The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $23,790,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$0 |
$817,204 |
| 2 |
$1,295,928 |
$439,824
$0 |
$856,104 |
| 3 |
$1,360,708 |
$463,792
$0 |
$896,916 |
| 4 |
$1,428,768 |
$488,975
$0 |
$939,793 |
| 5 |
$1,500,190 |
$515,401
$0 |
$984,789 |
| 6 |
$1,575,220 |
$543,162
$0 |
$1,032,058 |
| 7 |
$1,653,940 |
$572,288
$0 |
$1,081,652 |
| 8 |
$1,736,678 |
$602,901
$0 |
$1,133,777 |
| 9 |
$1,823,516 |
$635,031
$0 |
$1,188,485 |
| 10 |
$1,914,700 |
$668,769
$0 |
$1,245,931 |
| 11 |
$2,010,394 |
$704,176
$0 |
$1,306,218 |
| 12 |
$2,110,926 |
$741,373
$0 |
$1,369,553 |
| 13 |
$2,216,460 |
$780,421
$0 |
$1,436,039 |
| 14 |
$2,327,324 |
$821,440
$0 |
$1,505,884 |
| 15 |
$2,443,682 |
$864,493
$0 |
$1,579,189 |
| 16 |
$2,565,862 |
$909,699
$0 |
$1,656,163 |
| 17 |
$2,694,110 |
$957,151
$0 |
$1,736,959 |
| 18 |
$2,828,836 |
$1,007,000
$0 |
$1,821,836 |
| 19 |
$2,970,286 |
$1,059,336
$0 |
$1,910,950 |
| 20 |
$3,118,788 |
$1,114,282
$0 |
$2,004,506 |
| 21 |
$3,274,752 |
$1,171,989
$0 |
$2,102,763 |
| 22 |
$3,438,506 |
$1,232,578
$0 |
$2,205,928 |
| 23 |
$3,610,378 |
$1,296,170
$0 |
$2,314,208 |
| 24 |
$3,790,942 |
$1,362,979
$0 |
$2,427,963 |
| 25 |
$3,980,444 |
$1,433,095
$0 |
$2,547,349 |
| 26 |
$4,179,540 |
$1,506,760
$0 |
$2,672,780 |
| 27 |
$4,388,476 |
$1,584,067
$0 |
$2,804,409 |
| 28 |
$4,607,908 |
$1,665,256
$0 |
$2,942,652 |
| 29 |
$4,838,328 |
$1,750,512
$0 |
$3,087,816 |
| 30 |
$5,080,228 |
$1,840,015
$0 |
$3,240,213 |
|
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