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 Kansas residents, the state will deduct 5% from your lottery earnings.
| Kansas 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(5%) | $3,310,000 | | Net Lumpsum Payment | $38,435,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,182,395 |
$767,817
$109,120 |
$1,305,458 |
| 2 |
$2,291,580 |
$808,215
$114,579 |
$1,368,786 |
| 3 |
$2,406,130 |
$850,598
$120,307 |
$1,435,225 |
| 4 |
$2,526,480 |
$895,128
$126,324 |
$1,505,028 |
| 5 |
$2,652,775 |
$941,857
$132,639 |
$1,578,279 |
| 6 |
$2,785,450 |
$990,947
$139,273 |
$1,655,230 |
| 7 |
$2,924,650 |
$1,042,451
$146,233 |
$1,735,966 |
| 8 |
$3,070,955 |
$1,096,584
$153,548 |
$1,820,823 |
| 9 |
$3,224,510 |
$1,153,399
$161,226 |
$1,909,885 |
| 10 |
$3,385,750 |
$1,213,058
$169,288 |
$2,003,404 |
| 11 |
$3,554,965 |
$1,275,667
$177,748 |
$2,101,550 |
| 12 |
$3,732,735 |
$1,341,442
$186,637 |
$2,204,656 |
| 13 |
$3,919,350 |
$1,410,490
$195,968 |
$2,312,892 |
| 14 |
$4,115,390 |
$1,483,025
$205,770 |
$2,426,595 |
| 15 |
$4,321,145 |
$1,559,154
$216,057 |
$2,545,934 |
| 16 |
$4,537,195 |
$1,639,093
$226,860 |
$2,671,242 |
| 17 |
$4,763,975 |
$1,723,001
$238,199 |
$2,802,775 |
| 18 |
$5,002,210 |
$1,811,148
$250,111 |
$2,940,951 |
| 19 |
$5,252,335 |
$1,903,694
$262,617 |
$3,086,024 |
| 20 |
$5,514,930 |
$2,000,854
$275,747 |
$3,238,329 |
| 21 |
$5,790,720 |
$2,102,897
$289,536 |
$3,398,287 |
| 22 |
$6,080,285 |
$2,210,036
$304,014 |
$3,566,235 |
| 23 |
$6,384,205 |
$2,322,486
$319,210 |
$3,742,509 |
| 24 |
$6,703,495 |
$2,440,624
$335,175 |
$3,927,696 |
| 25 |
$7,038,590 |
$2,564,609
$351,930 |
$4,122,051 |
| 26 |
$7,390,650 |
$2,694,871
$369,533 |
$4,326,246 |
| 27 |
$7,760,110 |
$2,831,571
$388,006 |
$4,540,533 |
| 28 |
$8,148,130 |
$2,975,138
$407,407 |
$4,765,585 |
| 29 |
$8,555,580 |
$3,125,895
$427,779 |
$5,001,906 |
| 30 |
$8,983,330 |
$3,284,162
$449,167 |
$5,250,001 |
|
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