Day
 |
/
|
|
|
|
|
Day
 |
/
|
|
|
|
|
Texas(TX) Powerball Prize Analysis for Wed Oct 05, 2022
Updated: Tuesday, October 4th, 2022 12:30 AM The estimated jackpot for Powerball on Wed Oct 05, 2022 is $353 million. The cash option is $185.6 million. The Powerball prize analysis tells you how much you would get after state, local and federal tax withholdings. As legally required by the state of Texas, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. Luckily, lottery prizes are exempt from Texas state and local personal income taxes. For more information on taxes for lottery winnings in the state of Texas, click here.
- For the Cash Option in the amount of $185.6 million, the federal tax that must be withheld is $46,400,000.00. There is no state tax for lottery prizes. After all the taxes are paid, the winner gets a net lump-sum payment of $139,200,000.00.
- For the Annuity option in the amount of $353 million, the winner gets paid in 30 annual payments in the average amount of $11,766,666.67 per year. The average federal tax liability is $2,941,666.67 per year. There is no state tax liability for lottery prizes. The average net lump-sum payment after tax withholding is going to be $8,825,000.00 per year. Please Note: Powerball annuity payments are NOT allocated evenly by years. The payments increase annually in a 30 year period. Please see below for the detailed payment schedule.
For detailed information on Powerball Lottery Winning Taxes and Prizes Analysis, see the data listed below.
| Texas(TX) Powerball Prize Analysis for Wed Oct 05, 2022 |
|
Wed Oct 05, 2022
|
Jackpot: $353 Million
|
Cash: $185.6 Million
|
| Cash Option - $185.6 Million |
| Gross Cash Payment | 25% Federal Withholding | 0% State Withholding | Lump-Sum Net Payment | | $185,600,000.00 | -$46,400,000.00 | -$0.00 | $139,200,000.00 |
| Annuity - $353 Million in 30 Annual Payments |
| Yr |
Annual Gross Payment |
25% Federal Withholding |
0% State Withholding |
Annual Net Payment |
| 1 | $6,294,024.99 | -$1,573,506.25 | -$0.00 | $4,720,518.75 | | 2 | $6,545,785.99 | -$1,636,446.50 | -$0.00 | $4,909,339.50 | | 3 | $6,807,617.43 | -$1,701,904.36 | -$0.00 | $5,105,713.08 | | 4 | $7,079,922.13 | -$1,769,980.53 | -$0.00 | $5,309,941.60 | | 5 | $7,363,119.02 | -$1,840,779.75 | -$0.00 | $5,522,339.26 | | 6 | $7,657,643.78 | -$1,914,410.94 | -$0.00 | $5,743,232.83 | | 7 | $7,963,949.53 | -$1,990,987.38 | -$0.00 | $5,972,962.15 | | 8 | $8,282,507.51 | -$2,070,626.88 | -$0.00 | $6,211,880.63 | | 9 | $8,613,807.81 | -$2,153,451.95 | -$0.00 | $6,460,355.86 | | 10 | $8,958,360.12 | -$2,239,590.03 | -$0.00 | $6,718,770.09 | | 11 | $9,316,694.53 | -$2,329,173.63 | -$0.00 | $6,987,520.90 | | 12 | $9,689,362.31 | -$2,422,340.58 | -$0.00 | $7,267,021.73 | | 13 | $10,076,936.80 | -$2,519,234.20 | -$0.00 | $7,557,702.60 | | 14 | $10,480,014.27 | -$2,620,003.57 | -$0.00 | $7,860,010.70 | | 15 | $10,899,214.84 | -$2,724,803.71 | -$0.00 | $8,174,411.13 | | 16 | $11,335,183.44 | -$2,833,795.86 | -$0.00 | $8,501,387.58 | | 17 | $11,788,590.77 | -$2,947,147.69 | -$0.00 | $8,841,443.08 | | 18 | $12,260,134.41 | -$3,065,033.60 | -$0.00 | $9,195,100.80 | | 19 | $12,750,539.78 | -$3,187,634.95 | -$0.00 | $9,562,904.84 | | 20 | $13,260,561.37 | -$3,315,140.34 | -$0.00 | $9,945,421.03 | | 21 | $13,790,983.83 | -$3,447,745.96 | -$0.00 | $10,343,237.87 | | 22 | $14,342,623.18 | -$3,585,655.80 | -$0.00 | $10,756,967.39 | | 23 | $14,916,328.11 | -$3,729,082.03 | -$0.00 | $11,187,246.08 | | 24 | $15,512,981.23 | -$3,878,245.31 | -$0.00 | $11,634,735.92 | | 25 | $16,133,500.48 | -$4,033,375.12 | -$0.00 | $12,100,125.36 | | 26 | $16,778,840.50 | -$4,194,710.13 | -$0.00 | $12,584,130.38 | | 27 | $17,449,994.12 | -$4,362,498.53 | -$0.00 | $13,087,495.59 | | 28 | $18,147,993.89 | -$4,536,998.47 | -$0.00 | $13,610,995.41 | | 29 | $18,873,913.64 | -$4,718,478.41 | -$0.00 | $14,155,435.23 | | 30 | $19,628,870.19 | -$4,907,217.55 | -$0.00 | $14,721,652.64 |
| Other Prizes With More Than $5,000.00 |
| 5 White Ball | 25% Federal Withholding | 0% State Withholding | Net Payment | | $1,000,000.00 | -$250,000.00 | -$0.00 | $750,000.00 | 5 White Ball
with PowerPlay | 25% Federal Withholding | 0% State Withholding | Net Payment | | $2,000,000.00 | -$500,000.00 | -$0.00 | $1,500,000.00 | 4 White Ball
Powerball | 25% Federal Withholding | 0% State Withholding | Net Payment | | $10,000.00 | -$2,500.00 | -$0.00 | $7,500.00 | 4 White Ball
Powerball
with PowerPlay | 25% Federal Withholding | 0% State Withholding | Net Payment | | $40,000.00 | -$10,000.00 | -$0.00 | $30,000.00 |
Past Prize Analysis for Powerball- Powerball Jackpot Analysis for Wednesday, October 5th
- Powerball Jackpot Analysis for Monday, October 3rd
- Powerball Jackpot Analysis for Saturday, October 1st
- Powerball Jackpot Analysis for Wednesday, September 28th
- Powerball Jackpot Analysis for Monday, September 26th
- Powerball Jackpot Analysis for Saturday, September 24th
- Powerball Jackpot Analysis for Wednesday, September 21st
- Powerball Jackpot Analysis for Monday, September 19th
- Powerball Jackpot Analysis for Saturday, September 17th
- Powerball Jackpot Analysis for Wednesday, September 14th
More Prize Analysis for Texas(TX) Powerball
| Texas Powerball |
SUN MON TUE WED THU FRI SAT |
|
|
Next Draw: Wed Oct 5, 2022
353,000,000
Change: +17,000,000
|
|
|
