Jackpot Analysis Montana Powerball

Jackpot Analysis for Montana Powerball
The jackpot for the Powerball draw on Wed Jul 17, 2024, is projected to be $75 Million, with an option for a cash payout of $36 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 Wed Jul 17, 2024
Draw DateWed Jul 17, 2024
Projected Jackpot$75,000,000
Cash Value$36,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$36,000,000
Federal Tax(24%)$8,640,000
Additional Federal Tax$4,640,330
State Tax(6.75%)$2,430,000
Net Lumpsum Payment$20,289,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,128,825 $377,996
$76,196
$674,633
2 $1,185,300 $398,891
$80,008
$706,401
3 $1,244,550 $420,814
$84,007
$739,729
4 $1,306,800 $443,846
$88,209
$774,745
5 $1,372,125 $468,017
$92,618
$811,490
6 $1,440,750 $493,408
$97,251
$850,091
7 $1,512,750 $520,048
$102,111
$890,591
8 $1,588,425 $548,048
$107,219
$933,158
9 $1,667,850 $577,435
$112,580
$977,835
10 $1,751,250 $608,293
$118,209
$1,024,748
11 $1,838,775 $640,677
$124,117
$1,073,981
12 $1,930,725 $674,699
$130,324
$1,125,702
13 $2,027,250 $710,413
$136,839
$1,179,998
14 $2,128,650 $747,931
$143,684
$1,237,035
15 $2,235,075 $787,308
$150,868
$1,296,899
16 $2,346,825 $828,656
$158,411
$1,359,758
17 $2,464,125 $872,057
$166,328
$1,425,740
18 $2,587,350 $917,650
$174,646
$1,495,054
19 $2,716,725 $965,519
$183,379
$1,567,827
20 $2,852,550 $1,015,774
$192,547
$1,644,229
21 $2,995,200 $1,068,554
$202,176
$1,724,470
22 $3,144,975 $1,123,971
$212,286
$1,808,718
23 $3,302,175 $1,182,135
$222,897
$1,897,143
24 $3,467,325 $1,243,241
$234,044
$1,990,040
25 $3,640,650 $1,307,371
$245,744
$2,087,535
26 $3,822,750 $1,374,748
$258,036
$2,189,966
27 $4,013,850 $1,445,455
$270,935
$2,297,460
28 $4,214,550 $1,519,714
$284,482
$2,410,354
29 $4,425,300 $1,597,691
$298,708
$2,528,901
30 $4,646,550 $1,679,554
$313,642
$2,653,354