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 North Dakota residents, the state will deduct 2.9% from your lottery earnings.
| North Dakota 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(2.9%) | $4,207,900 | | Net Lumpsum Payment | $87,244,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$144,475 |
$3,033,780 |
| 2 |
$5,231,124 |
$1,895,846
$151,703 |
$3,183,575 |
| 3 |
$5,492,614 |
$1,992,598
$159,286 |
$3,340,730 |
| 4 |
$5,767,344 |
$2,094,248
$167,253 |
$3,505,843 |
| 5 |
$6,055,645 |
$2,200,919
$175,614 |
$3,679,112 |
| 6 |
$6,358,510 |
$2,312,979
$184,397 |
$3,861,134 |
| 7 |
$6,676,270 |
$2,430,550
$193,612 |
$4,052,108 |
| 8 |
$7,010,249 |
$2,554,123
$203,297 |
$4,252,829 |
| 9 |
$7,360,778 |
$2,683,818
$213,463 |
$4,463,497 |
| 10 |
$7,728,850 |
$2,820,005
$224,137 |
$4,684,708 |
| 11 |
$8,115,127 |
$2,962,927
$235,339 |
$4,916,861 |
| 12 |
$8,520,933 |
$3,113,076
$247,107 |
$5,160,750 |
| 13 |
$8,946,930 |
$3,270,694
$259,461 |
$5,416,775 |
| 14 |
$9,394,442 |
$3,436,274
$272,439 |
$5,685,729 |
| 15 |
$9,864,131 |
$3,610,059
$286,060 |
$5,968,012 |
| 16 |
$10,357,321 |
$3,792,539
$300,362 |
$6,264,420 |
| 17 |
$10,875,005 |
$3,984,082
$315,375 |
$6,575,548 |
| 18 |
$11,418,838 |
$4,185,300
$331,146 |
$6,902,392 |
| 19 |
$11,989,813 |
$4,396,561
$347,705 |
$7,245,547 |
| 20 |
$12,589,254 |
$4,618,354
$365,088 |
$7,605,812 |
| 21 |
$13,218,816 |
$4,851,292
$383,346 |
$7,984,178 |
| 22 |
$13,879,823 |
$5,095,865
$402,515 |
$8,381,443 |
| 23 |
$14,573,599 |
$5,352,562
$422,634 |
$8,798,403 |
| 24 |
$15,302,461 |
$5,622,241
$443,771 |
$9,236,449 |
| 25 |
$16,067,402 |
$5,905,269
$465,955 |
$9,696,178 |
| 26 |
$16,871,070 |
$6,202,626
$489,261 |
$10,179,183 |
| 27 |
$17,714,458 |
$6,514,680
$513,719 |
$10,686,059 |
| 28 |
$18,600,214 |
$6,842,410
$539,406 |
$11,218,398 |
| 29 |
$19,530,324 |
$7,186,550
$566,379 |
$11,777,395 |
| 30 |
$20,506,774 |
$7,547,837
$594,696 |
$12,364,241 |
|
|
