The jackpot for the Powerball draw on Mon Oct 20, 2025, is projected to be $304 Million, with an option for a cash payout of $144.6 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 20, 2025 |
|---|
| Draw Date | Mon Oct 20, 2025 | | Projected Jackpot | $304,000,000 | | Cash Value | $144,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $144,600,000 | | Federal Tax(24%) | $34,704,000 | | Additional Federal Tax | $18,758,330 | | State Tax(4.25%) | $6,145,500 | | Net Lumpsum Payment | $84,992,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,575,504 |
$1,653,267
$194,459 |
$2,727,778 |
| 2 |
$4,804,416 |
$1,737,964
$204,188 |
$2,862,264 |
| 3 |
$5,044,576 |
$1,826,824
$214,394 |
$3,003,358 |
| 4 |
$5,296,896 |
$1,920,182
$225,118 |
$3,151,596 |
| 5 |
$5,561,680 |
$2,018,152
$236,371 |
$3,307,157 |
| 6 |
$5,839,840 |
$2,121,071
$248,193 |
$3,470,576 |
| 7 |
$6,131,680 |
$2,229,052
$260,596 |
$3,642,032 |
| 8 |
$6,438,416 |
$2,342,544
$273,633 |
$3,822,239 |
| 9 |
$6,760,352 |
$2,461,661
$287,315 |
$4,011,376 |
| 10 |
$7,098,400 |
$2,586,738
$301,682 |
$4,209,980 |
| 11 |
$7,453,168 |
$2,718,003
$316,760 |
$4,418,405 |
| 12 |
$7,825,872 |
$2,855,903
$332,600 |
$4,637,369 |
| 13 |
$8,217,120 |
$3,000,665
$349,228 |
$4,867,227 |
| 14 |
$8,628,128 |
$3,152,738
$366,695 |
$5,108,695 |
| 15 |
$9,059,504 |
$3,312,347
$385,029 |
$5,362,128 |
| 16 |
$9,512,464 |
$3,479,942
$404,280 |
$5,628,242 |
| 17 |
$9,987,920 |
$3,655,861
$424,487 |
$5,907,572 |
| 18 |
$10,487,392 |
$3,840,665
$445,714 |
$6,201,013 |
| 19 |
$11,011,792 |
$4,034,693
$468,001 |
$6,509,098 |
| 20 |
$11,562,336 |
$4,238,395
$491,399 |
$6,832,542 |
| 21 |
$12,140,544 |
$4,452,332
$515,973 |
$7,172,239 |
| 22 |
$12,747,632 |
$4,676,954
$541,774 |
$7,528,904 |
| 23 |
$13,384,816 |
$4,912,712
$568,855 |
$7,903,249 |
| 24 |
$14,054,224 |
$5,160,393
$597,305 |
$8,296,526 |
| 25 |
$14,756,768 |
$5,420,335
$627,163 |
$8,709,270 |
| 26 |
$15,494,880 |
$5,693,436
$658,532 |
$9,142,912 |
| 27 |
$16,269,472 |
$5,980,035
$691,453 |
$9,597,984 |
| 28 |
$17,082,976 |
$6,281,032
$726,026 |
$10,075,918 |
| 29 |
$17,937,216 |
$6,597,100
$762,332 |
$10,577,784 |
| 30 |
$18,834,016 |
$6,928,916
$800,446 |
$11,104,654 |
|
|
