The jackpot for the Powerball draw on Mon Apr 28, 2025, is projected to be $20 Million, with an option for a cash payout of $9.2 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana Powerball Jackpot/Cash Option for Mon Apr 28, 2025 |
|---|
| Draw Date | Mon Apr 28, 2025 | | Projected Jackpot | $20,000,000 | | Cash Value | $9,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $9,200,000 | | Federal Tax(24%) | $2,208,000 | | Additional Federal Tax | $1,156,330 | | State Tax(3.15%) | $289,800 | | Net Lumpsum Payment | $5,545,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$301,020 |
$71,708
$9,482 |
$219,830 |
| 2 |
$316,080 |
$77,280
$9,957 |
$228,843 |
| 3 |
$331,880 |
$83,126
$10,454 |
$238,300 |
| 4 |
$348,480 |
$89,268
$10,977 |
$248,235 |
| 5 |
$365,900 |
$95,713
$11,526 |
$258,661 |
| 6 |
$384,200 |
$102,484
$12,102 |
$269,614 |
| 7 |
$403,400 |
$109,588
$12,707 |
$281,105 |
| 8 |
$423,580 |
$117,055
$13,343 |
$293,182 |
| 9 |
$444,760 |
$124,892
$14,010 |
$305,858 |
| 10 |
$467,000 |
$133,120
$14,711 |
$319,169 |
| 11 |
$490,340 |
$141,756
$15,446 |
$333,138 |
| 12 |
$514,860 |
$150,829
$16,218 |
$347,813 |
| 13 |
$540,600 |
$160,352
$17,029 |
$363,219 |
| 14 |
$567,640 |
$170,357
$17,881 |
$379,402 |
| 15 |
$596,020 |
$180,858
$18,775 |
$396,387 |
| 16 |
$625,820 |
$191,884
$19,713 |
$414,223 |
| 17 |
$657,100 |
$203,457
$20,699 |
$432,944 |
| 18 |
$689,960 |
$215,616
$21,734 |
$452,610 |
| 19 |
$724,460 |
$228,381
$22,820 |
$473,259 |
| 20 |
$760,680 |
$241,782
$23,961 |
$494,937 |
| 21 |
$798,720 |
$255,857
$25,160 |
$517,703 |
| 22 |
$838,660 |
$270,635
$26,418 |
$541,607 |
| 23 |
$880,580 |
$286,145
$27,738 |
$566,697 |
| 24 |
$924,620 |
$302,440
$29,126 |
$593,054 |
| 25 |
$970,840 |
$319,541
$30,581 |
$620,718 |
| 26 |
$1,019,400 |
$337,508
$32,111 |
$649,781 |
| 27 |
$1,070,360 |
$356,364
$33,716 |
$680,280 |
| 28 |
$1,123,880 |
$376,166
$35,402 |
$712,312 |
| 29 |
$1,180,080 |
$396,960
$37,173 |
$745,947 |
| 30 |
$1,239,080 |
$418,790
$39,031 |
$781,259 |
|
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