The jackpot for the Powerball draw on Wed Jan 29, 2025, is projected to be $69 Million, with an option for a cash payout of $30.7 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 Missouri residents, the state will deduct 4% from your lottery earnings.
| Missouri Powerball Jackpot/Cash Option for Wed Jan 29, 2025 |
|---|
| Draw Date | Wed Jan 29, 2025 | | Projected Jackpot | $69,000,000 | | Cash Value | $30,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $30,700,000 | | Federal Tax(24%) | $7,368,000 | | Additional Federal Tax | $3,951,330 | | State Tax(4%) | $1,228,000 | | Net Lumpsum Payment | $18,152,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,038,519 |
$344,582
$41,541 |
$652,396 |
| 2 |
$1,090,476 |
$363,807
$43,619 |
$683,050 |
| 3 |
$1,144,986 |
$383,975
$45,799 |
$715,212 |
| 4 |
$1,202,256 |
$405,165
$48,090 |
$749,001 |
| 5 |
$1,262,355 |
$427,402
$50,494 |
$784,459 |
| 6 |
$1,325,490 |
$450,762
$53,020 |
$821,708 |
| 7 |
$1,391,730 |
$475,270
$55,669 |
$860,791 |
| 8 |
$1,461,351 |
$501,030
$58,454 |
$901,867 |
| 9 |
$1,534,422 |
$528,067
$61,377 |
$944,978 |
| 10 |
$1,611,150 |
$556,456
$64,446 |
$990,248 |
| 11 |
$1,691,673 |
$586,249
$67,667 |
$1,037,757 |
| 12 |
$1,776,267 |
$617,549
$71,051 |
$1,087,667 |
| 13 |
$1,865,070 |
$650,406
$74,603 |
$1,140,061 |
| 14 |
$1,958,358 |
$684,923
$78,334 |
$1,195,101 |
| 15 |
$2,056,269 |
$721,150
$82,251 |
$1,252,868 |
| 16 |
$2,159,079 |
$759,190
$86,363 |
$1,313,526 |
| 17 |
$2,266,995 |
$799,119
$90,680 |
$1,377,196 |
| 18 |
$2,380,362 |
$841,064
$95,214 |
$1,444,084 |
| 19 |
$2,499,387 |
$885,104
$99,975 |
$1,514,308 |
| 20 |
$2,624,346 |
$931,338
$104,974 |
$1,588,034 |
| 21 |
$2,755,584 |
$979,896
$110,223 |
$1,665,465 |
| 22 |
$2,893,377 |
$1,030,880
$115,735 |
$1,746,762 |
| 23 |
$3,038,001 |
$1,084,391
$121,520 |
$1,832,090 |
| 24 |
$3,189,939 |
$1,140,608
$127,598 |
$1,921,733 |
| 25 |
$3,349,398 |
$1,199,608
$133,976 |
$2,015,814 |
| 26 |
$3,516,930 |
$1,261,594
$140,677 |
$2,114,659 |
| 27 |
$3,692,742 |
$1,326,645
$147,710 |
$2,218,387 |
| 28 |
$3,877,386 |
$1,394,963
$155,095 |
$2,327,328 |
| 29 |
$4,071,276 |
$1,466,703
$162,851 |
$2,441,722 |
| 30 |
$4,274,826 |
$1,542,016
$170,993 |
$2,561,817 |
|
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