The jackpot for the Powerball draw on Sat Jan 18, 2025, is projected to be $331 Million, with an option for a cash payout of $145.1 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana Powerball Jackpot/Cash Option for Sat Jan 18, 2025 |
|---|
| Draw Date | Sat Jan 18, 2025 | | Projected Jackpot | $331,000,000 | | Cash Value | $145,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,100,000 | | Federal Tax(24%) | $34,824,000 | | Additional Federal Tax | $18,823,330 | | State Tax(6.75%) | $9,794,250 | | Net Lumpsum Payment | $81,658,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$336,277 |
$2,841,978 |
| 2 |
$5,231,124 |
$1,895,846
$353,101 |
$2,982,177 |
| 3 |
$5,492,614 |
$1,992,598
$370,751 |
$3,129,265 |
| 4 |
$5,767,344 |
$2,094,248
$389,296 |
$3,283,800 |
| 5 |
$6,055,645 |
$2,200,919
$408,756 |
$3,445,970 |
| 6 |
$6,358,510 |
$2,312,979
$429,199 |
$3,616,332 |
| 7 |
$6,676,270 |
$2,430,550
$450,648 |
$3,795,072 |
| 8 |
$7,010,249 |
$2,554,123
$473,192 |
$3,982,934 |
| 9 |
$7,360,778 |
$2,683,818
$496,853 |
$4,180,107 |
| 10 |
$7,728,850 |
$2,820,005
$521,697 |
$4,387,148 |
| 11 |
$8,115,127 |
$2,962,927
$547,771 |
$4,604,429 |
| 12 |
$8,520,933 |
$3,113,076
$575,163 |
$4,832,694 |
| 13 |
$8,946,930 |
$3,270,694
$603,918 |
$5,072,318 |
| 14 |
$9,394,442 |
$3,436,274
$634,125 |
$5,324,043 |
| 15 |
$9,864,131 |
$3,610,059
$665,829 |
$5,588,243 |
| 16 |
$10,357,321 |
$3,792,539
$699,119 |
$5,865,663 |
| 17 |
$10,875,005 |
$3,984,082
$734,063 |
$6,156,860 |
| 18 |
$11,418,838 |
$4,185,300
$770,772 |
$6,462,766 |
| 19 |
$11,989,813 |
$4,396,561
$809,312 |
$6,783,940 |
| 20 |
$12,589,254 |
$4,618,354
$849,775 |
$7,121,125 |
| 21 |
$13,218,816 |
$4,851,292
$892,270 |
$7,475,254 |
| 22 |
$13,879,823 |
$5,095,865
$936,888 |
$7,847,070 |
| 23 |
$14,573,599 |
$5,352,562
$983,718 |
$8,237,319 |
| 24 |
$15,302,461 |
$5,622,241
$1,032,916 |
$8,647,304 |
| 25 |
$16,067,402 |
$5,905,269
$1,084,550 |
$9,077,583 |
| 26 |
$16,871,070 |
$6,202,626
$1,138,797 |
$9,529,647 |
| 27 |
$17,714,458 |
$6,514,680
$1,195,726 |
$10,004,052 |
| 28 |
$18,600,214 |
$6,842,410
$1,255,514 |
$10,502,290 |
| 29 |
$19,530,324 |
$7,186,550
$1,318,297 |
$11,025,477 |
| 30 |
$20,506,774 |
$7,547,837
$1,384,207 |
$11,574,730 |
|
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