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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $6,941,340 | | Net Lumpsum Payment | $42,679,330 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$227,002 |
$1,434,112 |
| 2 |
$2,702,484 |
$960,249
$238,359 |
$1,503,876 |
| 3 |
$2,837,574 |
$1,010,233
$250,274 |
$1,577,067 |
| 4 |
$2,979,504 |
$1,062,747
$262,792 |
$1,653,965 |
| 5 |
$3,128,445 |
$1,117,855
$275,929 |
$1,734,661 |
| 6 |
$3,284,910 |
$1,175,747
$289,729 |
$1,819,434 |
| 7 |
$3,449,070 |
$1,236,486
$304,208 |
$1,908,376 |
| 8 |
$3,621,609 |
$1,300,326
$319,426 |
$2,001,857 |
| 9 |
$3,802,698 |
$1,367,329
$335,398 |
$2,099,971 |
| 10 |
$3,992,850 |
$1,437,685
$352,169 |
$2,202,996 |
| 11 |
$4,192,407 |
$1,511,521
$369,770 |
$2,311,116 |
| 12 |
$4,402,053 |
$1,589,090
$388,261 |
$2,424,702 |
| 13 |
$4,622,130 |
$1,670,518
$407,672 |
$2,543,940 |
| 14 |
$4,853,322 |
$1,756,060
$428,063 |
$2,669,199 |
| 15 |
$5,095,971 |
$1,845,840
$449,465 |
$2,800,666 |
| 16 |
$5,350,761 |
$1,940,112
$471,937 |
$2,938,712 |
| 17 |
$5,618,205 |
$2,039,066
$495,526 |
$3,083,613 |
| 18 |
$5,899,158 |
$2,143,019
$520,306 |
$3,235,833 |
| 19 |
$6,194,133 |
$2,252,160
$546,323 |
$3,395,650 |
| 20 |
$6,503,814 |
$2,366,742
$573,636 |
$3,563,436 |
| 21 |
$6,829,056 |
$2,487,081
$602,323 |
$3,739,652 |
| 22 |
$7,170,543 |
$2,613,431
$632,442 |
$3,924,670 |
| 23 |
$7,528,959 |
$2,746,045
$664,054 |
$4,118,860 |
| 24 |
$7,905,501 |
$2,885,366
$697,265 |
$4,322,870 |
| 25 |
$8,300,682 |
$3,031,583
$732,120 |
$4,536,979 |
| 26 |
$8,715,870 |
$3,185,202
$768,740 |
$4,761,928 |
| 27 |
$9,151,578 |
$3,346,414
$807,169 |
$4,997,995 |
| 28 |
$9,609,174 |
$3,515,725
$847,529 |
$5,245,920 |
| 29 |
$10,089,684 |
$3,693,513
$889,910 |
$5,506,261 |
| 30 |
$10,594,134 |
$3,880,160
$934,403 |
$5,779,571 |
|
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