Jackpot Analysis Georgia Powerball

Jackpot Analysis for Georgia Powerball
The jackpot for the Powerball draw on Mon Jan 13, 2025, is projected to be $285 Million, with an option for a cash payout of $124.9 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.

Georgia Powerball Jackpot/Cash Option for Mon Jan 13, 2025
Draw DateMon Jan 13, 2025
Projected Jackpot$285,000,000
Cash Value$124,900,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$124,900,000
Federal Tax(24%)$29,976,000
Additional Federal Tax$16,197,330
State Tax(5.75%)$7,181,750
Net Lumpsum Payment$71,544,920
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $4,289,535 $1,547,458
$246,648
$2,495,429
2 $4,504,140 $1,626,862
$258,988
$2,618,290
3 $4,729,290 $1,710,168
$271,934
$2,747,188
4 $4,965,840 $1,797,691
$285,536
$2,882,613
5 $5,214,075 $1,889,538
$299,809
$3,024,728
6 $5,474,850 $1,986,025
$314,804
$3,174,021
7 $5,748,450 $2,087,257
$330,536
$3,330,657
8 $6,036,015 $2,193,656
$347,071
$3,495,288
9 $6,337,830 $2,305,327
$364,425
$3,668,078
10 $6,654,750 $2,422,588
$382,648
$3,849,514
11 $6,987,345 $2,545,648
$401,772
$4,039,925
12 $7,336,755 $2,674,930
$421,863
$4,239,962
13 $7,703,550 $2,810,644
$442,954
$4,449,952
14 $8,088,870 $2,953,212
$465,110
$4,670,548
15 $8,493,285 $3,102,846
$488,364
$4,902,075
16 $8,917,935 $3,259,966
$512,781
$5,145,188
17 $9,363,675 $3,424,890
$538,411
$5,400,374
18 $9,831,930 $3,598,144
$565,336
$5,668,450
19 $10,323,555 $3,780,046
$593,604
$5,949,905
20 $10,839,690 $3,971,016
$623,282
$6,245,392
21 $11,381,760 $4,171,582
$654,451
$6,555,727
22 $11,950,905 $4,382,165
$687,177
$6,881,563
23 $12,548,265 $4,603,188
$721,525
$7,223,552
24 $13,175,835 $4,835,389
$757,611
$7,582,835
25 $13,834,470 $5,079,084
$795,482
$7,959,904
26 $14,526,450 $5,335,117
$835,271
$8,356,062
27 $15,252,630 $5,603,803
$877,026
$8,771,801
28 $16,015,290 $5,885,988
$920,879
$9,208,423
29 $16,816,140 $6,182,302
$966,928
$9,666,910
30 $17,656,890 $6,493,380
$1,015,271
$10,148,239