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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia 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(5.75%) | $4,525,250 | | Net Lumpsum Payment | $45,095,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$147,989 |
$1,513,125 |
| 2 |
$2,702,484 |
$960,249
$155,393 |
$1,586,842 |
| 3 |
$2,837,574 |
$1,010,233
$163,161 |
$1,664,180 |
| 4 |
$2,979,504 |
$1,062,747
$171,321 |
$1,745,436 |
| 5 |
$3,128,445 |
$1,117,855
$179,886 |
$1,830,704 |
| 6 |
$3,284,910 |
$1,175,747
$188,882 |
$1,920,281 |
| 7 |
$3,449,070 |
$1,236,486
$198,322 |
$2,014,262 |
| 8 |
$3,621,609 |
$1,300,326
$208,243 |
$2,113,040 |
| 9 |
$3,802,698 |
$1,367,329
$218,655 |
$2,216,714 |
| 10 |
$3,992,850 |
$1,437,685
$229,589 |
$2,325,576 |
| 11 |
$4,192,407 |
$1,511,521
$241,063 |
$2,439,823 |
| 12 |
$4,402,053 |
$1,589,090
$253,118 |
$2,559,845 |
| 13 |
$4,622,130 |
$1,670,518
$265,772 |
$2,685,840 |
| 14 |
$4,853,322 |
$1,756,060
$279,066 |
$2,818,196 |
| 15 |
$5,095,971 |
$1,845,840
$293,018 |
$2,957,113 |
| 16 |
$5,350,761 |
$1,940,112
$307,669 |
$3,102,980 |
| 17 |
$5,618,205 |
$2,039,066
$323,047 |
$3,256,092 |
| 18 |
$5,899,158 |
$2,143,019
$339,202 |
$3,416,937 |
| 19 |
$6,194,133 |
$2,252,160
$356,163 |
$3,585,810 |
| 20 |
$6,503,814 |
$2,366,742
$373,969 |
$3,763,103 |
| 21 |
$6,829,056 |
$2,487,081
$392,671 |
$3,949,304 |
| 22 |
$7,170,543 |
$2,613,431
$412,306 |
$4,144,806 |
| 23 |
$7,528,959 |
$2,746,045
$432,915 |
$4,349,999 |
| 24 |
$7,905,501 |
$2,885,366
$454,566 |
$4,565,569 |
| 25 |
$8,300,682 |
$3,031,583
$477,289 |
$4,791,810 |
| 26 |
$8,715,870 |
$3,185,202
$501,163 |
$5,029,505 |
| 27 |
$9,151,578 |
$3,346,414
$526,216 |
$5,278,948 |
| 28 |
$9,609,174 |
$3,515,725
$552,528 |
$5,540,921 |
| 29 |
$10,089,684 |
$3,693,513
$580,157 |
$5,816,014 |
| 30 |
$10,594,134 |
$3,880,160
$609,163 |
$6,104,811 |
|
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