The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC Powerball Jackpot/Cash Option for Sat Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(10.75%) | $10,642,500 | | Net Lumpsum Payment | $51,767,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$346,248 |
$1,722,597 |
| 2 |
$3,382,056 |
$1,211,691
$363,571 |
$1,806,794 |
| 3 |
$3,551,116 |
$1,274,243
$381,745 |
$1,895,128 |
| 4 |
$3,728,736 |
$1,339,963
$400,839 |
$1,987,934 |
| 5 |
$3,915,130 |
$1,408,928
$420,876 |
$2,085,326 |
| 6 |
$4,110,940 |
$1,481,378
$441,926 |
$2,187,636 |
| 7 |
$4,316,380 |
$1,557,391
$464,011 |
$2,294,978 |
| 8 |
$4,532,306 |
$1,637,284
$487,223 |
$2,407,799 |
| 9 |
$4,758,932 |
$1,721,135
$511,585 |
$2,526,212 |
| 10 |
$4,996,900 |
$1,809,183
$537,167 |
$2,650,550 |
| 11 |
$5,246,638 |
$1,901,586
$564,014 |
$2,781,038 |
| 12 |
$5,509,002 |
$1,998,661
$592,218 |
$2,918,123 |
| 13 |
$5,784,420 |
$2,100,566
$621,825 |
$3,062,029 |
| 14 |
$6,073,748 |
$2,207,617
$652,928 |
$3,213,203 |
| 15 |
$6,377,414 |
$2,319,974
$685,572 |
$3,371,868 |
| 16 |
$6,696,274 |
$2,437,952
$719,849 |
$3,538,473 |
| 17 |
$7,030,970 |
$2,561,789
$755,829 |
$3,713,352 |
| 18 |
$7,382,572 |
$2,691,882
$793,626 |
$3,897,064 |
| 19 |
$7,751,722 |
$2,828,468
$833,310 |
$4,089,944 |
| 20 |
$8,139,276 |
$2,971,863
$874,972 |
$4,292,441 |
| 21 |
$8,546,304 |
$3,122,463
$918,728 |
$4,505,113 |
| 22 |
$8,973,662 |
$3,280,585
$964,669 |
$4,728,408 |
| 23 |
$9,422,206 |
$3,446,547
$1,012,887 |
$4,962,772 |
| 24 |
$9,893,434 |
$3,620,901
$1,063,544 |
$5,208,989 |
| 25 |
$10,387,988 |
$3,803,886
$1,116,709 |
$5,467,393 |
| 26 |
$10,907,580 |
$3,996,135
$1,172,565 |
$5,738,880 |
| 27 |
$11,452,852 |
$4,197,886
$1,231,182 |
$6,023,784 |
| 28 |
$12,025,516 |
$4,409,771
$1,292,743 |
$6,323,002 |
| 29 |
$12,626,856 |
$4,632,267
$1,357,387 |
$6,637,202 |
| 30 |
$13,258,156 |
$4,865,848
$1,425,252 |
$6,967,056 |
|
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