The jackpot for the Powerball draw on Sat Jan 4, 2025, is projected to be $200 Million, with an option for a cash payout of $90.7 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 Sat Jan 4, 2025 |
|---|
| Draw Date | Sat Jan 4, 2025 | | Projected Jackpot | $200,000,000 | | Cash Value | $90,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $90,700,000 | | Federal Tax(24%) | $21,768,000 | | Additional Federal Tax | $11,751,330 | | State Tax(4.75%) | $4,308,250 | | Net Lumpsum Payment | $52,872,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,010,200 |
$1,074,104
$142,985 |
$1,793,111 |
| 2 |
$3,160,800 |
$1,129,826
$150,138 |
$1,880,836 |
| 3 |
$3,318,800 |
$1,188,286
$157,643 |
$1,972,871 |
| 4 |
$3,484,800 |
$1,249,706
$165,528 |
$2,069,566 |
| 5 |
$3,659,000 |
$1,314,160
$173,803 |
$2,171,037 |
| 6 |
$3,842,000 |
$1,381,870
$182,495 |
$2,277,635 |
| 7 |
$4,034,000 |
$1,452,910
$191,615 |
$2,389,475 |
| 8 |
$4,235,800 |
$1,527,576
$201,201 |
$2,507,023 |
| 9 |
$4,447,600 |
$1,605,942
$211,261 |
$2,630,397 |
| 10 |
$4,670,000 |
$1,688,230
$221,825 |
$2,759,945 |
| 11 |
$4,903,400 |
$1,774,588
$232,912 |
$2,895,900 |
| 12 |
$5,148,600 |
$1,865,312
$244,559 |
$3,038,729 |
| 13 |
$5,406,000 |
$1,960,550
$256,785 |
$3,188,665 |
| 14 |
$5,676,400 |
$2,060,598
$269,629 |
$3,346,173 |
| 15 |
$5,960,200 |
$2,165,604
$283,110 |
$3,511,486 |
| 16 |
$6,258,200 |
$2,275,864
$297,265 |
$3,685,071 |
| 17 |
$6,571,000 |
$2,391,600
$312,123 |
$3,867,277 |
| 18 |
$6,899,600 |
$2,513,182
$327,731 |
$4,058,687 |
| 19 |
$7,244,600 |
$2,640,832
$344,119 |
$4,259,649 |
| 20 |
$7,606,800 |
$2,774,846
$361,323 |
$4,470,631 |
| 21 |
$7,987,200 |
$2,915,594
$379,392 |
$4,692,214 |
| 22 |
$8,386,600 |
$3,063,372
$398,364 |
$4,924,864 |
| 23 |
$8,805,800 |
$3,218,476
$418,276 |
$5,169,048 |
| 24 |
$9,246,200 |
$3,381,424
$439,195 |
$5,425,581 |
| 25 |
$9,708,400 |
$3,552,438
$461,149 |
$5,694,813 |
| 26 |
$10,194,000 |
$3,732,110
$484,215 |
$5,977,675 |
| 27 |
$10,703,600 |
$3,920,662
$508,421 |
$6,274,517 |
| 28 |
$11,238,800 |
$4,118,686
$533,843 |
$6,586,271 |
| 29 |
$11,800,800 |
$4,326,626
$560,538 |
$6,913,636 |
| 30 |
$12,390,800 |
$4,544,926
$588,563 |
$7,257,311 |
|
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