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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $5,312,250 | | Net Lumpsum Payment | $44,308,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$173,726 |
$1,487,388 |
| 2 |
$2,702,484 |
$960,249
$182,418 |
$1,559,817 |
| 3 |
$2,837,574 |
$1,010,233
$191,536 |
$1,635,805 |
| 4 |
$2,979,504 |
$1,062,747
$201,117 |
$1,715,640 |
| 5 |
$3,128,445 |
$1,117,855
$211,170 |
$1,799,420 |
| 6 |
$3,284,910 |
$1,175,747
$221,731 |
$1,887,432 |
| 7 |
$3,449,070 |
$1,236,486
$232,812 |
$1,979,772 |
| 8 |
$3,621,609 |
$1,300,326
$244,459 |
$2,076,824 |
| 9 |
$3,802,698 |
$1,367,329
$256,682 |
$2,178,687 |
| 10 |
$3,992,850 |
$1,437,685
$269,517 |
$2,285,648 |
| 11 |
$4,192,407 |
$1,511,521
$282,987 |
$2,397,899 |
| 12 |
$4,402,053 |
$1,589,090
$297,139 |
$2,515,824 |
| 13 |
$4,622,130 |
$1,670,518
$311,994 |
$2,639,618 |
| 14 |
$4,853,322 |
$1,756,060
$327,599 |
$2,769,663 |
| 15 |
$5,095,971 |
$1,845,840
$343,978 |
$2,906,153 |
| 16 |
$5,350,761 |
$1,940,112
$361,176 |
$3,049,473 |
| 17 |
$5,618,205 |
$2,039,066
$379,229 |
$3,199,910 |
| 18 |
$5,899,158 |
$2,143,019
$398,193 |
$3,357,946 |
| 19 |
$6,194,133 |
$2,252,160
$418,104 |
$3,523,869 |
| 20 |
$6,503,814 |
$2,366,742
$439,007 |
$3,698,065 |
| 21 |
$6,829,056 |
$2,487,081
$460,961 |
$3,881,014 |
| 22 |
$7,170,543 |
$2,613,431
$484,012 |
$4,073,100 |
| 23 |
$7,528,959 |
$2,746,045
$508,205 |
$4,274,709 |
| 24 |
$7,905,501 |
$2,885,366
$533,621 |
$4,486,514 |
| 25 |
$8,300,682 |
$3,031,583
$560,296 |
$4,708,803 |
| 26 |
$8,715,870 |
$3,185,202
$588,321 |
$4,942,347 |
| 27 |
$9,151,578 |
$3,346,414
$617,732 |
$5,187,432 |
| 28 |
$9,609,174 |
$3,515,725
$648,619 |
$5,444,830 |
| 29 |
$10,089,684 |
$3,693,513
$681,054 |
$5,715,117 |
| 30 |
$10,594,134 |
$3,880,160
$715,104 |
$5,998,870 |
|
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