The jackpot for the Powerball draw on Mon Dec 23, 2024, is projected to be $103 Million, with an option for a cash payout of $47 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana Powerball Jackpot/Cash Option for Mon Dec 23, 2024 |
|---|
| Draw Date | Mon Dec 23, 2024 | | Projected Jackpot | $103,000,000 | | Cash Value | $47,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $47,000,000 | | Federal Tax(24%) | $11,280,000 | | Additional Federal Tax | $6,070,330 | | State Tax(6.75%) | $3,172,500 | | Net Lumpsum Payment | $26,477,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,550,253 |
$533,924
$104,642 |
$911,687 |
| 2 |
$1,627,812 |
$562,621
$109,877 |
$955,314 |
| 3 |
$1,709,182 |
$592,728
$115,370 |
$1,001,084 |
| 4 |
$1,794,672 |
$624,359
$121,140 |
$1,049,173 |
| 5 |
$1,884,385 |
$657,553
$127,196 |
$1,099,636 |
| 6 |
$1,978,630 |
$692,423
$133,558 |
$1,152,649 |
| 7 |
$2,077,510 |
$729,009
$140,232 |
$1,208,269 |
| 8 |
$2,181,437 |
$767,462
$147,247 |
$1,266,728 |
| 9 |
$2,290,514 |
$807,821
$154,610 |
$1,328,083 |
| 10 |
$2,405,050 |
$850,199
$162,341 |
$1,392,510 |
| 11 |
$2,525,251 |
$894,673
$170,454 |
$1,460,124 |
| 12 |
$2,651,529 |
$941,396
$178,978 |
$1,531,155 |
| 13 |
$2,784,090 |
$990,444
$187,926 |
$1,605,720 |
| 14 |
$2,923,346 |
$1,041,968
$197,326 |
$1,684,052 |
| 15 |
$3,069,503 |
$1,096,046
$207,191 |
$1,766,266 |
| 16 |
$3,222,973 |
$1,152,830
$217,551 |
$1,852,592 |
| 17 |
$3,384,065 |
$1,212,434
$228,424 |
$1,943,207 |
| 18 |
$3,553,294 |
$1,275,049
$239,847 |
$2,038,398 |
| 19 |
$3,730,969 |
$1,340,789
$251,840 |
$2,138,340 |
| 20 |
$3,917,502 |
$1,409,806
$264,431 |
$2,243,265 |
| 21 |
$4,113,408 |
$1,482,291
$277,655 |
$2,353,462 |
| 22 |
$4,319,099 |
$1,558,397
$291,539 |
$2,469,163 |
| 23 |
$4,534,987 |
$1,638,276
$306,112 |
$2,590,599 |
| 24 |
$4,761,793 |
$1,722,194
$321,421 |
$2,718,178 |
| 25 |
$4,999,826 |
$1,810,266
$337,488 |
$2,852,072 |
| 26 |
$5,249,910 |
$1,902,797
$354,369 |
$2,992,744 |
| 27 |
$5,512,354 |
$1,999,901
$372,084 |
$3,140,369 |
| 28 |
$5,787,982 |
$2,101,884
$390,689 |
$3,295,409 |
| 29 |
$6,077,412 |
$2,208,973
$410,225 |
$3,458,214 |
| 30 |
$6,381,262 |
$2,321,397
$430,735 |
$3,629,130 |
|
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