Jackpot Analysis Montana Powerball

Jackpot Analysis for Montana Powerball
The jackpot for the Powerball draw on Sat Nov 2, 2024, is projected to be $54 Million, with an option for a cash payout of $25.8 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 2, 2024
Draw DateSat Nov 2, 2024
Projected Jackpot$54,000,000
Cash Value$25,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$25,800,000
Federal Tax(24%)$6,192,000
Additional Federal Tax$3,314,330
State Tax(6.75%)$1,741,500
Net Lumpsum Payment$14,552,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $812,754 $261,049
$54,861
$496,844
2 $853,416 $276,094
$57,606
$519,716
3 $896,076 $291,879
$60,485
$543,712
4 $940,896 $308,462
$63,510
$568,924
5 $987,930 $325,864
$66,685
$595,381
6 $1,037,340 $344,146
$70,020
$623,174
7 $1,089,180 $363,327
$73,520
$652,333
8 $1,143,666 $383,487
$77,197
$682,982
9 $1,200,852 $404,646
$81,058
$715,148
10 $1,260,900 $426,863
$85,111
$748,926
11 $1,323,918 $450,180
$89,364
$784,374
12 $1,390,122 $474,676
$93,833
$821,613
13 $1,459,620 $500,390
$98,524
$860,706
14 $1,532,628 $527,403
$103,452
$901,773
15 $1,609,254 $555,754
$108,625
$944,875
16 $1,689,714 $585,525
$114,056
$990,133
17 $1,774,170 $616,773
$119,756
$1,037,641
18 $1,862,892 $649,600
$125,745
$1,087,547
19 $1,956,042 $684,066
$132,033
$1,139,943
20 $2,053,836 $720,250
$138,634
$1,194,952
21 $2,156,544 $758,252
$145,567
$1,252,725
22 $2,264,382 $798,152
$152,846
$1,313,384
23 $2,377,566 $840,030
$160,486
$1,377,050
24 $2,496,474 $884,026
$168,512
$1,443,936
25 $2,621,268 $930,200
$176,936
$1,514,132
26 $2,752,380 $978,711
$185,786
$1,587,883
27 $2,889,972 $1,029,620
$195,073
$1,665,279
28 $3,034,476 $1,083,087
$204,827
$1,746,562
29 $3,186,216 $1,139,230
$215,070
$1,831,916
30 $3,345,516 $1,198,171
$225,822
$1,921,523