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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC 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(10.75%) | $8,460,250 | | Net Lumpsum Payment | $41,160,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$276,675 |
$1,384,439 |
| 2 |
$2,702,484 |
$960,249
$290,517 |
$1,451,718 |
| 3 |
$2,837,574 |
$1,010,233
$305,039 |
$1,522,302 |
| 4 |
$2,979,504 |
$1,062,747
$320,297 |
$1,596,460 |
| 5 |
$3,128,445 |
$1,117,855
$336,308 |
$1,674,282 |
| 6 |
$3,284,910 |
$1,175,747
$353,128 |
$1,756,035 |
| 7 |
$3,449,070 |
$1,236,486
$370,775 |
$1,841,809 |
| 8 |
$3,621,609 |
$1,300,326
$389,323 |
$1,931,960 |
| 9 |
$3,802,698 |
$1,367,329
$408,790 |
$2,026,579 |
| 10 |
$3,992,850 |
$1,437,685
$429,231 |
$2,125,934 |
| 11 |
$4,192,407 |
$1,511,521
$450,684 |
$2,230,202 |
| 12 |
$4,402,053 |
$1,589,090
$473,221 |
$2,339,742 |
| 13 |
$4,622,130 |
$1,670,518
$496,879 |
$2,454,733 |
| 14 |
$4,853,322 |
$1,756,060
$521,732 |
$2,575,530 |
| 15 |
$5,095,971 |
$1,845,840
$547,817 |
$2,702,314 |
| 16 |
$5,350,761 |
$1,940,112
$575,207 |
$2,835,442 |
| 17 |
$5,618,205 |
$2,039,066
$603,957 |
$2,975,182 |
| 18 |
$5,899,158 |
$2,143,019
$634,159 |
$3,121,980 |
| 19 |
$6,194,133 |
$2,252,160
$665,869 |
$3,276,104 |
| 20 |
$6,503,814 |
$2,366,742
$699,160 |
$3,437,912 |
| 21 |
$6,829,056 |
$2,487,081
$734,124 |
$3,607,851 |
| 22 |
$7,170,543 |
$2,613,431
$770,833 |
$3,786,279 |
| 23 |
$7,528,959 |
$2,746,045
$809,363 |
$3,973,551 |
| 24 |
$7,905,501 |
$2,885,366
$849,841 |
$4,170,294 |
| 25 |
$8,300,682 |
$3,031,583
$892,323 |
$4,376,776 |
| 26 |
$8,715,870 |
$3,185,202
$936,956 |
$4,593,712 |
| 27 |
$9,151,578 |
$3,346,414
$983,795 |
$4,821,369 |
| 28 |
$9,609,174 |
$3,515,725
$1,032,986 |
$5,060,463 |
| 29 |
$10,089,684 |
$3,693,513
$1,084,641 |
$5,311,530 |
| 30 |
$10,594,134 |
$3,880,160
$1,138,869 |
$5,575,105 |
|
|
