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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $6,682,500 | | Net Lumpsum Payment | $55,727,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$217,412 |
$1,851,433 |
| 2 |
$3,382,056 |
$1,211,691
$228,289 |
$1,942,076 |
| 3 |
$3,551,116 |
$1,274,243
$239,700 |
$2,037,173 |
| 4 |
$3,728,736 |
$1,339,963
$251,690 |
$2,137,083 |
| 5 |
$3,915,130 |
$1,408,928
$264,271 |
$2,241,931 |
| 6 |
$4,110,940 |
$1,481,378
$277,488 |
$2,352,074 |
| 7 |
$4,316,380 |
$1,557,391
$291,356 |
$2,467,633 |
| 8 |
$4,532,306 |
$1,637,284
$305,931 |
$2,589,091 |
| 9 |
$4,758,932 |
$1,721,135
$321,228 |
$2,716,569 |
| 10 |
$4,996,900 |
$1,809,183
$337,291 |
$2,850,426 |
| 11 |
$5,246,638 |
$1,901,586
$354,148 |
$2,990,904 |
| 12 |
$5,509,002 |
$1,998,661
$371,858 |
$3,138,483 |
| 13 |
$5,784,420 |
$2,100,566
$390,448 |
$3,293,406 |
| 14 |
$6,073,748 |
$2,207,617
$409,978 |
$3,456,153 |
| 15 |
$6,377,414 |
$2,319,974
$430,475 |
$3,626,965 |
| 16 |
$6,696,274 |
$2,437,952
$451,998 |
$3,806,324 |
| 17 |
$7,030,970 |
$2,561,789
$474,590 |
$3,994,591 |
| 18 |
$7,382,572 |
$2,691,882
$498,324 |
$4,192,366 |
| 19 |
$7,751,722 |
$2,828,468
$523,241 |
$4,400,013 |
| 20 |
$8,139,276 |
$2,971,863
$549,401 |
$4,618,012 |
| 21 |
$8,546,304 |
$3,122,463
$576,876 |
$4,846,965 |
| 22 |
$8,973,662 |
$3,280,585
$605,722 |
$5,087,355 |
| 23 |
$9,422,206 |
$3,446,547
$635,999 |
$5,339,660 |
| 24 |
$9,893,434 |
$3,620,901
$667,807 |
$5,604,726 |
| 25 |
$10,387,988 |
$3,803,886
$701,189 |
$5,882,913 |
| 26 |
$10,907,580 |
$3,996,135
$736,262 |
$6,175,183 |
| 27 |
$11,452,852 |
$4,197,886
$773,068 |
$6,481,898 |
| 28 |
$12,025,516 |
$4,409,771
$811,722 |
$6,804,023 |
| 29 |
$12,626,856 |
$4,632,267
$852,313 |
$7,142,276 |
| 30 |
$13,258,156 |
$4,865,848
$894,926 |
$7,497,382 |
|
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