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 Missouri residents, the state will deduct 4% from your lottery earnings.
| Missouri 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%) | $2,648,000 | | Net Lumpsum Payment | $39,097,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,182,395 |
$767,817
$87,296 |
$1,327,282 |
| 2 |
$2,291,580 |
$808,215
$91,663 |
$1,391,702 |
| 3 |
$2,406,130 |
$850,598
$96,245 |
$1,459,287 |
| 4 |
$2,526,480 |
$895,128
$101,059 |
$1,530,293 |
| 5 |
$2,652,775 |
$941,857
$106,111 |
$1,604,807 |
| 6 |
$2,785,450 |
$990,947
$111,418 |
$1,683,085 |
| 7 |
$2,924,650 |
$1,042,451
$116,986 |
$1,765,213 |
| 8 |
$3,070,955 |
$1,096,584
$122,838 |
$1,851,533 |
| 9 |
$3,224,510 |
$1,153,399
$128,980 |
$1,942,131 |
| 10 |
$3,385,750 |
$1,213,058
$135,430 |
$2,037,262 |
| 11 |
$3,554,965 |
$1,275,667
$142,199 |
$2,137,099 |
| 12 |
$3,732,735 |
$1,341,442
$149,309 |
$2,241,984 |
| 13 |
$3,919,350 |
$1,410,490
$156,774 |
$2,352,086 |
| 14 |
$4,115,390 |
$1,483,025
$164,616 |
$2,467,749 |
| 15 |
$4,321,145 |
$1,559,154
$172,846 |
$2,589,145 |
| 16 |
$4,537,195 |
$1,639,093
$181,488 |
$2,716,614 |
| 17 |
$4,763,975 |
$1,723,001
$190,559 |
$2,850,415 |
| 18 |
$5,002,210 |
$1,811,148
$200,088 |
$2,990,974 |
| 19 |
$5,252,335 |
$1,903,694
$210,093 |
$3,138,548 |
| 20 |
$5,514,930 |
$2,000,854
$220,597 |
$3,293,479 |
| 21 |
$5,790,720 |
$2,102,897
$231,629 |
$3,456,194 |
| 22 |
$6,080,285 |
$2,210,036
$243,211 |
$3,627,038 |
| 23 |
$6,384,205 |
$2,322,486
$255,368 |
$3,806,351 |
| 24 |
$6,703,495 |
$2,440,624
$268,140 |
$3,994,731 |
| 25 |
$7,038,590 |
$2,564,609
$281,544 |
$4,192,437 |
| 26 |
$7,390,650 |
$2,694,871
$295,626 |
$4,400,153 |
| 27 |
$7,760,110 |
$2,831,571
$310,404 |
$4,618,135 |
| 28 |
$8,148,130 |
$2,975,138
$325,925 |
$4,847,067 |
| 29 |
$8,555,580 |
$3,125,895
$342,223 |
$5,087,462 |
| 30 |
$8,983,330 |
$3,284,162
$359,333 |
$5,339,835 |
|
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