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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia 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(5.75%) | $5,692,500 | | Net Lumpsum Payment | $56,717,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$185,203 |
$1,883,642 |
| 2 |
$3,382,056 |
$1,211,691
$194,468 |
$1,975,897 |
| 3 |
$3,551,116 |
$1,274,243
$204,189 |
$2,072,684 |
| 4 |
$3,728,736 |
$1,339,963
$214,402 |
$2,174,371 |
| 5 |
$3,915,130 |
$1,408,928
$225,120 |
$2,281,082 |
| 6 |
$4,110,940 |
$1,481,378
$236,379 |
$2,393,183 |
| 7 |
$4,316,380 |
$1,557,391
$248,192 |
$2,510,797 |
| 8 |
$4,532,306 |
$1,637,284
$260,608 |
$2,634,414 |
| 9 |
$4,758,932 |
$1,721,135
$273,639 |
$2,764,158 |
| 10 |
$4,996,900 |
$1,809,183
$287,322 |
$2,900,395 |
| 11 |
$5,246,638 |
$1,901,586
$301,682 |
$3,043,370 |
| 12 |
$5,509,002 |
$1,998,661
$316,768 |
$3,193,573 |
| 13 |
$5,784,420 |
$2,100,566
$332,604 |
$3,351,250 |
| 14 |
$6,073,748 |
$2,207,617
$349,241 |
$3,516,890 |
| 15 |
$6,377,414 |
$2,319,974
$366,701 |
$3,690,739 |
| 16 |
$6,696,274 |
$2,437,952
$385,036 |
$3,873,286 |
| 17 |
$7,030,970 |
$2,561,789
$404,281 |
$4,064,900 |
| 18 |
$7,382,572 |
$2,691,882
$424,498 |
$4,266,192 |
| 19 |
$7,751,722 |
$2,828,468
$445,724 |
$4,477,530 |
| 20 |
$8,139,276 |
$2,971,863
$468,008 |
$4,699,405 |
| 21 |
$8,546,304 |
$3,122,463
$491,412 |
$4,932,429 |
| 22 |
$8,973,662 |
$3,280,585
$515,986 |
$5,177,091 |
| 23 |
$9,422,206 |
$3,446,547
$541,777 |
$5,433,882 |
| 24 |
$9,893,434 |
$3,620,901
$568,872 |
$5,703,661 |
| 25 |
$10,387,988 |
$3,803,886
$597,309 |
$5,986,793 |
| 26 |
$10,907,580 |
$3,996,135
$627,186 |
$6,284,259 |
| 27 |
$11,452,852 |
$4,197,886
$658,539 |
$6,596,427 |
| 28 |
$12,025,516 |
$4,409,771
$691,467 |
$6,924,278 |
| 29 |
$12,626,856 |
$4,632,267
$726,044 |
$7,268,545 |
| 30 |
$13,258,156 |
$4,865,848
$762,344 |
$7,629,964 |
|
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