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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina 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(4.75%) | $3,738,250 | | Net Lumpsum Payment | $45,882,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$122,252 |
$1,538,862 |
| 2 |
$2,702,484 |
$960,249
$128,368 |
$1,613,867 |
| 3 |
$2,837,574 |
$1,010,233
$134,785 |
$1,692,556 |
| 4 |
$2,979,504 |
$1,062,747
$141,526 |
$1,775,231 |
| 5 |
$3,128,445 |
$1,117,855
$148,601 |
$1,861,989 |
| 6 |
$3,284,910 |
$1,175,747
$156,033 |
$1,953,130 |
| 7 |
$3,449,070 |
$1,236,486
$163,831 |
$2,048,753 |
| 8 |
$3,621,609 |
$1,300,326
$172,026 |
$2,149,257 |
| 9 |
$3,802,698 |
$1,367,329
$180,628 |
$2,254,741 |
| 10 |
$3,992,850 |
$1,437,685
$189,660 |
$2,365,505 |
| 11 |
$4,192,407 |
$1,511,521
$199,139 |
$2,481,747 |
| 12 |
$4,402,053 |
$1,589,090
$209,098 |
$2,603,865 |
| 13 |
$4,622,130 |
$1,670,518
$219,551 |
$2,732,061 |
| 14 |
$4,853,322 |
$1,756,060
$230,533 |
$2,866,729 |
| 15 |
$5,095,971 |
$1,845,840
$242,059 |
$3,008,072 |
| 16 |
$5,350,761 |
$1,940,112
$254,161 |
$3,156,488 |
| 17 |
$5,618,205 |
$2,039,066
$266,865 |
$3,312,274 |
| 18 |
$5,899,158 |
$2,143,019
$280,210 |
$3,475,929 |
| 19 |
$6,194,133 |
$2,252,160
$294,221 |
$3,647,752 |
| 20 |
$6,503,814 |
$2,366,742
$308,931 |
$3,828,141 |
| 21 |
$6,829,056 |
$2,487,081
$324,380 |
$4,017,595 |
| 22 |
$7,170,543 |
$2,613,431
$340,601 |
$4,216,511 |
| 23 |
$7,528,959 |
$2,746,045
$357,626 |
$4,425,288 |
| 24 |
$7,905,501 |
$2,885,366
$375,511 |
$4,644,624 |
| 25 |
$8,300,682 |
$3,031,583
$394,282 |
$4,874,817 |
| 26 |
$8,715,870 |
$3,185,202
$414,004 |
$5,116,664 |
| 27 |
$9,151,578 |
$3,346,414
$434,700 |
$5,370,464 |
| 28 |
$9,609,174 |
$3,515,725
$456,436 |
$5,637,013 |
| 29 |
$10,089,684 |
$3,693,513
$479,260 |
$5,916,911 |
| 30 |
$10,594,134 |
$3,880,160
$503,221 |
$6,210,753 |
|
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