The jackpot for the Powerball draw on Wed Jul 30, 2025, is projected to be $384 Million, with an option for a cash payout of $173.1 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 30, 2025 |
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Draw Date | Wed Jul 30, 2025 | Projected Jackpot | $384,000,000 | Cash Value | $173,100,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $173,100,000 | Federal Tax(24%) | $41,544,000 | Additional Federal Tax | $22,463,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $109,092,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$5,779,584 |
$2,098,776 $0 |
$3,680,808 |
2 |
$6,068,736 |
$2,205,763 $0 |
$3,862,973 |
3 |
$6,372,096 |
$2,318,006 $0 |
$4,054,090 |
4 |
$6,690,816 |
$2,435,932 $0 |
$4,254,884 |
5 |
$7,025,280 |
$2,559,684 $0 |
$4,465,596 |
6 |
$7,376,640 |
$2,689,687 $0 |
$4,686,953 |
7 |
$7,745,280 |
$2,826,084 $0 |
$4,919,196 |
8 |
$8,132,736 |
$2,969,443 $0 |
$5,163,293 |
9 |
$8,539,392 |
$3,119,905 $0 |
$5,419,487 |
10 |
$8,966,400 |
$3,277,898 $0 |
$5,688,502 |
11 |
$9,414,528 |
$3,443,706 $0 |
$5,970,822 |
12 |
$9,885,312 |
$3,617,896 $0 |
$6,267,416 |
13 |
$10,379,520 |
$3,800,753 $0 |
$6,578,767 |
14 |
$10,898,688 |
$3,992,845 $0 |
$6,905,843 |
15 |
$11,443,584 |
$4,194,456 $0 |
$7,249,128 |
16 |
$12,015,744 |
$4,406,156 $0 |
$7,609,588 |
17 |
$12,616,320 |
$4,628,369 $0 |
$7,987,951 |
18 |
$13,247,232 |
$4,861,806 $0 |
$8,385,426 |
19 |
$13,909,632 |
$5,106,894 $0 |
$8,802,738 |
20 |
$14,605,056 |
$5,364,201 $0 |
$9,240,855 |
21 |
$15,335,424 |
$5,634,437 $0 |
$9,700,987 |
22 |
$16,102,272 |
$5,918,171 $0 |
$10,184,101 |
23 |
$16,907,136 |
$6,215,971 $0 |
$10,691,165 |
24 |
$17,752,704 |
$6,528,831 $0 |
$11,223,873 |
25 |
$18,640,128 |
$6,857,178 $0 |
$11,782,950 |
26 |
$19,572,480 |
$7,202,148 $0 |
$12,370,332 |
27 |
$20,550,912 |
$7,564,168 $0 |
$12,986,744 |
28 |
$21,578,496 |
$7,944,374 $0 |
$13,634,122 |
29 |
$22,657,536 |
$8,343,619 $0 |
$14,313,917 |
30 |
$23,790,336 |
$8,762,755 $0 |
$15,027,581 |
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