The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont Powerball Jackpot/Cash Option for Sat Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(6%) | $5,940,000 | | Net Lumpsum Payment | $56,469,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$193,255 |
$1,875,590 |
| 2 |
$3,382,056 |
$1,211,691
$202,923 |
$1,967,442 |
| 3 |
$3,551,116 |
$1,274,243
$213,067 |
$2,063,806 |
| 4 |
$3,728,736 |
$1,339,963
$223,724 |
$2,165,049 |
| 5 |
$3,915,130 |
$1,408,928
$234,908 |
$2,271,294 |
| 6 |
$4,110,940 |
$1,481,378
$246,656 |
$2,382,906 |
| 7 |
$4,316,380 |
$1,557,391
$258,983 |
$2,500,006 |
| 8 |
$4,532,306 |
$1,637,284
$271,938 |
$2,623,084 |
| 9 |
$4,758,932 |
$1,721,135
$285,536 |
$2,752,261 |
| 10 |
$4,996,900 |
$1,809,183
$299,814 |
$2,887,903 |
| 11 |
$5,246,638 |
$1,901,586
$314,798 |
$3,030,254 |
| 12 |
$5,509,002 |
$1,998,661
$330,540 |
$3,179,801 |
| 13 |
$5,784,420 |
$2,100,566
$347,065 |
$3,336,789 |
| 14 |
$6,073,748 |
$2,207,617
$364,425 |
$3,501,706 |
| 15 |
$6,377,414 |
$2,319,974
$382,645 |
$3,674,795 |
| 16 |
$6,696,274 |
$2,437,952
$401,776 |
$3,856,546 |
| 17 |
$7,030,970 |
$2,561,789
$421,858 |
$4,047,323 |
| 18 |
$7,382,572 |
$2,691,882
$442,954 |
$4,247,736 |
| 19 |
$7,751,722 |
$2,828,468
$465,103 |
$4,458,151 |
| 20 |
$8,139,276 |
$2,971,863
$488,357 |
$4,679,056 |
| 21 |
$8,546,304 |
$3,122,463
$512,778 |
$4,911,063 |
| 22 |
$8,973,662 |
$3,280,585
$538,420 |
$5,154,657 |
| 23 |
$9,422,206 |
$3,446,547
$565,332 |
$5,410,327 |
| 24 |
$9,893,434 |
$3,620,901
$593,606 |
$5,678,927 |
| 25 |
$10,387,988 |
$3,803,886
$623,279 |
$5,960,823 |
| 26 |
$10,907,580 |
$3,996,135
$654,455 |
$6,256,990 |
| 27 |
$11,452,852 |
$4,197,886
$687,171 |
$6,567,795 |
| 28 |
$12,025,516 |
$4,409,771
$721,531 |
$6,894,214 |
| 29 |
$12,626,856 |
$4,632,267
$757,611 |
$7,236,978 |
| 30 |
$13,258,156 |
$4,865,848
$795,489 |
$7,596,819 |
|
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