The jackpot for the Powerball draw on Wed Oct 29, 2025, is projected to be $376 Million, with an option for a cash payout of $179.3 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 Wed Oct 29, 2025 |
|---|
| Draw Date | Wed Oct 29, 2025 | | Projected Jackpot | $376,000,000 | | Cash Value | $179,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $179,300,000 | | Federal Tax(24%) | $43,032,000 | | Additional Federal Tax | $23,269,330 | | State Tax(4.25%) | $7,620,250 | | Net Lumpsum Payment | $105,378,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$240,515 |
$3,364,435 |
| 2 |
$5,942,304 |
$2,158,983
$252,548 |
$3,530,773 |
| 3 |
$6,239,344 |
$2,268,888
$265,172 |
$3,705,284 |
| 4 |
$6,551,424 |
$2,384,357
$278,436 |
$3,888,631 |
| 5 |
$6,878,920 |
$2,505,531
$292,354 |
$4,081,035 |
| 6 |
$7,222,960 |
$2,632,826
$306,976 |
$4,283,158 |
| 7 |
$7,583,920 |
$2,766,381
$322,317 |
$4,495,222 |
| 8 |
$7,963,304 |
$2,906,753
$338,440 |
$4,718,111 |
| 9 |
$8,361,488 |
$3,054,081
$355,363 |
$4,952,044 |
| 10 |
$8,779,600 |
$3,208,782
$373,133 |
$5,197,685 |
| 11 |
$9,218,392 |
$3,371,135
$391,782 |
$5,455,475 |
| 12 |
$9,679,368 |
$3,541,697
$411,373 |
$5,726,298 |
| 13 |
$10,163,280 |
$3,720,744
$431,939 |
$6,010,597 |
| 14 |
$10,671,632 |
$3,908,834
$453,544 |
$6,309,254 |
| 15 |
$11,205,176 |
$4,106,246
$476,220 |
$6,622,710 |
| 16 |
$11,765,416 |
$4,313,534
$500,030 |
$6,951,852 |
| 17 |
$12,353,480 |
$4,531,118
$525,023 |
$7,297,339 |
| 18 |
$12,971,248 |
$4,759,692
$551,278 |
$7,660,278 |
| 19 |
$13,619,848 |
$4,999,674
$578,844 |
$8,041,330 |
| 20 |
$14,300,784 |
$5,251,620
$607,783 |
$8,441,381 |
| 21 |
$15,015,936 |
$5,516,227
$638,177 |
$8,861,532 |
| 22 |
$15,766,808 |
$5,794,049
$670,089 |
$9,302,670 |
| 23 |
$16,554,904 |
$6,085,645
$703,583 |
$9,765,676 |
| 24 |
$17,382,856 |
$6,391,987
$738,771 |
$10,252,098 |
| 25 |
$18,251,792 |
$6,713,493
$775,701 |
$10,762,598 |
| 26 |
$19,164,720 |
$7,051,277
$814,501 |
$11,298,942 |
| 27 |
$20,122,768 |
$7,405,755
$855,218 |
$11,861,795 |
| 28 |
$21,128,944 |
$7,778,040
$897,980 |
$12,452,924 |
| 29 |
$22,185,504 |
$8,168,967
$942,884 |
$13,073,653 |
| 30 |
$23,294,704 |
$8,579,371
$990,025 |
$13,725,308 |
|
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