Jackpot Analysis Puerto Rico Powerball

Jackpot Analysis for Puerto Rico Powerball
The jackpot for the Powerball draw on Mon Dec 23, 2024, is projected to be $103 Million, with an option for a cash payout of $47 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 those living in Puerto Rico, the bright side is you won't have to pay any state taxes on your lottery prize.

Puerto Rico Powerball Jackpot/Cash Option for Mon Dec 23, 2024
Draw DateMon Dec 23, 2024
Projected Jackpot$103,000,000
Cash Value$47,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$47,000,000
Federal Tax(24%)$11,280,000
Additional Federal Tax$6,070,330
State Tax(0%)$0
Net Lumpsum Payment$29,649,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,550,253 $533,924
$0
$1,016,329
2 $1,627,812 $562,621
$0
$1,065,191
3 $1,709,182 $592,728
$0
$1,116,454
4 $1,794,672 $624,359
$0
$1,170,313
5 $1,884,385 $657,553
$0
$1,226,832
6 $1,978,630 $692,423
$0
$1,286,207
7 $2,077,510 $729,009
$0
$1,348,501
8 $2,181,437 $767,462
$0
$1,413,975
9 $2,290,514 $807,821
$0
$1,482,693
10 $2,405,050 $850,199
$0
$1,554,851
11 $2,525,251 $894,673
$0
$1,630,578
12 $2,651,529 $941,396
$0
$1,710,133
13 $2,784,090 $990,444
$0
$1,793,646
14 $2,923,346 $1,041,968
$0
$1,881,378
15 $3,069,503 $1,096,046
$0
$1,973,457
16 $3,222,973 $1,152,830
$0
$2,070,143
17 $3,384,065 $1,212,434
$0
$2,171,631
18 $3,553,294 $1,275,049
$0
$2,278,245
19 $3,730,969 $1,340,789
$0
$2,390,180
20 $3,917,502 $1,409,806
$0
$2,507,696
21 $4,113,408 $1,482,291
$0
$2,631,117
22 $4,319,099 $1,558,397
$0
$2,760,702
23 $4,534,987 $1,638,276
$0
$2,896,711
24 $4,761,793 $1,722,194
$0
$3,039,599
25 $4,999,826 $1,810,266
$0
$3,189,560
26 $5,249,910 $1,902,797
$0
$3,347,113
27 $5,512,354 $1,999,901
$0
$3,512,453
28 $5,787,982 $2,101,884
$0
$3,686,098
29 $6,077,412 $2,208,973
$0
$3,868,439
30 $6,381,262 $2,321,397
$0
$4,059,865