The jackpot for the Powerball draw on Wed Feb 5, 2025, is projected to be $113 Million, with an option for a cash payout of $51.2 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 Feb 5, 2025 |
|---|
| Draw Date | Wed Feb 5, 2025 | | Projected Jackpot | $113,000,000 | | Cash Value | $51,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $51,200,000 | | Federal Tax(24%) | $12,288,000 | | Additional Federal Tax | $6,616,330 | | State Tax(2.9%) | $1,484,800 | | Net Lumpsum Payment | $30,810,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,700,763 |
$589,613
$49,322 |
$1,061,828 |
| 2 |
$1,785,852 |
$621,096
$51,790 |
$1,112,966 |
| 3 |
$1,875,122 |
$654,126
$54,379 |
$1,166,617 |
| 4 |
$1,968,912 |
$688,828
$57,098 |
$1,222,986 |
| 5 |
$2,067,335 |
$725,244
$59,953 |
$1,282,138 |
| 6 |
$2,170,730 |
$763,500
$62,951 |
$1,344,279 |
| 7 |
$2,279,210 |
$803,638
$66,097 |
$1,409,475 |
| 8 |
$2,393,227 |
$845,824
$69,404 |
$1,477,999 |
| 9 |
$2,512,894 |
$890,101
$72,874 |
$1,549,919 |
| 10 |
$2,638,550 |
$936,594
$76,518 |
$1,625,438 |
| 11 |
$2,770,421 |
$985,386
$80,342 |
$1,704,693 |
| 12 |
$2,908,959 |
$1,036,645
$84,360 |
$1,787,954 |
| 13 |
$3,054,390 |
$1,090,455
$88,577 |
$1,875,358 |
| 14 |
$3,207,166 |
$1,146,982
$93,008 |
$1,967,176 |
| 15 |
$3,367,513 |
$1,206,310
$97,658 |
$2,063,545 |
| 16 |
$3,535,883 |
$1,268,607
$102,541 |
$2,164,735 |
| 17 |
$3,712,615 |
$1,333,998
$107,666 |
$2,270,951 |
| 18 |
$3,898,274 |
$1,402,692
$113,050 |
$2,382,532 |
| 19 |
$4,093,199 |
$1,474,814
$118,703 |
$2,499,682 |
| 20 |
$4,297,842 |
$1,550,532
$124,637 |
$2,622,673 |
| 21 |
$4,512,768 |
$1,630,055
$130,870 |
$2,751,843 |
| 22 |
$4,738,429 |
$1,713,549
$137,414 |
$2,887,466 |
| 23 |
$4,975,277 |
$1,801,183
$144,283 |
$3,029,811 |
| 24 |
$5,224,103 |
$1,893,248
$151,499 |
$3,179,356 |
| 25 |
$5,485,246 |
$1,989,871
$159,072 |
$3,336,303 |
| 26 |
$5,759,610 |
$2,091,386
$167,029 |
$3,501,195 |
| 27 |
$6,047,534 |
$2,197,918
$175,378 |
$3,674,238 |
| 28 |
$6,349,922 |
$2,309,802
$184,148 |
$3,855,972 |
| 29 |
$6,667,452 |
$2,427,288
$193,356 |
$4,046,808 |
| 30 |
$7,000,802 |
$2,550,627
$203,023 |
$4,247,152 |
|
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