The jackpot for the Powerball draw on Sat Jan 11, 2025, is projected to be $263 Million, with an option for a cash payout of $117.7 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 Arkansas residents, the state will deduct 4.9% from your lottery earnings.
| Arkansas Powerball Jackpot/Cash Option for Sat Jan 11, 2025 |
|---|
| Draw Date | Sat Jan 11, 2025 | | Projected Jackpot | $263,000,000 | | Cash Value | $117,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $117,700,000 | | Federal Tax(24%) | $28,248,000 | | Additional Federal Tax | $15,261,330 | | State Tax(4.9%) | $5,767,300 | | Net Lumpsum Payment | $68,423,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,958,413 |
$1,424,943
$193,962 |
$2,339,508 |
| 2 |
$4,156,452 |
$1,498,218
$203,666 |
$2,454,568 |
| 3 |
$4,364,222 |
$1,575,093
$213,847 |
$2,575,282 |
| 4 |
$4,582,512 |
$1,655,860
$224,543 |
$2,702,109 |
| 5 |
$4,811,585 |
$1,740,617
$235,768 |
$2,835,200 |
| 6 |
$5,052,230 |
$1,829,655
$247,559 |
$2,975,016 |
| 7 |
$5,304,710 |
$1,923,073
$259,931 |
$3,121,706 |
| 8 |
$5,570,077 |
$2,021,259
$272,934 |
$3,275,884 |
| 9 |
$5,848,594 |
$2,124,310
$286,581 |
$3,437,703 |
| 10 |
$6,141,050 |
$2,232,519
$300,911 |
$3,607,620 |
| 11 |
$6,447,971 |
$2,346,080
$315,951 |
$3,785,940 |
| 12 |
$6,770,409 |
$2,465,382
$331,750 |
$3,973,277 |
| 13 |
$7,108,890 |
$2,590,620
$348,336 |
$4,169,934 |
| 14 |
$7,464,466 |
$2,722,183
$365,759 |
$4,376,524 |
| 15 |
$7,837,663 |
$2,860,266
$384,045 |
$4,593,352 |
| 16 |
$8,229,533 |
$3,005,258
$403,247 |
$4,821,028 |
| 17 |
$8,640,865 |
$3,157,450
$423,402 |
$5,060,013 |
| 18 |
$9,072,974 |
$3,317,331
$444,576 |
$5,311,067 |
| 19 |
$9,526,649 |
$3,485,191
$466,806 |
$5,574,652 |
| 20 |
$10,002,942 |
$3,661,419
$490,144 |
$5,851,379 |
| 21 |
$10,503,168 |
$3,846,503
$514,655 |
$6,142,010 |
| 22 |
$11,028,379 |
$4,040,831
$540,391 |
$6,447,157 |
| 23 |
$11,579,627 |
$4,244,792
$567,402 |
$6,767,433 |
| 24 |
$12,158,753 |
$4,459,069
$595,779 |
$7,103,905 |
| 25 |
$12,766,546 |
$4,683,952
$625,561 |
$7,457,033 |
| 26 |
$13,405,110 |
$4,920,221
$656,850 |
$7,828,039 |
| 27 |
$14,075,234 |
$5,168,167
$689,686 |
$8,217,381 |
| 28 |
$14,779,022 |
$5,428,569
$724,172 |
$8,626,281 |
| 29 |
$15,518,052 |
$5,702,010
$760,385 |
$9,055,657 |
| 30 |
$16,293,902 |
$5,989,074
$798,401 |
$9,506,427 |
|
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