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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $414,000 | | Net Lumpsum Payment | $5,421,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$301,020 |
$71,708
$13,546 |
$215,766 |
| 2 |
$316,080 |
$77,280
$14,224 |
$224,576 |
| 3 |
$331,880 |
$83,126
$14,935 |
$233,819 |
| 4 |
$348,480 |
$89,268
$15,682 |
$243,530 |
| 5 |
$365,900 |
$95,713
$16,466 |
$253,721 |
| 6 |
$384,200 |
$102,484
$17,289 |
$264,427 |
| 7 |
$403,400 |
$109,588
$18,153 |
$275,659 |
| 8 |
$423,580 |
$117,055
$19,061 |
$287,464 |
| 9 |
$444,760 |
$124,892
$20,014 |
$299,854 |
| 10 |
$467,000 |
$133,120
$21,015 |
$312,865 |
| 11 |
$490,340 |
$141,756
$22,065 |
$326,519 |
| 12 |
$514,860 |
$150,829
$23,169 |
$340,862 |
| 13 |
$540,600 |
$160,352
$24,327 |
$355,921 |
| 14 |
$567,640 |
$170,357
$25,544 |
$371,739 |
| 15 |
$596,020 |
$180,858
$26,821 |
$388,341 |
| 16 |
$625,820 |
$191,884
$28,162 |
$405,774 |
| 17 |
$657,100 |
$203,457
$29,570 |
$424,073 |
| 18 |
$689,960 |
$215,616
$31,048 |
$443,296 |
| 19 |
$724,460 |
$228,381
$32,601 |
$463,478 |
| 20 |
$760,680 |
$241,782
$34,231 |
$484,667 |
| 21 |
$798,720 |
$255,857
$35,942 |
$506,921 |
| 22 |
$838,660 |
$270,635
$37,740 |
$530,285 |
| 23 |
$880,580 |
$286,145
$39,626 |
$554,809 |
| 24 |
$924,620 |
$302,440
$41,608 |
$580,572 |
| 25 |
$970,840 |
$319,541
$43,688 |
$607,611 |
| 26 |
$1,019,400 |
$337,508
$45,873 |
$636,019 |
| 27 |
$1,070,360 |
$356,364
$48,166 |
$665,830 |
| 28 |
$1,123,880 |
$376,166
$50,575 |
$697,139 |
| 29 |
$1,180,080 |
$396,960
$53,104 |
$730,016 |
| 30 |
$1,239,080 |
$418,790
$55,759 |
$764,531 |
|
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