The jackpot for the Powerball draw on Wed Jul 9, 2025, is projected to be $216 Million, with an option for a cash payout of $98.4 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 those living in Tennessee, the bright side is you won't have to pay any state taxes on your lottery prize.
| Tennessee Powerball Jackpot/Cash Option for Wed Jul 9, 2025 |
|---|
| Draw Date | Wed Jul 9, 2025 | | Projected Jackpot | $216,000,000 | | Cash Value | $98,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $98,400,000 | | Federal Tax(24%) | $23,616,000 | | Additional Federal Tax | $12,752,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $62,031,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,251,016 |
$1,163,206
$0 |
$2,087,810 |
| 2 |
$3,413,664 |
$1,223,386
$0 |
$2,190,278 |
| 3 |
$3,584,304 |
$1,286,523
$0 |
$2,297,781 |
| 4 |
$3,763,584 |
$1,352,856
$0 |
$2,410,728 |
| 5 |
$3,951,720 |
$1,422,467
$0 |
$2,529,253 |
| 6 |
$4,149,360 |
$1,495,594
$0 |
$2,653,766 |
| 7 |
$4,356,720 |
$1,572,317
$0 |
$2,784,403 |
| 8 |
$4,574,664 |
$1,652,956
$0 |
$2,921,708 |
| 9 |
$4,803,408 |
$1,737,591
$0 |
$3,065,817 |
| 10 |
$5,043,600 |
$1,826,462
$0 |
$3,217,138 |
| 11 |
$5,295,672 |
$1,919,729
$0 |
$3,375,943 |
| 12 |
$5,560,488 |
$2,017,711
$0 |
$3,542,777 |
| 13 |
$5,838,480 |
$2,120,568
$0 |
$3,717,912 |
| 14 |
$6,130,512 |
$2,228,620
$0 |
$3,901,892 |
| 15 |
$6,437,016 |
$2,342,026
$0 |
$4,094,990 |
| 16 |
$6,758,856 |
$2,461,107
$0 |
$4,297,749 |
| 17 |
$7,096,680 |
$2,586,102
$0 |
$4,510,578 |
| 18 |
$7,451,568 |
$2,717,411
$0 |
$4,734,157 |
| 19 |
$7,824,168 |
$2,855,273
$0 |
$4,968,895 |
| 20 |
$8,215,344 |
$3,000,008
$0 |
$5,215,336 |
| 21 |
$8,626,176 |
$3,152,016
$0 |
$5,474,160 |
| 22 |
$9,057,528 |
$3,311,616
$0 |
$5,745,912 |
| 23 |
$9,510,264 |
$3,479,128
$0 |
$6,031,136 |
| 24 |
$9,985,896 |
$3,655,112
$0 |
$6,330,784 |
| 25 |
$10,485,072 |
$3,839,807
$0 |
$6,645,265 |
| 26 |
$11,009,520 |
$4,033,853
$0 |
$6,975,667 |
| 27 |
$11,559,888 |
$4,237,489
$0 |
$7,322,399 |
| 28 |
$12,137,904 |
$4,451,355
$0 |
$7,686,549 |
| 29 |
$12,744,864 |
$4,675,930
$0 |
$8,068,934 |
| 30 |
$13,382,064 |
$4,911,694
$0 |
$8,470,370 |
|
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