The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(4.75%) | $3,785,750 | | Net Lumpsum Payment | $46,464,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$124,397 |
$1,565,163 |
| 2 |
$2,749,896 |
$977,792
$130,620 |
$1,641,484 |
| 3 |
$2,887,356 |
$1,028,652
$137,149 |
$1,721,555 |
| 4 |
$3,031,776 |
$1,082,088
$144,009 |
$1,805,679 |
| 5 |
$3,183,330 |
$1,138,162
$151,208 |
$1,893,960 |
| 6 |
$3,342,540 |
$1,197,070
$158,771 |
$1,986,699 |
| 7 |
$3,509,580 |
$1,258,875
$166,705 |
$2,084,000 |
| 8 |
$3,685,146 |
$1,323,834
$175,044 |
$2,186,268 |
| 9 |
$3,869,412 |
$1,392,013
$183,797 |
$2,293,602 |
| 10 |
$4,062,900 |
$1,463,603
$192,988 |
$2,406,309 |
| 11 |
$4,265,958 |
$1,538,735
$202,633 |
$2,524,590 |
| 12 |
$4,479,282 |
$1,617,665
$212,766 |
$2,648,851 |
| 13 |
$4,703,220 |
$1,700,522
$223,403 |
$2,779,295 |
| 14 |
$4,938,468 |
$1,787,564
$234,577 |
$2,916,327 |
| 15 |
$5,185,374 |
$1,878,919
$246,305 |
$3,060,150 |
| 16 |
$5,444,634 |
$1,974,845
$258,620 |
$3,211,169 |
| 17 |
$5,716,770 |
$2,075,535
$271,547 |
$3,369,688 |
| 18 |
$6,002,652 |
$2,181,312
$285,126 |
$3,536,214 |
| 19 |
$6,302,802 |
$2,292,367
$299,383 |
$3,711,052 |
| 20 |
$6,617,916 |
$2,408,959
$314,351 |
$3,894,606 |
| 21 |
$6,948,864 |
$2,531,410
$330,071 |
$4,087,383 |
| 22 |
$7,296,342 |
$2,659,977
$346,576 |
$4,289,789 |
| 23 |
$7,661,046 |
$2,794,917
$363,900 |
$4,502,229 |
| 24 |
$8,044,194 |
$2,936,682
$382,099 |
$4,725,413 |
| 25 |
$8,446,308 |
$3,085,464
$401,200 |
$4,959,644 |
| 26 |
$8,868,780 |
$3,241,779
$421,267 |
$5,205,734 |
| 27 |
$9,312,132 |
$3,405,819
$442,326 |
$5,463,987 |
| 28 |
$9,777,756 |
$3,578,100
$464,443 |
$5,735,213 |
| 29 |
$10,266,696 |
$3,759,008
$487,668 |
$6,020,020 |
| 30 |
$10,779,996 |
$3,948,929
$512,050 |
$6,319,017 |
|
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