The jackpot for the Powerball draw on Sat Jul 27, 2024, is projected to be $131 Million, with an option for a cash payout of $62.8 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 Jul 27, 2024 |
|---|
| Draw Date | Sat Jul 27, 2024 | | Projected Jackpot | $131,000,000 | | Cash Value | $62,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,800,000 | | Federal Tax(24%) | $15,072,000 | | Additional Federal Tax | $8,124,330 | | State Tax(2.9%) | $1,821,200 | | Net Lumpsum Payment | $37,782,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$57,179 |
$1,224,650 |
| 2 |
$2,070,324 |
$726,350
$60,039 |
$1,283,935 |
| 3 |
$2,173,814 |
$764,642
$63,041 |
$1,346,131 |
| 4 |
$2,282,544 |
$804,872
$66,194 |
$1,411,478 |
| 5 |
$2,396,645 |
$847,089
$69,503 |
$1,480,053 |
| 6 |
$2,516,510 |
$891,439
$72,979 |
$1,552,092 |
| 7 |
$2,642,270 |
$937,970
$76,626 |
$1,627,674 |
| 8 |
$2,774,449 |
$986,877
$80,459 |
$1,707,113 |
| 9 |
$2,913,178 |
$1,038,206
$84,482 |
$1,790,490 |
| 10 |
$3,058,850 |
$1,092,105
$88,707 |
$1,878,038 |
| 11 |
$3,211,727 |
$1,148,669
$93,140 |
$1,969,918 |
| 12 |
$3,372,333 |
$1,208,094
$97,798 |
$2,066,441 |
| 13 |
$3,540,930 |
$1,270,474
$102,687 |
$2,167,769 |
| 14 |
$3,718,042 |
$1,336,006
$107,823 |
$2,274,213 |
| 15 |
$3,903,931 |
$1,404,785
$113,214 |
$2,385,932 |
| 16 |
$4,099,121 |
$1,477,005
$118,875 |
$2,503,241 |
| 17 |
$4,304,005 |
$1,552,812
$124,816 |
$2,626,377 |
| 18 |
$4,519,238 |
$1,632,448
$131,058 |
$2,755,732 |
| 19 |
$4,745,213 |
$1,716,059
$137,611 |
$2,891,543 |
| 20 |
$4,982,454 |
$1,803,838
$144,491 |
$3,034,125 |
| 21 |
$5,231,616 |
$1,896,028
$151,717 |
$3,183,871 |
| 22 |
$5,493,223 |
$1,992,823
$159,303 |
$3,341,097 |
| 23 |
$5,767,799 |
$2,094,416
$167,266 |
$3,506,117 |
| 24 |
$6,056,261 |
$2,201,147
$175,632 |
$3,679,482 |
| 25 |
$6,359,002 |
$2,313,161
$184,411 |
$3,861,430 |
| 26 |
$6,677,070 |
$2,430,846
$193,635 |
$4,052,589 |
| 27 |
$7,010,858 |
$2,554,348
$203,315 |
$4,253,195 |
| 28 |
$7,361,414 |
$2,684,054
$213,481 |
$4,463,879 |
| 29 |
$7,729,524 |
$2,820,254
$224,156 |
$4,685,114 |
| 30 |
$8,115,974 |
$2,963,241
$235,363 |
$4,917,370 |
|
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