The jackpot for the Powerball draw on Sat Jul 19, 2025, is projected to be $288 Million, with an option for a cash payout of $130.6 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 Sat Jul 19, 2025 |
|---|
| Draw Date | Sat Jul 19, 2025 | | Projected Jackpot | $288,000,000 | | Cash Value | $130,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $130,600,000 | | Federal Tax(24%) | $31,344,000 | | Additional Federal Tax | $16,938,330 | | State Tax(4.25%) | $5,550,500 | | Net Lumpsum Payment | $76,767,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,334,688 |
$1,564,165
$184,224 |
$2,586,299 |
| 2 |
$4,551,552 |
$1,644,405
$193,441 |
$2,713,706 |
| 3 |
$4,779,072 |
$1,728,587
$203,111 |
$2,847,374 |
| 4 |
$5,018,112 |
$1,817,032
$213,270 |
$2,987,810 |
| 5 |
$5,268,960 |
$1,909,846
$223,931 |
$3,135,183 |
| 6 |
$5,532,480 |
$2,007,348
$235,130 |
$3,290,002 |
| 7 |
$5,808,960 |
$2,109,646
$246,881 |
$3,452,433 |
| 8 |
$6,099,552 |
$2,217,165
$259,231 |
$3,623,156 |
| 9 |
$6,404,544 |
$2,330,012
$272,193 |
$3,802,339 |
| 10 |
$6,724,800 |
$2,448,506
$285,804 |
$3,990,490 |
| 11 |
$7,060,896 |
$2,572,862
$300,088 |
$4,187,946 |
| 12 |
$7,413,984 |
$2,703,504
$315,094 |
$4,395,386 |
| 13 |
$7,784,640 |
$2,840,647
$330,847 |
$4,613,146 |
| 14 |
$8,174,016 |
$2,984,716
$347,396 |
$4,841,904 |
| 15 |
$8,582,688 |
$3,135,925
$364,764 |
$5,081,999 |
| 16 |
$9,011,808 |
$3,294,699
$383,002 |
$5,334,107 |
| 17 |
$9,462,240 |
$3,461,359
$402,145 |
$5,598,736 |
| 18 |
$9,935,424 |
$3,636,437
$422,256 |
$5,876,731 |
| 19 |
$10,432,224 |
$3,820,253
$443,370 |
$6,168,601 |
| 20 |
$10,953,792 |
$4,013,233
$465,536 |
$6,475,023 |
| 21 |
$11,501,568 |
$4,215,911
$488,817 |
$6,796,840 |
| 22 |
$12,076,704 |
$4,428,711
$513,260 |
$7,134,733 |
| 23 |
$12,680,352 |
$4,652,061
$538,915 |
$7,489,376 |
| 24 |
$13,314,528 |
$4,886,706
$565,867 |
$7,861,955 |
| 25 |
$13,980,096 |
$5,132,966
$594,154 |
$8,252,976 |
| 26 |
$14,679,360 |
$5,391,694
$623,873 |
$8,663,793 |
| 27 |
$15,413,184 |
$5,663,208
$655,060 |
$9,094,916 |
| 28 |
$16,183,872 |
$5,948,363
$687,815 |
$9,547,694 |
| 29 |
$16,993,152 |
$6,247,797
$722,209 |
$10,023,146 |
| 30 |
$17,842,752 |
$6,562,149
$758,317 |
$10,522,286 |
|
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