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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $3,180,030 | | Net Lumpsum Payment | $47,070,640 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$104,493 |
$1,585,067 |
| 2 |
$2,749,896 |
$977,792
$109,721 |
$1,662,383 |
| 3 |
$2,887,356 |
$1,028,652
$115,206 |
$1,743,498 |
| 4 |
$3,031,776 |
$1,082,088
$120,968 |
$1,828,720 |
| 5 |
$3,183,330 |
$1,138,162
$127,015 |
$1,918,153 |
| 6 |
$3,342,540 |
$1,197,070
$133,367 |
$2,012,103 |
| 7 |
$3,509,580 |
$1,258,875
$140,032 |
$2,110,673 |
| 8 |
$3,685,146 |
$1,323,834
$147,037 |
$2,214,275 |
| 9 |
$3,869,412 |
$1,392,013
$154,390 |
$2,323,009 |
| 10 |
$4,062,900 |
$1,463,603
$162,110 |
$2,437,187 |
| 11 |
$4,265,958 |
$1,538,735
$170,212 |
$2,557,011 |
| 12 |
$4,479,282 |
$1,617,665
$178,723 |
$2,682,894 |
| 13 |
$4,703,220 |
$1,700,522
$187,658 |
$2,815,040 |
| 14 |
$4,938,468 |
$1,787,564
$197,045 |
$2,953,859 |
| 15 |
$5,185,374 |
$1,878,919
$206,896 |
$3,099,559 |
| 16 |
$5,444,634 |
$1,974,845
$217,241 |
$3,252,548 |
| 17 |
$5,716,770 |
$2,075,535
$228,099 |
$3,413,136 |
| 18 |
$6,002,652 |
$2,181,312
$239,506 |
$3,581,834 |
| 19 |
$6,302,802 |
$2,292,367
$251,482 |
$3,758,953 |
| 20 |
$6,617,916 |
$2,408,959
$264,055 |
$3,944,902 |
| 21 |
$6,948,864 |
$2,531,410
$277,260 |
$4,140,194 |
| 22 |
$7,296,342 |
$2,659,977
$291,124 |
$4,345,241 |
| 23 |
$7,661,046 |
$2,794,917
$305,676 |
$4,560,453 |
| 24 |
$8,044,194 |
$2,936,682
$320,963 |
$4,786,549 |
| 25 |
$8,446,308 |
$3,085,464
$337,008 |
$5,023,836 |
| 26 |
$8,868,780 |
$3,241,779
$353,864 |
$5,273,137 |
| 27 |
$9,312,132 |
$3,405,819
$371,554 |
$5,534,759 |
| 28 |
$9,777,756 |
$3,578,100
$390,132 |
$5,809,524 |
| 29 |
$10,266,696 |
$3,759,008
$409,641 |
$6,098,047 |
| 30 |
$10,779,996 |
$3,948,929
$430,122 |
$6,400,945 |
|
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