The jackpot for the Powerball draw on Mon Jul 21, 2025, is projected to be $308 Million, with an option for a cash payout of $137.7 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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.
Washington Powerball Jackpot/Cash Option for Mon Jul 21, 2025 |
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Draw Date | Mon Jul 21, 2025 | Projected Jackpot | $308,000,000 | Cash Value | $137,700,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $137,700,000 | Federal Tax(24%) | $33,048,000 | Additional Federal Tax | $17,861,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $86,790,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,635,708 |
$1,675,542 $0 |
$2,960,166 |
2 |
$4,867,632 |
$1,761,354 $0 |
$3,106,278 |
3 |
$5,110,952 |
$1,851,383 $0 |
$3,259,569 |
4 |
$5,366,592 |
$1,945,969 $0 |
$3,420,623 |
5 |
$5,634,860 |
$2,045,229 $0 |
$3,589,631 |
6 |
$5,916,680 |
$2,149,502 $0 |
$3,767,178 |
7 |
$6,212,360 |
$2,258,904 $0 |
$3,953,456 |
8 |
$6,523,132 |
$2,373,889 $0 |
$4,149,243 |
9 |
$6,849,304 |
$2,494,573 $0 |
$4,354,731 |
10 |
$7,191,800 |
$2,621,296 $0 |
$4,570,504 |
11 |
$7,551,236 |
$2,754,288 $0 |
$4,796,948 |
12 |
$7,928,844 |
$2,894,003 $0 |
$5,034,841 |
13 |
$8,325,240 |
$3,040,669 $0 |
$5,284,571 |
14 |
$8,741,656 |
$3,194,743 $0 |
$5,546,913 |
15 |
$9,178,708 |
$3,356,452 $0 |
$5,822,256 |
16 |
$9,637,628 |
$3,526,253 $0 |
$6,111,375 |
17 |
$10,119,340 |
$3,704,486 $0 |
$6,414,854 |
18 |
$10,625,384 |
$3,891,722 $0 |
$6,733,662 |
19 |
$11,156,684 |
$4,088,303 $0 |
$7,068,381 |
20 |
$11,714,472 |
$4,294,685 $0 |
$7,419,787 |
21 |
$12,300,288 |
$4,511,437 $0 |
$7,788,851 |
22 |
$12,915,364 |
$4,739,015 $0 |
$8,176,349 |
23 |
$13,560,932 |
$4,977,875 $0 |
$8,583,057 |
24 |
$14,239,148 |
$5,228,815 $0 |
$9,010,333 |
25 |
$14,950,936 |
$5,492,177 $0 |
$9,458,759 |
26 |
$15,698,760 |
$5,768,872 $0 |
$9,929,888 |
27 |
$16,483,544 |
$6,059,242 $0 |
$10,424,302 |
28 |
$17,307,752 |
$6,364,199 $0 |
$10,943,553 |
29 |
$18,173,232 |
$6,684,426 $0 |
$11,488,806 |
30 |
$19,081,832 |
$7,020,608 $0 |
$12,061,224 |
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