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 Oregon residents, the state will deduct 8% from your lottery earnings.
| Oregon 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(8%) | $7,256,000 | | Net Lumpsum Payment | $49,924,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,010,200 |
$1,074,104
$240,816 |
$1,695,280 |
| 2 |
$3,160,800 |
$1,129,826
$252,864 |
$1,778,110 |
| 3 |
$3,318,800 |
$1,188,286
$265,504 |
$1,865,010 |
| 4 |
$3,484,800 |
$1,249,706
$278,784 |
$1,956,310 |
| 5 |
$3,659,000 |
$1,314,160
$292,720 |
$2,052,120 |
| 6 |
$3,842,000 |
$1,381,870
$307,360 |
$2,152,770 |
| 7 |
$4,034,000 |
$1,452,910
$322,720 |
$2,258,370 |
| 8 |
$4,235,800 |
$1,527,576
$338,864 |
$2,369,360 |
| 9 |
$4,447,600 |
$1,605,942
$355,808 |
$2,485,850 |
| 10 |
$4,670,000 |
$1,688,230
$373,600 |
$2,608,170 |
| 11 |
$4,903,400 |
$1,774,588
$392,272 |
$2,736,540 |
| 12 |
$5,148,600 |
$1,865,312
$411,888 |
$2,871,400 |
| 13 |
$5,406,000 |
$1,960,550
$432,480 |
$3,012,970 |
| 14 |
$5,676,400 |
$2,060,598
$454,112 |
$3,161,690 |
| 15 |
$5,960,200 |
$2,165,604
$476,816 |
$3,317,780 |
| 16 |
$6,258,200 |
$2,275,864
$500,656 |
$3,481,680 |
| 17 |
$6,571,000 |
$2,391,600
$525,680 |
$3,653,720 |
| 18 |
$6,899,600 |
$2,513,182
$551,968 |
$3,834,450 |
| 19 |
$7,244,600 |
$2,640,832
$579,568 |
$4,024,200 |
| 20 |
$7,606,800 |
$2,774,846
$608,544 |
$4,223,410 |
| 21 |
$7,987,200 |
$2,915,594
$638,976 |
$4,432,630 |
| 22 |
$8,386,600 |
$3,063,372
$670,928 |
$4,652,300 |
| 23 |
$8,805,800 |
$3,218,476
$704,464 |
$4,882,860 |
| 24 |
$9,246,200 |
$3,381,424
$739,696 |
$5,125,080 |
| 25 |
$9,708,400 |
$3,552,438
$776,672 |
$5,379,290 |
| 26 |
$10,194,000 |
$3,732,110
$815,520 |
$5,646,370 |
| 27 |
$10,703,600 |
$3,920,662
$856,288 |
$5,926,650 |
| 28 |
$11,238,800 |
$4,118,686
$899,104 |
$6,221,010 |
| 29 |
$11,800,800 |
$4,326,626
$944,064 |
$6,530,110 |
| 30 |
$12,390,800 |
$4,544,926
$991,264 |
$6,854,610 |
|
|
