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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $7,944,750 | | Net Lumpsum Payment | $66,245,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,958,413 |
$1,424,943
$267,193 |
$2,266,277 |
| 2 |
$4,156,452 |
$1,498,218
$280,561 |
$2,377,673 |
| 3 |
$4,364,222 |
$1,575,093
$294,585 |
$2,494,544 |
| 4 |
$4,582,512 |
$1,655,860
$309,320 |
$2,617,332 |
| 5 |
$4,811,585 |
$1,740,617
$324,782 |
$2,746,186 |
| 6 |
$5,052,230 |
$1,829,655
$341,026 |
$2,881,549 |
| 7 |
$5,304,710 |
$1,923,073
$358,068 |
$3,023,569 |
| 8 |
$5,570,077 |
$2,021,259
$375,980 |
$3,172,838 |
| 9 |
$5,848,594 |
$2,124,310
$394,780 |
$3,329,504 |
| 10 |
$6,141,050 |
$2,232,519
$414,521 |
$3,494,010 |
| 11 |
$6,447,971 |
$2,346,080
$435,238 |
$3,666,653 |
| 12 |
$6,770,409 |
$2,465,382
$457,003 |
$3,848,024 |
| 13 |
$7,108,890 |
$2,590,620
$479,850 |
$4,038,420 |
| 14 |
$7,464,466 |
$2,722,183
$503,851 |
$4,238,432 |
| 15 |
$7,837,663 |
$2,860,266
$529,042 |
$4,448,355 |
| 16 |
$8,229,533 |
$3,005,258
$555,493 |
$4,668,782 |
| 17 |
$8,640,865 |
$3,157,450
$583,258 |
$4,900,157 |
| 18 |
$9,072,974 |
$3,317,331
$612,426 |
$5,143,217 |
| 19 |
$9,526,649 |
$3,485,191
$643,049 |
$5,398,409 |
| 20 |
$10,002,942 |
$3,661,419
$675,199 |
$5,666,324 |
| 21 |
$10,503,168 |
$3,846,503
$708,964 |
$5,947,701 |
| 22 |
$11,028,379 |
$4,040,831
$744,416 |
$6,243,132 |
| 23 |
$11,579,627 |
$4,244,792
$781,625 |
$6,553,210 |
| 24 |
$12,158,753 |
$4,459,069
$820,716 |
$6,878,968 |
| 25 |
$12,766,546 |
$4,683,952
$861,742 |
$7,220,852 |
| 26 |
$13,405,110 |
$4,920,221
$904,845 |
$7,580,044 |
| 27 |
$14,075,234 |
$5,168,167
$950,078 |
$7,956,989 |
| 28 |
$14,779,022 |
$5,428,569
$997,584 |
$8,352,869 |
| 29 |
$15,518,052 |
$5,702,010
$1,047,469 |
$8,768,573 |
| 30 |
$16,293,902 |
$5,989,074
$1,099,838 |
$9,204,990 |
|
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