The jackpot for the Powerball draw on Mon Jan 13, 2025, is projected to be $285 Million, with an option for a cash payout of $124.9 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 Mon Jan 13, 2025 |
|---|
| Draw Date | Mon Jan 13, 2025 | | Projected Jackpot | $285,000,000 | | Cash Value | $124,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,900,000 | | Federal Tax(24%) | $29,976,000 | | Additional Federal Tax | $16,197,330 | | State Tax(2.9%) | $3,622,100 | | Net Lumpsum Payment | $75,104,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,289,535 |
$1,547,458
$124,397 |
$2,617,680 |
| 2 |
$4,504,140 |
$1,626,862
$130,620 |
$2,746,658 |
| 3 |
$4,729,290 |
$1,710,168
$137,149 |
$2,881,973 |
| 4 |
$4,965,840 |
$1,797,691
$144,009 |
$3,024,140 |
| 5 |
$5,214,075 |
$1,889,538
$151,208 |
$3,173,329 |
| 6 |
$5,474,850 |
$1,986,025
$158,771 |
$3,330,054 |
| 7 |
$5,748,450 |
$2,087,257
$166,705 |
$3,494,488 |
| 8 |
$6,036,015 |
$2,193,656
$175,044 |
$3,667,315 |
| 9 |
$6,337,830 |
$2,305,327
$183,797 |
$3,848,706 |
| 10 |
$6,654,750 |
$2,422,588
$192,988 |
$4,039,174 |
| 11 |
$6,987,345 |
$2,545,648
$202,633 |
$4,239,064 |
| 12 |
$7,336,755 |
$2,674,930
$212,766 |
$4,449,059 |
| 13 |
$7,703,550 |
$2,810,644
$223,403 |
$4,669,503 |
| 14 |
$8,088,870 |
$2,953,212
$234,577 |
$4,901,081 |
| 15 |
$8,493,285 |
$3,102,846
$246,305 |
$5,144,134 |
| 16 |
$8,917,935 |
$3,259,966
$258,620 |
$5,399,349 |
| 17 |
$9,363,675 |
$3,424,890
$271,547 |
$5,667,238 |
| 18 |
$9,831,930 |
$3,598,144
$285,126 |
$5,948,660 |
| 19 |
$10,323,555 |
$3,780,046
$299,383 |
$6,244,126 |
| 20 |
$10,839,690 |
$3,971,016
$314,351 |
$6,554,323 |
| 21 |
$11,381,760 |
$4,171,582
$330,071 |
$6,880,107 |
| 22 |
$11,950,905 |
$4,382,165
$346,576 |
$7,222,164 |
| 23 |
$12,548,265 |
$4,603,188
$363,900 |
$7,581,177 |
| 24 |
$13,175,835 |
$4,835,389
$382,099 |
$7,958,347 |
| 25 |
$13,834,470 |
$5,079,084
$401,200 |
$8,354,186 |
| 26 |
$14,526,450 |
$5,335,117
$421,267 |
$8,770,066 |
| 27 |
$15,252,630 |
$5,603,803
$442,326 |
$9,206,501 |
| 28 |
$16,015,290 |
$5,885,988
$464,443 |
$9,664,859 |
| 29 |
$16,816,140 |
$6,182,302
$487,668 |
$10,146,170 |
| 30 |
$17,656,890 |
$6,493,380
$512,050 |
$10,651,460 |
|
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