The jackpot for the Powerball draw on Sat May 11, 2024, is projected to be $36 Million, with an option for a cash payout of $16.8 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 Sat May 11, 2024 |
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Draw Date | Sat May 11, 2024 | Projected Jackpot | $36,000,000 | Cash Value | $16,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $16,800,000 | Federal Tax(24%) | $4,032,000 | Additional Federal Tax | $2,144,330 | State Tax(2.9%) | $487,200 | Net Lumpsum Payment | $10,136,470 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$541,836 |
$160,810 $15,713 |
$365,313 |
2 |
$568,944 |
$170,840 $16,499 |
$381,605 |
3 |
$597,384 |
$181,362 $17,324 |
$398,698 |
4 |
$627,264 |
$192,418 $18,191 |
$416,655 |
5 |
$658,620 |
$204,020 $19,100 |
$435,500 |
6 |
$691,560 |
$216,208 $20,055 |
$455,297 |
7 |
$726,120 |
$228,995 $21,057 |
$476,068 |
8 |
$762,444 |
$242,435 $22,111 |
$497,898 |
9 |
$800,568 |
$256,541 $23,216 |
$520,811 |
10 |
$840,600 |
$271,352 $24,377 |
$544,871 |
11 |
$882,612 |
$286,897 $25,596 |
$570,119 |
12 |
$926,748 |
$303,227 $26,876 |
$596,645 |
13 |
$973,080 |
$320,370 $28,219 |
$624,491 |
14 |
$1,021,752 |
$338,379 $29,631 |
$653,742 |
15 |
$1,072,836 |
$357,280 $31,112 |
$684,444 |
16 |
$1,126,476 |
$377,127 $32,668 |
$716,681 |
17 |
$1,182,780 |
$397,959 $34,301 |
$750,520 |
18 |
$1,241,928 |
$419,844 $36,016 |
$786,068 |
19 |
$1,304,028 |
$442,821 $37,817 |
$823,390 |
20 |
$1,369,224 |
$466,943 $39,707 |
$862,574 |
21 |
$1,437,696 |
$492,278 $41,693 |
$903,725 |
22 |
$1,509,588 |
$518,878 $43,778 |
$946,932 |
23 |
$1,585,044 |
$546,797 $45,966 |
$992,281 |
24 |
$1,664,316 |
$576,127 $48,265 |
$1,039,924 |
25 |
$1,747,512 |
$606,910 $50,678 |
$1,089,924 |
26 |
$1,834,920 |
$639,251 $53,213 |
$1,142,456 |
27 |
$1,926,648 |
$673,190 $55,873 |
$1,197,585 |
28 |
$2,022,984 |
$708,834 $58,667 |
$1,255,483 |
29 |
$2,124,144 |
$746,264 $61,600 |
$1,316,280 |
30 |
$2,230,344 |
$785,558 $64,680 |
$1,380,106 |
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