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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $5,086,990 | | Net Lumpsum Payment | $99,343,680 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$163,109 |
$3,223,753 |
| 2 |
$5,578,812 |
$2,024,491
$171,270 |
$3,383,051 |
| 3 |
$5,857,682 |
$2,127,673
$179,831 |
$3,550,178 |
| 4 |
$6,150,672 |
$2,236,079
$188,826 |
$3,725,767 |
| 5 |
$6,458,135 |
$2,349,840
$198,265 |
$3,910,030 |
| 6 |
$6,781,130 |
$2,469,348
$208,181 |
$4,103,601 |
| 7 |
$7,120,010 |
$2,594,734
$218,584 |
$4,306,692 |
| 8 |
$7,476,187 |
$2,726,520
$229,519 |
$4,520,148 |
| 9 |
$7,850,014 |
$2,864,836
$240,995 |
$4,744,183 |
| 10 |
$8,242,550 |
$3,010,074
$253,046 |
$4,979,430 |
| 11 |
$8,654,501 |
$3,162,496
$265,693 |
$5,226,312 |
| 12 |
$9,087,279 |
$3,322,624
$278,979 |
$5,485,676 |
| 13 |
$9,541,590 |
$3,490,719
$292,927 |
$5,757,944 |
| 14 |
$10,018,846 |
$3,667,303
$307,579 |
$6,043,964 |
| 15 |
$10,519,753 |
$3,852,639
$322,956 |
$6,344,158 |
| 16 |
$11,045,723 |
$4,047,248
$339,104 |
$6,659,371 |
| 17 |
$11,597,815 |
$4,251,522
$356,053 |
$6,990,240 |
| 18 |
$12,177,794 |
$4,466,114
$373,858 |
$7,337,822 |
| 19 |
$12,786,719 |
$4,691,416
$392,552 |
$7,702,751 |
| 20 |
$13,426,002 |
$4,927,951
$412,178 |
$8,085,873 |
| 21 |
$14,097,408 |
$5,176,371
$432,790 |
$8,488,247 |
| 22 |
$14,802,349 |
$5,437,200
$454,432 |
$8,910,717 |
| 23 |
$15,542,237 |
$5,710,958
$477,147 |
$9,354,132 |
| 24 |
$16,319,543 |
$5,998,561
$501,010 |
$9,819,972 |
| 25 |
$17,135,326 |
$6,300,401
$526,055 |
$10,308,870 |
| 26 |
$17,992,410 |
$6,617,522
$552,367 |
$10,822,521 |
| 27 |
$18,891,854 |
$6,950,316
$579,980 |
$11,361,558 |
| 28 |
$19,836,482 |
$7,299,829
$608,980 |
$11,927,673 |
| 29 |
$20,828,412 |
$7,666,843
$639,432 |
$12,522,137 |
| 30 |
$21,869,762 |
$8,052,142
$671,402 |
$13,146,218 |
|
|
