The jackpot for the Powerball draw on Sat Dec 28, 2024, is projected to be $145 Million, with an option for a cash payout of $66.2 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 Arkansas residents, the state will deduct 4.9% from your lottery earnings.
| Arkansas Powerball Jackpot/Cash Option for Sat Dec 28, 2024 |
|---|
| Draw Date | Sat Dec 28, 2024 | | Projected Jackpot | $145,000,000 | | Cash Value | $66,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $66,200,000 | | Federal Tax(24%) | $15,888,000 | | Additional Federal Tax | $8,566,330 | | State Tax(4.9%) | $3,243,800 | | Net Lumpsum Payment | $38,501,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,182,395 |
$767,817
$106,937 |
$1,307,641 |
| 2 |
$2,291,580 |
$808,215
$112,287 |
$1,371,078 |
| 3 |
$2,406,130 |
$850,598
$117,900 |
$1,437,632 |
| 4 |
$2,526,480 |
$895,128
$123,798 |
$1,507,554 |
| 5 |
$2,652,775 |
$941,857
$129,986 |
$1,580,932 |
| 6 |
$2,785,450 |
$990,947
$136,487 |
$1,658,016 |
| 7 |
$2,924,650 |
$1,042,451
$143,308 |
$1,738,891 |
| 8 |
$3,070,955 |
$1,096,584
$150,477 |
$1,823,894 |
| 9 |
$3,224,510 |
$1,153,399
$158,001 |
$1,913,110 |
| 10 |
$3,385,750 |
$1,213,058
$165,902 |
$2,006,790 |
| 11 |
$3,554,965 |
$1,275,667
$174,193 |
$2,105,105 |
| 12 |
$3,732,735 |
$1,341,442
$182,904 |
$2,208,389 |
| 13 |
$3,919,350 |
$1,410,490
$192,048 |
$2,316,812 |
| 14 |
$4,115,390 |
$1,483,025
$201,654 |
$2,430,711 |
| 15 |
$4,321,145 |
$1,559,154
$211,736 |
$2,550,255 |
| 16 |
$4,537,195 |
$1,639,093
$222,323 |
$2,675,779 |
| 17 |
$4,763,975 |
$1,723,001
$233,435 |
$2,807,539 |
| 18 |
$5,002,210 |
$1,811,148
$245,108 |
$2,945,954 |
| 19 |
$5,252,335 |
$1,903,694
$257,364 |
$3,091,277 |
| 20 |
$5,514,930 |
$2,000,854
$270,232 |
$3,243,844 |
| 21 |
$5,790,720 |
$2,102,897
$283,745 |
$3,404,078 |
| 22 |
$6,080,285 |
$2,210,036
$297,934 |
$3,572,315 |
| 23 |
$6,384,205 |
$2,322,486
$312,826 |
$3,748,893 |
| 24 |
$6,703,495 |
$2,440,624
$328,471 |
$3,934,400 |
| 25 |
$7,038,590 |
$2,564,609
$344,891 |
$4,129,090 |
| 26 |
$7,390,650 |
$2,694,871
$362,142 |
$4,333,637 |
| 27 |
$7,760,110 |
$2,831,571
$380,245 |
$4,548,294 |
| 28 |
$8,148,130 |
$2,975,138
$399,258 |
$4,773,734 |
| 29 |
$8,555,580 |
$3,125,895
$419,223 |
$5,010,462 |
| 30 |
$8,983,330 |
$3,284,162
$440,183 |
$5,258,985 |
|
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