The jackpot for the Powerball draw on Mon Jun 30, 2025, is projected to be $162 Million, with an option for a cash payout of $74.2 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan Powerball Jackpot/Cash Option for Mon Jun 30, 2025 |
|---|
| Draw Date | Mon Jun 30, 2025 | | Projected Jackpot | $162,000,000 | | Cash Value | $74,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $74,200,000 | | Federal Tax(24%) | $17,808,000 | | Additional Federal Tax | $9,606,330 | | State Tax(4.25%) | $3,153,500 | | Net Lumpsum Payment | $43,632,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,438,262 |
$862,487
$103,626 |
$1,472,149 |
| 2 |
$2,560,248 |
$907,622
$108,811 |
$1,543,815 |
| 3 |
$2,688,228 |
$954,975
$114,250 |
$1,619,003 |
| 4 |
$2,822,688 |
$1,004,725
$119,964 |
$1,697,999 |
| 5 |
$2,963,790 |
$1,056,933
$125,961 |
$1,780,896 |
| 6 |
$3,112,020 |
$1,111,778
$132,261 |
$1,867,981 |
| 7 |
$3,267,540 |
$1,169,320
$138,870 |
$1,959,350 |
| 8 |
$3,430,998 |
$1,229,800
$145,817 |
$2,055,381 |
| 9 |
$3,602,556 |
$1,293,276
$153,109 |
$2,156,171 |
| 10 |
$3,782,700 |
$1,359,929
$160,765 |
$2,262,006 |
| 11 |
$3,971,754 |
$1,429,879
$168,800 |
$2,373,075 |
| 12 |
$4,170,366 |
$1,503,366
$177,241 |
$2,489,759 |
| 13 |
$4,378,860 |
$1,580,509
$186,102 |
$2,612,249 |
| 14 |
$4,597,884 |
$1,661,547
$195,410 |
$2,740,927 |
| 15 |
$4,827,762 |
$1,746,602
$205,180 |
$2,875,980 |
| 16 |
$5,069,142 |
$1,835,913
$215,439 |
$3,017,790 |
| 17 |
$5,322,510 |
$1,929,659
$226,207 |
$3,166,644 |
| 18 |
$5,588,676 |
$2,028,141
$237,519 |
$3,323,016 |
| 19 |
$5,868,126 |
$2,131,537
$249,395 |
$3,487,194 |
| 20 |
$6,161,508 |
$2,240,088
$261,864 |
$3,659,556 |
| 21 |
$6,469,632 |
$2,354,094
$274,959 |
$3,840,579 |
| 22 |
$6,793,146 |
$2,473,794
$288,709 |
$4,030,643 |
| 23 |
$7,132,698 |
$2,599,429
$303,140 |
$4,230,129 |
| 24 |
$7,489,422 |
$2,731,417
$318,300 |
$4,439,705 |
| 25 |
$7,863,804 |
$2,869,938
$334,212 |
$4,659,654 |
| 26 |
$8,257,140 |
$3,015,472
$350,928 |
$4,890,740 |
| 27 |
$8,669,916 |
$3,168,199
$368,471 |
$5,133,246 |
| 28 |
$9,103,428 |
$3,328,599
$386,896 |
$5,387,933 |
| 29 |
$9,558,648 |
$3,497,030
$406,243 |
$5,655,375 |
| 30 |
$10,036,548 |
$3,673,853
$426,553 |
$5,936,142 |
|
|
