The jackpot for the Powerball draw on Mon Feb 24, 2025, is projected to be $230 Million, with an option for a cash payout of $105.2 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana Powerball Jackpot/Cash Option for Mon Feb 24, 2025 |
|---|
| Draw Date | Mon Feb 24, 2025 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,200,000 | | Federal Tax(24%) | $25,248,000 | | Additional Federal Tax | $13,636,330 | | State Tax(6.75%) | $7,101,000 | | Net Lumpsum Payment | $59,214,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$233,667 |
$1,986,893 |
| 2 |
$3,634,920 |
$1,305,251
$245,357 |
$2,084,312 |
| 3 |
$3,816,620 |
$1,372,480
$257,622 |
$2,186,518 |
| 4 |
$4,007,520 |
$1,443,113
$270,508 |
$2,293,899 |
| 5 |
$4,207,850 |
$1,517,235
$284,030 |
$2,406,585 |
| 6 |
$4,418,300 |
$1,595,101
$298,235 |
$2,524,964 |
| 7 |
$4,639,100 |
$1,676,797
$313,139 |
$2,649,164 |
| 8 |
$4,871,170 |
$1,762,663
$328,804 |
$2,779,703 |
| 9 |
$5,114,740 |
$1,852,784
$345,245 |
$2,916,711 |
| 10 |
$5,370,500 |
$1,947,415
$362,509 |
$3,060,576 |
| 11 |
$5,638,910 |
$2,046,727
$380,626 |
$3,211,557 |
| 12 |
$5,920,890 |
$2,151,060
$399,660 |
$3,370,170 |
| 13 |
$6,216,900 |
$2,260,583
$419,641 |
$3,536,676 |
| 14 |
$6,527,860 |
$2,375,639
$440,631 |
$3,711,590 |
| 15 |
$6,854,230 |
$2,496,395
$462,661 |
$3,895,174 |
| 16 |
$7,196,930 |
$2,623,194
$485,793 |
$4,087,943 |
| 17 |
$7,556,650 |
$2,756,291
$510,074 |
$4,290,285 |
| 18 |
$7,934,540 |
$2,896,110
$535,581 |
$4,502,849 |
| 19 |
$8,331,290 |
$3,042,908
$562,362 |
$4,726,020 |
| 20 |
$8,747,820 |
$3,197,024
$590,478 |
$4,960,318 |
| 21 |
$9,185,280 |
$3,358,884
$620,006 |
$5,206,390 |
| 22 |
$9,644,590 |
$3,528,829
$651,010 |
$5,464,751 |
| 23 |
$10,126,670 |
$3,707,198
$683,550 |
$5,735,922 |
| 24 |
$10,633,130 |
$3,894,588
$717,736 |
$6,020,806 |
| 25 |
$11,164,660 |
$4,091,255
$753,615 |
$6,319,790 |
| 26 |
$11,723,100 |
$4,297,877
$791,309 |
$6,633,914 |
| 27 |
$12,309,140 |
$4,514,712
$830,867 |
$6,963,561 |
| 28 |
$12,924,620 |
$4,742,440
$872,412 |
$7,309,768 |
| 29 |
$13,570,920 |
$4,981,571
$916,037 |
$7,673,312 |
| 30 |
$14,249,420 |
$5,232,616
$961,836 |
$8,054,968 |
|
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