The jackpot for the Powerball draw on Sat Jan 4, 2025, is projected to be $200 Million, with an option for a cash payout of $90.7 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 Jan 4, 2025 |
|---|
| Draw Date | Sat Jan 4, 2025 | | Projected Jackpot | $200,000,000 | | Cash Value | $90,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $90,700,000 | | Federal Tax(24%) | $21,768,000 | | Additional Federal Tax | $11,751,330 | | State Tax(6.75%) | $6,122,250 | | Net Lumpsum Payment | $51,058,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,010,200 |
$1,074,104
$203,189 |
$1,732,907 |
| 2 |
$3,160,800 |
$1,129,826
$213,354 |
$1,817,620 |
| 3 |
$3,318,800 |
$1,188,286
$224,019 |
$1,906,495 |
| 4 |
$3,484,800 |
$1,249,706
$235,224 |
$1,999,870 |
| 5 |
$3,659,000 |
$1,314,160
$246,983 |
$2,097,857 |
| 6 |
$3,842,000 |
$1,381,870
$259,335 |
$2,200,795 |
| 7 |
$4,034,000 |
$1,452,910
$272,295 |
$2,308,795 |
| 8 |
$4,235,800 |
$1,527,576
$285,917 |
$2,422,307 |
| 9 |
$4,447,600 |
$1,605,942
$300,213 |
$2,541,445 |
| 10 |
$4,670,000 |
$1,688,230
$315,225 |
$2,666,545 |
| 11 |
$4,903,400 |
$1,774,588
$330,980 |
$2,797,832 |
| 12 |
$5,148,600 |
$1,865,312
$347,531 |
$2,935,757 |
| 13 |
$5,406,000 |
$1,960,550
$364,905 |
$3,080,545 |
| 14 |
$5,676,400 |
$2,060,598
$383,157 |
$3,232,645 |
| 15 |
$5,960,200 |
$2,165,604
$402,314 |
$3,392,282 |
| 16 |
$6,258,200 |
$2,275,864
$422,429 |
$3,559,907 |
| 17 |
$6,571,000 |
$2,391,600
$443,543 |
$3,735,857 |
| 18 |
$6,899,600 |
$2,513,182
$465,723 |
$3,920,695 |
| 19 |
$7,244,600 |
$2,640,832
$489,011 |
$4,114,757 |
| 20 |
$7,606,800 |
$2,774,846
$513,459 |
$4,318,495 |
| 21 |
$7,987,200 |
$2,915,594
$539,136 |
$4,532,470 |
| 22 |
$8,386,600 |
$3,063,372
$566,096 |
$4,757,132 |
| 23 |
$8,805,800 |
$3,218,476
$594,392 |
$4,992,932 |
| 24 |
$9,246,200 |
$3,381,424
$624,119 |
$5,240,657 |
| 25 |
$9,708,400 |
$3,552,438
$655,317 |
$5,500,645 |
| 26 |
$10,194,000 |
$3,732,110
$688,095 |
$5,773,795 |
| 27 |
$10,703,600 |
$3,920,662
$722,493 |
$6,060,445 |
| 28 |
$11,238,800 |
$4,118,686
$758,619 |
$6,361,495 |
| 29 |
$11,800,800 |
$4,326,626
$796,554 |
$6,677,620 |
| 30 |
$12,390,800 |
$4,544,926
$836,379 |
$7,009,495 |
|
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