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 |
|---|
| Draw Date | Mon Jul 21, 2025 | | Projected Jackpot | $308,000,000 | | Cash Value | $137,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| 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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