Jackpot Analysis Oklahoma Powerball

Jackpot Analysis for Oklahoma Powerball
The jackpot for the Powerball draw on Wed Oct 30, 2024, is projected to be $39 Million, with an option for a cash payout of $18.6 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.

Oklahoma Powerball Jackpot/Cash Option for Wed Oct 30, 2024
Draw DateWed Oct 30, 2024
Projected Jackpot$39,000,000
Cash Value$18,600,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$18,600,000
Federal Tax(24%)$4,464,000
Additional Federal Tax$2,378,330
State Tax(4.75%)$883,500
Net Lumpsum Payment$10,874,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $586,989 $177,516
$27,882
$381,591
2 $616,356 $188,382
$29,277
$398,697
3 $647,166 $199,782
$30,740
$416,644
4 $679,536 $211,759
$32,278
$435,499
5 $713,505 $224,327
$33,891
$455,287
6 $749,190 $237,531
$35,587
$476,072
7 $786,630 $251,383
$37,365
$497,882
8 $825,981 $265,943
$39,234
$520,804
9 $867,282 $281,225
$41,196
$544,861
10 $910,650 $297,271
$43,256
$570,123
11 $956,163 $314,111
$45,418
$596,634
12 $1,003,977 $331,802
$47,689
$624,486
13 $1,054,170 $350,373
$50,073
$653,724
14 $1,106,898 $369,883
$52,578
$684,437
15 $1,162,239 $390,359
$55,206
$716,674
16 $1,220,349 $411,860
$57,967
$750,522
17 $1,281,345 $434,428
$60,864
$786,053
18 $1,345,422 $458,137
$63,908
$823,377
19 $1,412,697 $483,028
$67,103
$862,566
20 $1,483,326 $509,161
$70,458
$903,707
21 $1,557,504 $536,607
$73,981
$946,916
22 $1,635,387 $565,424
$77,681
$992,282
23 $1,717,131 $595,669
$81,564
$1,039,898
24 $1,803,009 $627,444
$85,643
$1,089,922
25 $1,893,138 $660,791
$89,924
$1,142,423
26 $1,987,830 $695,827
$94,422
$1,197,581
27 $2,087,202 $732,595
$99,142
$1,255,465
28 $2,191,566 $771,210
$104,099
$1,316,257
29 $2,301,156 $811,758
$109,305
$1,380,093
30 $2,416,206 $854,327
$114,770
$1,447,109