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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $6,892,250 | | Net Lumpsum Payment | $84,560,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$236,639 |
$2,941,616 |
| 2 |
$5,231,124 |
$1,895,846
$248,478 |
$3,086,800 |
| 3 |
$5,492,614 |
$1,992,598
$260,899 |
$3,239,117 |
| 4 |
$5,767,344 |
$2,094,248
$273,949 |
$3,399,147 |
| 5 |
$6,055,645 |
$2,200,919
$287,643 |
$3,567,083 |
| 6 |
$6,358,510 |
$2,312,979
$302,029 |
$3,743,502 |
| 7 |
$6,676,270 |
$2,430,550
$317,123 |
$3,928,597 |
| 8 |
$7,010,249 |
$2,554,123
$332,987 |
$4,123,139 |
| 9 |
$7,360,778 |
$2,683,818
$349,637 |
$4,327,323 |
| 10 |
$7,728,850 |
$2,820,005
$367,120 |
$4,541,725 |
| 11 |
$8,115,127 |
$2,962,927
$385,469 |
$4,766,731 |
| 12 |
$8,520,933 |
$3,113,076
$404,744 |
$5,003,113 |
| 13 |
$8,946,930 |
$3,270,694
$424,979 |
$5,251,257 |
| 14 |
$9,394,442 |
$3,436,274
$446,236 |
$5,511,932 |
| 15 |
$9,864,131 |
$3,610,059
$468,546 |
$5,785,526 |
| 16 |
$10,357,321 |
$3,792,539
$491,973 |
$6,072,809 |
| 17 |
$10,875,005 |
$3,984,082
$516,563 |
$6,374,360 |
| 18 |
$11,418,838 |
$4,185,300
$542,395 |
$6,691,143 |
| 19 |
$11,989,813 |
$4,396,561
$569,516 |
$7,023,736 |
| 20 |
$12,589,254 |
$4,618,354
$597,990 |
$7,372,910 |
| 21 |
$13,218,816 |
$4,851,292
$627,894 |
$7,739,630 |
| 22 |
$13,879,823 |
$5,095,865
$659,292 |
$8,124,666 |
| 23 |
$14,573,599 |
$5,352,562
$692,246 |
$8,528,791 |
| 24 |
$15,302,461 |
$5,622,241
$726,867 |
$8,953,353 |
| 25 |
$16,067,402 |
$5,905,269
$763,202 |
$9,398,931 |
| 26 |
$16,871,070 |
$6,202,626
$801,376 |
$9,867,068 |
| 27 |
$17,714,458 |
$6,514,680
$841,437 |
$10,358,341 |
| 28 |
$18,600,214 |
$6,842,410
$883,510 |
$10,874,294 |
| 29 |
$19,530,324 |
$7,186,550
$927,690 |
$11,416,084 |
| 30 |
$20,506,774 |
$7,547,837
$974,072 |
$11,984,865 |
|
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