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 Kentucky residents, the state will deduct 4.5% from your lottery earnings.
| Kentucky 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(4.5%) | $3,541,500 | | Net Lumpsum Payment | $46,079,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$115,817 |
$1,545,297 |
| 2 |
$2,702,484 |
$960,249
$121,612 |
$1,620,623 |
| 3 |
$2,837,574 |
$1,010,233
$127,691 |
$1,699,650 |
| 4 |
$2,979,504 |
$1,062,747
$134,078 |
$1,782,679 |
| 5 |
$3,128,445 |
$1,117,855
$140,780 |
$1,869,810 |
| 6 |
$3,284,910 |
$1,175,747
$147,821 |
$1,961,342 |
| 7 |
$3,449,070 |
$1,236,486
$155,208 |
$2,057,376 |
| 8 |
$3,621,609 |
$1,300,326
$162,972 |
$2,158,311 |
| 9 |
$3,802,698 |
$1,367,329
$171,121 |
$2,264,248 |
| 10 |
$3,992,850 |
$1,437,685
$179,678 |
$2,375,487 |
| 11 |
$4,192,407 |
$1,511,521
$188,658 |
$2,492,228 |
| 12 |
$4,402,053 |
$1,589,090
$198,092 |
$2,614,871 |
| 13 |
$4,622,130 |
$1,670,518
$207,996 |
$2,743,616 |
| 14 |
$4,853,322 |
$1,756,060
$218,399 |
$2,878,863 |
| 15 |
$5,095,971 |
$1,845,840
$229,319 |
$3,020,812 |
| 16 |
$5,350,761 |
$1,940,112
$240,784 |
$3,169,865 |
| 17 |
$5,618,205 |
$2,039,066
$252,819 |
$3,326,320 |
| 18 |
$5,899,158 |
$2,143,019
$265,462 |
$3,490,677 |
| 19 |
$6,194,133 |
$2,252,160
$278,736 |
$3,663,237 |
| 20 |
$6,503,814 |
$2,366,742
$292,672 |
$3,844,400 |
| 21 |
$6,829,056 |
$2,487,081
$307,308 |
$4,034,667 |
| 22 |
$7,170,543 |
$2,613,431
$322,674 |
$4,234,438 |
| 23 |
$7,528,959 |
$2,746,045
$338,803 |
$4,444,111 |
| 24 |
$7,905,501 |
$2,885,366
$355,748 |
$4,664,387 |
| 25 |
$8,300,682 |
$3,031,583
$373,531 |
$4,895,568 |
| 26 |
$8,715,870 |
$3,185,202
$392,214 |
$5,138,454 |
| 27 |
$9,151,578 |
$3,346,414
$411,821 |
$5,393,343 |
| 28 |
$9,609,174 |
$3,515,725
$432,413 |
$5,661,036 |
| 29 |
$10,089,684 |
$3,693,513
$454,036 |
$5,942,135 |
| 30 |
$10,594,134 |
$3,880,160
$476,736 |
$6,237,238 |
|
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