The jackpot for the Powerball draw on Sat May 11, 2024, is projected to be $36 Million, with an option for a cash payout of $16.8 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 North Dakota residents, the state will deduct 2.9% from your lottery earnings.
| North Dakota Powerball Jackpot/Cash Option for Sat May 11, 2024 |
|---|
| Draw Date | Sat May 11, 2024 | | Projected Jackpot | $36,000,000 | | Cash Value | $16,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,800,000 | | Federal Tax(24%) | $4,032,000 | | Additional Federal Tax | $2,144,330 | | State Tax(2.9%) | $487,200 | | Net Lumpsum Payment | $10,136,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$541,836 |
$160,810
$15,713 |
$365,313 |
| 2 |
$568,944 |
$170,840
$16,499 |
$381,605 |
| 3 |
$597,384 |
$181,362
$17,324 |
$398,698 |
| 4 |
$627,264 |
$192,418
$18,191 |
$416,655 |
| 5 |
$658,620 |
$204,020
$19,100 |
$435,500 |
| 6 |
$691,560 |
$216,208
$20,055 |
$455,297 |
| 7 |
$726,120 |
$228,995
$21,057 |
$476,068 |
| 8 |
$762,444 |
$242,435
$22,111 |
$497,898 |
| 9 |
$800,568 |
$256,541
$23,216 |
$520,811 |
| 10 |
$840,600 |
$271,352
$24,377 |
$544,871 |
| 11 |
$882,612 |
$286,897
$25,596 |
$570,119 |
| 12 |
$926,748 |
$303,227
$26,876 |
$596,645 |
| 13 |
$973,080 |
$320,370
$28,219 |
$624,491 |
| 14 |
$1,021,752 |
$338,379
$29,631 |
$653,742 |
| 15 |
$1,072,836 |
$357,280
$31,112 |
$684,444 |
| 16 |
$1,126,476 |
$377,127
$32,668 |
$716,681 |
| 17 |
$1,182,780 |
$397,959
$34,301 |
$750,520 |
| 18 |
$1,241,928 |
$419,844
$36,016 |
$786,068 |
| 19 |
$1,304,028 |
$442,821
$37,817 |
$823,390 |
| 20 |
$1,369,224 |
$466,943
$39,707 |
$862,574 |
| 21 |
$1,437,696 |
$492,278
$41,693 |
$903,725 |
| 22 |
$1,509,588 |
$518,878
$43,778 |
$946,932 |
| 23 |
$1,585,044 |
$546,797
$45,966 |
$992,281 |
| 24 |
$1,664,316 |
$576,127
$48,265 |
$1,039,924 |
| 25 |
$1,747,512 |
$606,910
$50,678 |
$1,089,924 |
| 26 |
$1,834,920 |
$639,251
$53,213 |
$1,142,456 |
| 27 |
$1,926,648 |
$673,190
$55,873 |
$1,197,585 |
| 28 |
$2,022,984 |
$708,834
$58,667 |
$1,255,483 |
| 29 |
$2,124,144 |
$746,264
$61,600 |
$1,316,280 |
| 30 |
$2,230,344 |
$785,558
$64,680 |
$1,380,106 |
|
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