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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho Powerball Jackpot/Cash Option for Sat Nov 23, 2024 |
|---|
| Draw Date | Sat 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(5.8%) | $4,564,600 | | Net Lumpsum Payment | $45,056,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$149,276 |
$1,511,838 |
| 2 |
$2,702,484 |
$960,249
$156,744 |
$1,585,491 |
| 3 |
$2,837,574 |
$1,010,233
$164,579 |
$1,662,762 |
| 4 |
$2,979,504 |
$1,062,747
$172,811 |
$1,743,946 |
| 5 |
$3,128,445 |
$1,117,855
$181,450 |
$1,829,140 |
| 6 |
$3,284,910 |
$1,175,747
$190,525 |
$1,918,638 |
| 7 |
$3,449,070 |
$1,236,486
$200,046 |
$2,012,538 |
| 8 |
$3,621,609 |
$1,300,326
$210,053 |
$2,111,230 |
| 9 |
$3,802,698 |
$1,367,329
$220,556 |
$2,214,813 |
| 10 |
$3,992,850 |
$1,437,685
$231,585 |
$2,323,580 |
| 11 |
$4,192,407 |
$1,511,521
$243,160 |
$2,437,726 |
| 12 |
$4,402,053 |
$1,589,090
$255,319 |
$2,557,644 |
| 13 |
$4,622,130 |
$1,670,518
$268,084 |
$2,683,528 |
| 14 |
$4,853,322 |
$1,756,060
$281,493 |
$2,815,769 |
| 15 |
$5,095,971 |
$1,845,840
$295,566 |
$2,954,565 |
| 16 |
$5,350,761 |
$1,940,112
$310,344 |
$3,100,305 |
| 17 |
$5,618,205 |
$2,039,066
$325,856 |
$3,253,283 |
| 18 |
$5,899,158 |
$2,143,019
$342,151 |
$3,413,988 |
| 19 |
$6,194,133 |
$2,252,160
$359,260 |
$3,582,713 |
| 20 |
$6,503,814 |
$2,366,742
$377,221 |
$3,759,851 |
| 21 |
$6,829,056 |
$2,487,081
$396,085 |
$3,945,890 |
| 22 |
$7,170,543 |
$2,613,431
$415,891 |
$4,141,221 |
| 23 |
$7,528,959 |
$2,746,045
$436,680 |
$4,346,234 |
| 24 |
$7,905,501 |
$2,885,366
$458,519 |
$4,561,616 |
| 25 |
$8,300,682 |
$3,031,583
$481,440 |
$4,787,659 |
| 26 |
$8,715,870 |
$3,185,202
$505,520 |
$5,025,148 |
| 27 |
$9,151,578 |
$3,346,414
$530,792 |
$5,274,372 |
| 28 |
$9,609,174 |
$3,515,725
$557,332 |
$5,536,117 |
| 29 |
$10,089,684 |
$3,693,513
$585,202 |
$5,810,969 |
| 30 |
$10,594,134 |
$3,880,160
$614,460 |
$6,099,514 |
|
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