The jackpot for the Powerball draw on Wed Jul 23, 2025, is projected to be $325 Million, with an option for a cash payout of $145.3 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 Jul 23, 2025 |
|---|
| Draw Date | Wed Jul 23, 2025 | | Projected Jackpot | $325,000,000 | | Cash Value | $145,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,300,000 | | Federal Tax(24%) | $34,872,000 | | Additional Federal Tax | $18,849,330 | | State Tax(4.75%) | $6,901,750 | | Net Lumpsum Payment | $84,676,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,891,575 |
$1,770,213
$232,350 |
$2,889,012 |
| 2 |
$5,136,300 |
$1,860,761
$243,974 |
$3,031,565 |
| 3 |
$5,393,050 |
$1,955,759
$256,170 |
$3,181,121 |
| 4 |
$5,662,800 |
$2,055,566
$268,983 |
$3,338,251 |
| 5 |
$5,945,875 |
$2,160,304
$282,429 |
$3,503,142 |
| 6 |
$6,243,250 |
$2,270,333
$296,554 |
$3,676,363 |
| 7 |
$6,555,250 |
$2,385,773
$311,374 |
$3,858,103 |
| 8 |
$6,883,175 |
$2,507,105
$326,951 |
$4,049,119 |
| 9 |
$7,227,350 |
$2,634,450
$343,299 |
$4,249,601 |
| 10 |
$7,588,750 |
$2,768,168
$360,466 |
$4,460,116 |
| 11 |
$7,968,025 |
$2,908,500
$378,481 |
$4,681,044 |
| 12 |
$8,366,475 |
$3,055,926
$397,408 |
$4,913,141 |
| 13 |
$8,784,750 |
$3,210,688
$417,276 |
$5,156,786 |
| 14 |
$9,224,150 |
$3,373,266
$438,147 |
$5,412,737 |
| 15 |
$9,685,325 |
$3,543,901
$460,053 |
$5,681,371 |
| 16 |
$10,169,575 |
$3,723,073
$483,055 |
$5,963,447 |
| 17 |
$10,677,875 |
$3,911,144
$507,199 |
$6,259,532 |
| 18 |
$11,211,850 |
$4,108,715
$532,563 |
$6,570,572 |
| 19 |
$11,772,475 |
$4,316,146
$559,193 |
$6,897,136 |
| 20 |
$12,361,050 |
$4,533,919
$587,150 |
$7,239,981 |
| 21 |
$12,979,200 |
$4,762,634
$616,512 |
$7,600,054 |
| 22 |
$13,628,225 |
$5,002,774
$647,341 |
$7,978,110 |
| 23 |
$14,309,425 |
$5,254,818
$679,698 |
$8,374,909 |
| 24 |
$15,025,075 |
$5,519,608
$713,691 |
$8,791,776 |
| 25 |
$15,776,150 |
$5,797,506
$749,367 |
$9,229,277 |
| 26 |
$16,565,250 |
$6,089,473
$786,849 |
$9,688,928 |
| 27 |
$17,393,350 |
$6,395,870
$826,184 |
$10,171,296 |
| 28 |
$18,263,050 |
$6,717,659
$867,495 |
$10,677,896 |
| 29 |
$19,176,300 |
$7,055,561
$910,874 |
$11,209,865 |
| 30 |
$20,135,050 |
$7,410,299
$956,415 |
$11,768,336 |
|
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