The jackpot for the Powerball draw on Sat Feb 8, 2025, is projected to be $133 Million, with an option for a cash payout of $60.3 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 Feb 8, 2025 |
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Draw Date | Sat Feb 8, 2025 | Projected Jackpot | $133,000,000 | Cash Value | $60,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $60,300,000 | Federal Tax(24%) | $14,472,000 | Additional Federal Tax | $7,799,330 | State Tax(2.9%) | $1,748,700 | Net Lumpsum Payment | $36,279,970 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,001,783 |
$700,990 $58,052 |
$1,242,741 |
2 |
$2,101,932 |
$738,045 $60,956 |
$1,302,931 |
3 |
$2,207,002 |
$776,921 $64,003 |
$1,366,078 |
4 |
$2,317,392 |
$817,765 $67,204 |
$1,432,423 |
5 |
$2,433,235 |
$860,627 $70,564 |
$1,502,044 |
6 |
$2,554,930 |
$905,654 $74,093 |
$1,575,183 |
7 |
$2,682,610 |
$952,896 $77,796 |
$1,651,918 |
8 |
$2,816,807 |
$1,002,549 $81,687 |
$1,732,571 |
9 |
$2,957,654 |
$1,054,662 $85,772 |
$1,817,220 |
10 |
$3,105,550 |
$1,109,384 $90,061 |
$1,906,105 |
11 |
$3,260,761 |
$1,166,812 $94,562 |
$1,999,387 |
12 |
$3,423,819 |
$1,227,143 $99,291 |
$2,097,385 |
13 |
$3,594,990 |
$1,290,477 $104,255 |
$2,200,258 |
14 |
$3,774,806 |
$1,357,009 $109,469 |
$2,308,328 |
15 |
$3,963,533 |
$1,426,838 $114,942 |
$2,421,753 |
16 |
$4,161,703 |
$1,500,160 $120,689 |
$2,540,854 |
17 |
$4,369,715 |
$1,577,125 $126,722 |
$2,665,868 |
18 |
$4,588,234 |
$1,657,977 $133,059 |
$2,797,198 |
19 |
$4,817,659 |
$1,742,864 $139,712 |
$2,935,083 |
20 |
$5,058,522 |
$1,831,984 $146,697 |
$3,079,841 |
21 |
$5,311,488 |
$1,925,581 $154,033 |
$3,231,874 |
22 |
$5,577,089 |
$2,023,853 $161,736 |
$3,391,500 |
23 |
$5,855,857 |
$2,126,997 $169,820 |
$3,559,040 |
24 |
$6,148,723 |
$2,235,358 $178,313 |
$3,735,052 |
25 |
$6,456,086 |
$2,349,082 $187,226 |
$3,919,778 |
26 |
$6,779,010 |
$2,468,564 $196,591 |
$4,113,855 |
27 |
$7,117,894 |
$2,593,951 $206,419 |
$4,317,524 |
28 |
$7,473,802 |
$2,725,637 $216,740 |
$4,531,425 |
29 |
$7,847,532 |
$2,863,917 $227,578 |
$4,756,037 |
30 |
$8,239,882 |
$3,009,087 $238,957 |
$4,991,838 |
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