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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $2,416,090 | | Net Lumpsum Payment | $47,204,580 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$79,013 |
$1,582,101 |
| 2 |
$2,702,484 |
$960,249
$82,966 |
$1,659,269 |
| 3 |
$2,837,574 |
$1,010,233
$87,114 |
$1,740,227 |
| 4 |
$2,979,504 |
$1,062,747
$91,471 |
$1,825,286 |
| 5 |
$3,128,445 |
$1,117,855
$96,043 |
$1,914,547 |
| 6 |
$3,284,910 |
$1,175,747
$100,847 |
$2,008,316 |
| 7 |
$3,449,070 |
$1,236,486
$105,886 |
$2,106,698 |
| 8 |
$3,621,609 |
$1,300,326
$111,183 |
$2,210,100 |
| 9 |
$3,802,698 |
$1,367,329
$116,743 |
$2,318,626 |
| 10 |
$3,992,850 |
$1,437,685
$122,580 |
$2,432,585 |
| 11 |
$4,192,407 |
$1,511,521
$128,707 |
$2,552,179 |
| 12 |
$4,402,053 |
$1,589,090
$135,143 |
$2,677,820 |
| 13 |
$4,622,130 |
$1,670,518
$141,899 |
$2,809,713 |
| 14 |
$4,853,322 |
$1,756,060
$148,997 |
$2,948,265 |
| 15 |
$5,095,971 |
$1,845,840
$156,446 |
$3,093,685 |
| 16 |
$5,350,761 |
$1,940,112
$164,268 |
$3,246,381 |
| 17 |
$5,618,205 |
$2,039,066
$172,479 |
$3,406,660 |
| 18 |
$5,899,158 |
$2,143,019
$181,104 |
$3,575,035 |
| 19 |
$6,194,133 |
$2,252,160
$190,160 |
$3,751,813 |
| 20 |
$6,503,814 |
$2,366,742
$199,667 |
$3,937,405 |
| 21 |
$6,829,056 |
$2,487,081
$209,652 |
$4,132,323 |
| 22 |
$7,170,543 |
$2,613,431
$220,136 |
$4,336,976 |
| 23 |
$7,528,959 |
$2,746,045
$231,139 |
$4,551,775 |
| 24 |
$7,905,501 |
$2,885,366
$242,699 |
$4,777,436 |
| 25 |
$8,300,682 |
$3,031,583
$254,831 |
$5,014,268 |
| 26 |
$8,715,870 |
$3,185,202
$267,577 |
$5,263,091 |
| 27 |
$9,151,578 |
$3,346,414
$280,953 |
$5,524,211 |
| 28 |
$9,609,174 |
$3,515,725
$295,002 |
$5,798,447 |
| 29 |
$10,089,684 |
$3,693,513
$309,753 |
$6,086,418 |
| 30 |
$10,594,134 |
$3,880,160
$325,240 |
$6,388,734 |
|
|
