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 North Dakota residents, the state will deduct 2.9% from your lottery earnings.
| North Dakota 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(2.9%) | $890,300 | | Net Lumpsum Payment | $18,490,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,038,519 |
$344,582
$30,117 |
$663,820 |
| 2 |
$1,090,476 |
$363,807
$31,624 |
$695,045 |
| 3 |
$1,144,986 |
$383,975
$33,205 |
$727,806 |
| 4 |
$1,202,256 |
$405,165
$34,865 |
$762,226 |
| 5 |
$1,262,355 |
$427,402
$36,608 |
$798,345 |
| 6 |
$1,325,490 |
$450,762
$38,439 |
$836,289 |
| 7 |
$1,391,730 |
$475,270
$40,360 |
$876,100 |
| 8 |
$1,461,351 |
$501,030
$42,379 |
$917,942 |
| 9 |
$1,534,422 |
$528,067
$44,498 |
$961,857 |
| 10 |
$1,611,150 |
$556,456
$46,723 |
$1,007,971 |
| 11 |
$1,691,673 |
$586,249
$49,059 |
$1,056,365 |
| 12 |
$1,776,267 |
$617,549
$51,512 |
$1,107,206 |
| 13 |
$1,865,070 |
$650,406
$54,087 |
$1,160,577 |
| 14 |
$1,958,358 |
$684,923
$56,792 |
$1,216,643 |
| 15 |
$2,056,269 |
$721,150
$59,632 |
$1,275,487 |
| 16 |
$2,159,079 |
$759,190
$62,613 |
$1,337,276 |
| 17 |
$2,266,995 |
$799,119
$65,743 |
$1,402,133 |
| 18 |
$2,380,362 |
$841,064
$69,030 |
$1,470,268 |
| 19 |
$2,499,387 |
$885,104
$72,482 |
$1,541,801 |
| 20 |
$2,624,346 |
$931,338
$76,106 |
$1,616,902 |
| 21 |
$2,755,584 |
$979,896
$79,912 |
$1,695,776 |
| 22 |
$2,893,377 |
$1,030,880
$83,908 |
$1,778,589 |
| 23 |
$3,038,001 |
$1,084,391
$88,102 |
$1,865,508 |
| 24 |
$3,189,939 |
$1,140,608
$92,508 |
$1,956,823 |
| 25 |
$3,349,398 |
$1,199,608
$97,133 |
$2,052,657 |
| 26 |
$3,516,930 |
$1,261,594
$101,991 |
$2,153,345 |
| 27 |
$3,692,742 |
$1,326,645
$107,090 |
$2,259,007 |
| 28 |
$3,877,386 |
$1,394,963
$112,444 |
$2,369,979 |
| 29 |
$4,071,276 |
$1,466,703
$118,067 |
$2,486,506 |
| 30 |
$4,274,826 |
$1,542,016
$123,970 |
$2,608,840 |
|
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