Jackpot Analysis Missouri Powerball

Jackpot Analysis for Missouri Powerball
The jackpot for the Powerball draw on Sat Nov 16, 2024, is projected to be $130 Million, with an option for a cash payout of $61.4 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 Sat Nov 16, 2024
Draw DateSat Nov 16, 2024
Projected Jackpot$130,000,000
Cash Value$61,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$61,400,000
Federal Tax(24%)$14,736,000
Additional Federal Tax$7,942,330
State Tax(4%)$2,456,000
Net Lumpsum Payment$36,265,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,956,630 $684,283
$78,265
$1,194,082
2 $2,054,520 $720,503
$82,181
$1,251,836
3 $2,157,220 $758,502
$86,289
$1,312,429
4 $2,265,120 $798,425
$90,605
$1,376,090
5 $2,378,350 $840,320
$95,134
$1,442,896
6 $2,497,300 $884,331
$99,892
$1,513,077
7 $2,622,100 $930,507
$104,884
$1,586,709
8 $2,753,270 $979,040
$110,131
$1,664,099
9 $2,890,940 $1,029,978
$115,638
$1,745,324
10 $3,035,500 $1,083,465
$121,420
$1,830,615
11 $3,187,210 $1,139,598
$127,488
$1,920,124
12 $3,346,590 $1,198,569
$133,864
$2,014,157
13 $3,513,900 $1,260,473
$140,556
$2,112,871
14 $3,689,660 $1,325,505
$147,586
$2,216,569
15 $3,874,130 $1,393,758
$154,965
$2,325,407
16 $4,067,830 $1,465,427
$162,713
$2,439,690
17 $4,271,150 $1,540,656
$170,846
$2,559,648
18 $4,484,740 $1,619,684
$179,390
$2,685,666
19 $4,708,990 $1,702,657
$188,360
$2,817,973
20 $4,944,420 $1,789,766
$197,777
$2,956,877
21 $5,191,680 $1,881,252
$207,667
$3,102,761
22 $5,451,290 $1,977,308
$218,052
$3,255,930
23 $5,723,770 $2,078,125
$228,951
$3,416,694
24 $6,010,030 $2,184,041
$240,401
$3,585,588
25 $6,310,460 $2,295,201
$252,418
$3,762,841
26 $6,626,100 $2,411,987
$265,044
$3,949,069
27 $6,957,340 $2,534,546
$278,294
$4,144,500
28 $7,305,220 $2,663,262
$292,209
$4,349,749
29 $7,670,520 $2,798,423
$306,821
$4,565,276
30 $8,054,020 $2,940,318
$322,161
$4,791,541