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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $7,870,750 | | Net Lumpsum Payment | $96,559,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$252,368 |
$3,134,494 |
| 2 |
$5,578,812 |
$2,024,491
$264,994 |
$3,289,327 |
| 3 |
$5,857,682 |
$2,127,673
$278,240 |
$3,451,769 |
| 4 |
$6,150,672 |
$2,236,079
$292,157 |
$3,622,436 |
| 5 |
$6,458,135 |
$2,349,840
$306,761 |
$3,801,534 |
| 6 |
$6,781,130 |
$2,469,348
$322,104 |
$3,989,678 |
| 7 |
$7,120,010 |
$2,594,734
$338,200 |
$4,187,076 |
| 8 |
$7,476,187 |
$2,726,520
$355,119 |
$4,394,548 |
| 9 |
$7,850,014 |
$2,864,836
$372,876 |
$4,612,302 |
| 10 |
$8,242,550 |
$3,010,074
$391,521 |
$4,840,955 |
| 11 |
$8,654,501 |
$3,162,496
$411,089 |
$5,080,916 |
| 12 |
$9,087,279 |
$3,322,624
$431,646 |
$5,333,009 |
| 13 |
$9,541,590 |
$3,490,719
$453,226 |
$5,597,645 |
| 14 |
$10,018,846 |
$3,667,303
$475,895 |
$5,875,648 |
| 15 |
$10,519,753 |
$3,852,639
$499,688 |
$6,167,426 |
| 16 |
$11,045,723 |
$4,047,248
$524,672 |
$6,473,803 |
| 17 |
$11,597,815 |
$4,251,522
$550,896 |
$6,795,397 |
| 18 |
$12,177,794 |
$4,466,114
$578,445 |
$7,133,235 |
| 19 |
$12,786,719 |
$4,691,416
$607,369 |
$7,487,934 |
| 20 |
$13,426,002 |
$4,927,951
$637,735 |
$7,860,316 |
| 21 |
$14,097,408 |
$5,176,371
$669,627 |
$8,251,410 |
| 22 |
$14,802,349 |
$5,437,200
$703,112 |
$8,662,037 |
| 23 |
$15,542,237 |
$5,710,958
$738,256 |
$9,093,023 |
| 24 |
$16,319,543 |
$5,998,561
$775,178 |
$9,545,804 |
| 25 |
$17,135,326 |
$6,300,401
$813,928 |
$10,020,997 |
| 26 |
$17,992,410 |
$6,617,522
$854,639 |
$10,520,249 |
| 27 |
$18,891,854 |
$6,950,316
$897,363 |
$11,044,175 |
| 28 |
$19,836,482 |
$7,299,829
$942,233 |
$11,594,420 |
| 29 |
$20,828,412 |
$7,666,843
$989,350 |
$12,172,219 |
| 30 |
$21,869,762 |
$8,052,142
$1,038,814 |
$12,778,806 |
|
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