The jackpot for the Powerball draw on Wed Dec 4, 2024, is projected to be $240 Million, with an option for a cash payout of $113.6 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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana Powerball Jackpot/Cash Option for Wed Dec 4, 2024 |
|---|
| Draw Date | Wed Dec 4, 2024 | | Projected Jackpot | $240,000,000 | | Cash Value | $113,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,600,000 | | Federal Tax(24%) | $27,264,000 | | Additional Federal Tax | $14,728,330 | | State Tax(4.75%) | $5,396,000 | | Net Lumpsum Payment | $66,211,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,612,240 |
$1,296,859
$171,581 |
$2,143,800 |
| 2 |
$3,792,960 |
$1,363,726
$180,166 |
$2,249,068 |
| 3 |
$3,982,560 |
$1,433,878
$189,172 |
$2,359,510 |
| 4 |
$4,181,760 |
$1,507,582
$198,634 |
$2,475,544 |
| 5 |
$4,390,800 |
$1,584,926
$208,563 |
$2,597,311 |
| 6 |
$4,610,400 |
$1,666,178
$218,994 |
$2,725,228 |
| 7 |
$4,840,800 |
$1,751,426
$229,938 |
$2,859,436 |
| 8 |
$5,082,960 |
$1,841,026
$241,441 |
$3,000,493 |
| 9 |
$5,337,120 |
$1,935,065
$253,513 |
$3,148,542 |
| 10 |
$5,604,000 |
$2,033,810
$266,190 |
$3,304,000 |
| 11 |
$5,884,080 |
$2,137,440
$279,494 |
$3,467,146 |
| 12 |
$6,178,320 |
$2,246,309
$293,470 |
$3,638,541 |
| 13 |
$6,487,200 |
$2,360,594
$308,142 |
$3,818,464 |
| 14 |
$6,811,680 |
$2,480,652
$323,555 |
$4,007,473 |
| 15 |
$7,152,240 |
$2,606,659
$339,731 |
$4,205,850 |
| 16 |
$7,509,840 |
$2,738,971
$356,717 |
$4,414,152 |
| 17 |
$7,885,200 |
$2,877,854
$374,547 |
$4,632,799 |
| 18 |
$8,279,520 |
$3,023,753
$393,277 |
$4,862,490 |
| 19 |
$8,693,520 |
$3,176,933
$412,942 |
$5,103,645 |
| 20 |
$9,128,160 |
$3,337,750
$433,588 |
$5,356,822 |
| 21 |
$9,584,640 |
$3,506,647
$455,270 |
$5,622,723 |
| 22 |
$10,063,920 |
$3,683,981
$478,036 |
$5,901,903 |
| 23 |
$10,566,960 |
$3,870,106
$501,931 |
$6,194,923 |
| 24 |
$11,095,440 |
$4,065,643
$527,033 |
$6,502,764 |
| 25 |
$11,650,080 |
$4,270,860
$553,379 |
$6,825,841 |
| 26 |
$12,232,800 |
$4,486,466
$581,058 |
$7,165,276 |
| 27 |
$12,844,320 |
$4,712,729
$610,105 |
$7,521,486 |
| 28 |
$13,486,560 |
$4,950,358
$640,612 |
$7,895,590 |
| 29 |
$14,160,960 |
$5,199,886
$672,646 |
$8,288,428 |
| 30 |
$14,868,960 |
$5,461,846
$706,276 |
$8,700,838 |
|
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