Indiana Lottery

INLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 11, 2025 is estimated to be $263 Million, with a cash option of 117.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Indiana, your state will take 3.15% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Indiana Powerball Jackpot/Cash Option for Sat Jan 11, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 11, 2025	$263,000,000	$117,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,700,000
Federal Tax(24%)	$28,248,000
Additional Federal Tax	$15,261,330
State Tax(3.15%)	$3,707,550
Net Lumpsum Payment	$70,483,120

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$124,690	$2,408,780
2	$4,156,452	-$1,498,218 -$130,928	$2,527,306
3	$4,364,222	-$1,575,093 -$137,473	$2,651,656
4	$4,582,512	-$1,655,860 -$144,349	$2,782,303
5	$4,811,585	-$1,740,617 -$151,565	$2,919,403
6	$5,052,230	-$1,829,655 -$159,145	$3,063,430
7	$5,304,710	-$1,923,073 -$167,098	$3,214,539
8	$5,570,077	-$2,021,259 -$175,457	$3,373,361
9	$5,848,594	-$2,124,310 -$184,231	$3,540,053
10	$6,141,050	-$2,232,519 -$193,443	$3,715,088
11	$6,447,971	-$2,346,080 -$203,111	$3,898,780
12	$6,770,409	-$2,465,382 -$213,268	$4,091,759
13	$7,108,890	-$2,590,620 -$223,930	$4,294,340
14	$7,464,466	-$2,722,183 -$235,131	$4,507,152
15	$7,837,663	-$2,860,266 -$246,886	$4,730,511
16	$8,229,533	-$3,005,258 -$259,230	$4,965,045
17	$8,640,865	-$3,157,450 -$272,187	$5,211,228
18	$9,072,974	-$3,317,331 -$285,799	$5,469,844
19	$9,526,649	-$3,485,191 -$300,089	$5,741,369
20	$10,002,942	-$3,661,419 -$315,093	$6,026,430
21	$10,503,168	-$3,846,503 -$330,850	$6,325,815
22	$11,028,379	-$4,040,831 -$347,394	$6,640,154
23	$11,579,627	-$4,244,792 -$364,758	$6,970,077
24	$12,158,753	-$4,459,069 -$383,001	$7,316,683
25	$12,766,546	-$4,683,952 -$402,146	$7,680,448
26	$13,405,110	-$4,920,221 -$422,261	$8,062,628
27	$14,075,234	-$5,168,167 -$443,370	$8,463,697
28	$14,779,022	-$5,428,569 -$465,539	$8,884,914
29	$15,518,052	-$5,702,010 -$488,819	$9,327,223
30	$16,293,902	-$5,989,074 -$513,258	$9,791,570