Jackpot Analysis North Dakota Powerball

Jackpot Analysis for North Dakota Powerball
The jackpot for the Powerball draw on Wed May 29, 2024, is projected to be $143 Million, with an option for a cash payout of $66.8 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 North Dakota residents, the state will deduct 2.9% from your lottery earnings.

North Dakota Powerball Jackpot/Cash Option for Wed May 29, 2024
Draw DateWed May 29, 2024
Projected Jackpot$143,000,000
Cash Value$66,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$66,800,000
Federal Tax(24%)$16,032,000
Additional Federal Tax$8,644,330
State Tax(2.9%)$1,937,200
Net Lumpsum Payment$40,186,470
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,152,293 $756,679
$62,416
$1,333,198
2 $2,259,972 $796,520
$65,539
$1,397,913
3 $2,372,942 $838,319
$68,815
$1,465,808
4 $2,491,632 $882,234
$72,257
$1,537,141
5 $2,616,185 $928,319
$75,869
$1,611,997
6 $2,747,030 $976,731
$79,664
$1,690,635
7 $2,884,310 $1,027,525
$83,645
$1,773,140
8 $3,028,597 $1,080,911
$87,829
$1,859,857
9 $3,180,034 $1,136,943
$92,221
$1,950,870
10 $3,339,050 $1,195,779
$96,832
$2,046,439
11 $3,505,931 $1,257,525
$101,672
$2,146,734
12 $3,681,249 $1,322,393
$106,756
$2,252,100
13 $3,865,290 $1,390,488
$112,093
$2,362,709
14 $4,058,626 $1,462,022
$117,700
$2,478,904
15 $4,261,543 $1,537,101
$123,585
$2,600,857
16 $4,474,613 $1,615,937
$129,764
$2,728,912
17 $4,698,265 $1,698,688
$136,250
$2,863,327
18 $4,933,214 $1,785,620
$143,063
$3,004,531
19 $5,179,889 $1,876,889
$150,217
$3,152,783
20 $5,438,862 $1,972,709
$157,727
$3,308,426
21 $5,710,848 $2,073,344
$165,615
$3,471,889
22 $5,996,419 $2,179,005
$173,896
$3,643,518
23 $6,296,147 $2,289,905
$182,588
$3,823,654
24 $6,611,033 $2,406,413
$191,720
$4,012,900
25 $6,941,506 $2,528,688
$201,304
$4,211,514
26 $7,288,710 $2,657,153
$211,373
$4,420,184
27 $7,653,074 $2,791,968
$221,939
$4,639,167
28 $8,035,742 $2,933,555
$233,037
$4,869,150
29 $8,437,572 $3,082,232
$244,690
$5,110,650
30 $8,859,422 $3,238,317
$256,923
$5,364,182