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 those living in Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas 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(0%) | $0 | | Net Lumpsum Payment | $112,998,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$0 |
$3,604,950 |
| 2 |
$5,942,304 |
$2,158,983
$0 |
$3,783,321 |
| 3 |
$6,239,344 |
$2,268,888
$0 |
$3,970,456 |
| 4 |
$6,551,424 |
$2,384,357
$0 |
$4,167,067 |
| 5 |
$6,878,920 |
$2,505,531
$0 |
$4,373,389 |
| 6 |
$7,222,960 |
$2,632,826
$0 |
$4,590,134 |
| 7 |
$7,583,920 |
$2,766,381
$0 |
$4,817,539 |
| 8 |
$7,963,304 |
$2,906,753
$0 |
$5,056,551 |
| 9 |
$8,361,488 |
$3,054,081
$0 |
$5,307,407 |
| 10 |
$8,779,600 |
$3,208,782
$0 |
$5,570,818 |
| 11 |
$9,218,392 |
$3,371,135
$0 |
$5,847,257 |
| 12 |
$9,679,368 |
$3,541,697
$0 |
$6,137,671 |
| 13 |
$10,163,280 |
$3,720,744
$0 |
$6,442,536 |
| 14 |
$10,671,632 |
$3,908,834
$0 |
$6,762,798 |
| 15 |
$11,205,176 |
$4,106,246
$0 |
$7,098,930 |
| 16 |
$11,765,416 |
$4,313,534
$0 |
$7,451,882 |
| 17 |
$12,353,480 |
$4,531,118
$0 |
$7,822,362 |
| 18 |
$12,971,248 |
$4,759,692
$0 |
$8,211,556 |
| 19 |
$13,619,848 |
$4,999,674
$0 |
$8,620,174 |
| 20 |
$14,300,784 |
$5,251,620
$0 |
$9,049,164 |
| 21 |
$15,015,936 |
$5,516,227
$0 |
$9,499,709 |
| 22 |
$15,766,808 |
$5,794,049
$0 |
$9,972,759 |
| 23 |
$16,554,904 |
$6,085,645
$0 |
$10,469,259 |
| 24 |
$17,382,856 |
$6,391,987
$0 |
$10,990,869 |
| 25 |
$18,251,792 |
$6,713,493
$0 |
$11,538,299 |
| 26 |
$19,164,720 |
$7,051,277
$0 |
$12,113,443 |
| 27 |
$20,122,768 |
$7,405,755
$0 |
$12,717,013 |
| 28 |
$21,128,944 |
$7,778,040
$0 |
$13,350,904 |
| 29 |
$22,185,504 |
$8,168,967
$0 |
$14,016,537 |
| 30 |
$23,294,704 |
$8,579,371
$0 |
$14,715,333 |
|
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