Jackpot Analysis Colorado Powerball

Jackpot Analysis for Colorado Powerball
The jackpot for the Powerball draw on Sat Nov 23, 2024, is projected to be $171 Million, with an option for a cash payout of $78.7 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 Colorado residents, the state will deduct 4% from your lottery earnings.

Colorado Powerball Jackpot/Cash Option for Sat Nov 23, 2024
Draw DateSat Nov 23, 2024
Projected Jackpot$171,000,000
Cash Value$78,700,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$78,700,000
Federal Tax(24%)$18,888,000
Additional Federal Tax$10,191,330
State Tax(4%)$3,148,000
Net Lumpsum Payment$46,472,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,573,721 $912,607
$102,949
$1,558,165
2 $2,702,484 $960,249
$108,099
$1,634,136
3 $2,837,574 $1,010,233
$113,503
$1,713,838
4 $2,979,504 $1,062,747
$119,180
$1,797,577
5 $3,128,445 $1,117,855
$125,138
$1,885,452
6 $3,284,910 $1,175,747
$131,396
$1,977,767
7 $3,449,070 $1,236,486
$137,963
$2,074,621
8 $3,621,609 $1,300,326
$144,864
$2,176,419
9 $3,802,698 $1,367,329
$152,108
$2,283,261
10 $3,992,850 $1,437,685
$159,714
$2,395,451
11 $4,192,407 $1,511,521
$167,696
$2,513,190
12 $4,402,053 $1,589,090
$176,082
$2,636,881
13 $4,622,130 $1,670,518
$184,885
$2,766,727
14 $4,853,322 $1,756,060
$194,133
$2,903,129
15 $5,095,971 $1,845,840
$203,839
$3,046,292
16 $5,350,761 $1,940,112
$214,030
$3,196,619
17 $5,618,205 $2,039,066
$224,728
$3,354,411
18 $5,899,158 $2,143,019
$235,966
$3,520,173
19 $6,194,133 $2,252,160
$247,765
$3,694,208
20 $6,503,814 $2,366,742
$260,153
$3,876,919
21 $6,829,056 $2,487,081
$273,162
$4,068,813
22 $7,170,543 $2,613,431
$286,822
$4,270,290
23 $7,528,959 $2,746,045
$301,158
$4,481,756
24 $7,905,501 $2,885,366
$316,220
$4,703,915
25 $8,300,682 $3,031,583
$332,027
$4,937,072
26 $8,715,870 $3,185,202
$348,635
$5,182,033
27 $9,151,578 $3,346,414
$366,063
$5,439,101
28 $9,609,174 $3,515,725
$384,367
$5,709,082
29 $10,089,684 $3,693,513
$403,587
$5,992,584
30 $10,594,134 $3,880,160
$423,765
$6,290,209