,750 | | Net Lumpsum Payment | $129,700,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,028,817 |
$2,560,993
$298,725 |
$4,169,099 |
| 2 |
$7,380,468 |
$2,691,104
$313,670 |
$4,375,694 |
| 3 |
$7,749,398 |
$2,827,608
$329,349 |
$4,592,441 |
| 4 |
$8,137,008 |
$2,971,023
$345,823 |
$4,820,162 |
| 5 |
$8,543,765 |
$3,121,523
$363,110 |
$5,059,132 |
| 6 |
$8,971,070 |
$3,279,626
$381,270 |
$5,310,174 |
| 7 |
$9,419,390 |
$3,445,505
$400,324 |
$5,573,561 |
| 8 |
$9,890,593 |
$3,619,850
$420,350 |
$5,850,393 |
| 9 |
$10,385,146 |
$3,802,834
$441,369 |
$6,140,943 |
| 10 |
$10,904,450 |
$3,994,977
$463,439 |
$6,446,034 |
| 11 |
$11,449,439 |
$4,196,623
$486,601 |
$6,766,215 |
| 12 |
$12,021,981 |
$4,408,463
$510,934 |
$7,102,584 |
| 13 |
$12,623,010 |
$4,630,844
$536,478 |
$7,455,688 |
| 14 |
$13,254,394 |
$4,864,456
$563,312 |
$7,826,626 |
| 15 |
$13,917,067 |
$5,109,645
$591,475 |
$8,215,947 |
| 16 |
$14,612,897 |
$5,367,102
$621,048 |
$8,624,747 |
| 17 |
$15,343,285 |
$5,637,346
$652,090 |
$9,053,849 |
| 18 |
$16,110,566 |
$5,921,240
$684,699 |
$9,504,627 |
| 19 |
$16,916,141 |
$6,219,303
$718,936 |
$9,977,902 |
| 20 |
$17,761,878 |
$6,532,225
$754,880 |
$10,474,773 |
| 21 |
$18,650,112 |
$6,860,872
$792,630 |
$10,996,610 |
| 22 |
$19,582,711 |
$7,205,933
$832,265 |
$11,544,513 |
| 23 |
$20,561,543 |
$7,568,101
$873,866 |
$12,119,576 |
| 24 |
$21,589,877 |
$7,948,585
$917,570 |
$12,723,722 |
| 25 |
$22,669,114 |
$8,347,903
$963,437 |
$13,357,774 |
| 26 |
$23,802,990 |
$8,767,437
$1,011,627 |
$14,023,926 |
| 27 |
$24,992,906 |
$9,207,706
$1,062,199 |
$14,723,001 |
| 28 |
$26,242,598 |
$9,670,092
$1,115,310 |
$15,457,196 |
| 29 |
$27,554,868 |
$10,155,632
$1,171,082 |
$16,228,154 |
| 30 |
$28,932,518 |
$10,665,362
$1,229,632 |
$17,037,524 |
|
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