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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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(6%) | $4,722,000 | | Net Lumpsum Payment | $44,898,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$154,423 |
$1,506,691 |
| 2 |
$2,702,484 |
$960,249
$162,149 |
$1,580,086 |
| 3 |
$2,837,574 |
$1,010,233
$170,254 |
$1,657,087 |
| 4 |
$2,979,504 |
$1,062,747
$178,770 |
$1,737,987 |
| 5 |
$3,128,445 |
$1,117,855
$187,707 |
$1,822,883 |
| 6 |
$3,284,910 |
$1,175,747
$197,095 |
$1,912,068 |
| 7 |
$3,449,070 |
$1,236,486
$206,944 |
$2,005,640 |
| 8 |
$3,621,609 |
$1,300,326
$217,297 |
$2,103,986 |
| 9 |
$3,802,698 |
$1,367,329
$228,162 |
$2,207,207 |
| 10 |
$3,992,850 |
$1,437,685
$239,571 |
$2,315,594 |
| 11 |
$4,192,407 |
$1,511,521
$251,544 |
$2,429,342 |
| 12 |
$4,402,053 |
$1,589,090
$264,123 |
$2,548,840 |
| 13 |
$4,622,130 |
$1,670,518
$277,328 |
$2,674,284 |
| 14 |
$4,853,322 |
$1,756,060
$291,199 |
$2,806,063 |
| 15 |
$5,095,971 |
$1,845,840
$305,758 |
$2,944,373 |
| 16 |
$5,350,761 |
$1,940,112
$321,046 |
$3,089,603 |
| 17 |
$5,618,205 |
$2,039,066
$337,092 |
$3,242,047 |
| 18 |
$5,899,158 |
$2,143,019
$353,949 |
$3,402,190 |
| 19 |
$6,194,133 |
$2,252,160
$371,648 |
$3,570,325 |
| 20 |
$6,503,814 |
$2,366,742
$390,229 |
$3,746,843 |
| 21 |
$6,829,056 |
$2,487,081
$409,743 |
$3,932,232 |
| 22 |
$7,170,543 |
$2,613,431
$430,233 |
$4,126,879 |
| 23 |
$7,528,959 |
$2,746,045
$451,738 |
$4,331,176 |
| 24 |
$7,905,501 |
$2,885,366
$474,330 |
$4,545,805 |
| 25 |
$8,300,682 |
$3,031,583
$498,041 |
$4,771,058 |
| 26 |
$8,715,870 |
$3,185,202
$522,952 |
$5,007,716 |
| 27 |
$9,151,578 |
$3,346,414
$549,095 |
$5,256,069 |
| 28 |
$9,609,174 |
$3,515,725
$576,550 |
$5,516,899 |
| 29 |
$10,089,684 |
$3,693,513
$605,381 |
$5,790,790 |
| 30 |
$10,594,134 |
$3,880,160
$635,648 |
$6,078,326 |
|
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