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 Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho 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(5.8%) | $5,742,000 | | Net Lumpsum Payment | $56,667,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$186,813 |
$1,882,032 |
| 2 |
$3,382,056 |
$1,211,691
$196,159 |
$1,974,206 |
| 3 |
$3,551,116 |
$1,274,243
$205,965 |
$2,070,908 |
| 4 |
$3,728,736 |
$1,339,963
$216,267 |
$2,172,506 |
| 5 |
$3,915,130 |
$1,408,928
$227,078 |
$2,279,124 |
| 6 |
$4,110,940 |
$1,481,378
$238,435 |
$2,391,127 |
| 7 |
$4,316,380 |
$1,557,391
$250,350 |
$2,508,639 |
| 8 |
$4,532,306 |
$1,637,284
$262,874 |
$2,632,148 |
| 9 |
$4,758,932 |
$1,721,135
$276,018 |
$2,761,779 |
| 10 |
$4,996,900 |
$1,809,183
$289,820 |
$2,897,897 |
| 11 |
$5,246,638 |
$1,901,586
$304,305 |
$3,040,747 |
| 12 |
$5,509,002 |
$1,998,661
$319,522 |
$3,190,819 |
| 13 |
$5,784,420 |
$2,100,566
$335,496 |
$3,348,358 |
| 14 |
$6,073,748 |
$2,207,617
$352,277 |
$3,513,854 |
| 15 |
$6,377,414 |
$2,319,974
$369,890 |
$3,687,550 |
| 16 |
$6,696,274 |
$2,437,952
$388,384 |
$3,869,938 |
| 17 |
$7,030,970 |
$2,561,789
$407,796 |
$4,061,385 |
| 18 |
$7,382,572 |
$2,691,882
$428,189 |
$4,262,501 |
| 19 |
$7,751,722 |
$2,828,468
$449,600 |
$4,473,654 |
| 20 |
$8,139,276 |
$2,971,863
$472,078 |
$4,695,335 |
| 21 |
$8,546,304 |
$3,122,463
$495,686 |
$4,928,155 |
| 22 |
$8,973,662 |
$3,280,585
$520,472 |
$5,172,605 |
| 23 |
$9,422,206 |
$3,446,547
$546,488 |
$5,429,171 |
| 24 |
$9,893,434 |
$3,620,901
$573,819 |
$5,698,714 |
| 25 |
$10,387,988 |
$3,803,886
$602,503 |
$5,981,599 |
| 26 |
$10,907,580 |
$3,996,135
$632,640 |
$6,278,805 |
| 27 |
$11,452,852 |
$4,197,886
$664,265 |
$6,590,701 |
| 28 |
$12,025,516 |
$4,409,771
$697,480 |
$6,918,265 |
| 29 |
$12,626,856 |
$4,632,267
$732,358 |
$7,262,231 |
| 30 |
$13,258,156 |
$4,865,848
$768,973 |
$7,623,335 |
|
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