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 North Dakota residents, the state will deduct 2.9% from your lottery earnings.
| North Dakota 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(2.9%) | $3,413,300 | | Net Lumpsum Payment | $70,777,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,958,413 |
$1,424,943
$114,794 |
$2,418,676 |
| 2 |
$4,156,452 |
$1,498,218
$120,537 |
$2,537,697 |
| 3 |
$4,364,222 |
$1,575,093
$126,562 |
$2,662,567 |
| 4 |
$4,582,512 |
$1,655,860
$132,893 |
$2,793,759 |
| 5 |
$4,811,585 |
$1,740,617
$139,536 |
$2,931,432 |
| 6 |
$5,052,230 |
$1,829,655
$146,515 |
$3,076,060 |
| 7 |
$5,304,710 |
$1,923,073
$153,837 |
$3,227,800 |
| 8 |
$5,570,077 |
$2,021,259
$161,532 |
$3,387,286 |
| 9 |
$5,848,594 |
$2,124,310
$169,609 |
$3,554,675 |
| 10 |
$6,141,050 |
$2,232,519
$178,090 |
$3,730,441 |
| 11 |
$6,447,971 |
$2,346,080
$186,991 |
$3,914,900 |
| 12 |
$6,770,409 |
$2,465,382
$196,342 |
$4,108,685 |
| 13 |
$7,108,890 |
$2,590,620
$206,158 |
$4,312,112 |
| 14 |
$7,464,466 |
$2,722,183
$216,470 |
$4,525,813 |
| 15 |
$7,837,663 |
$2,860,266
$227,292 |
$4,750,105 |
| 16 |
$8,229,533 |
$3,005,258
$238,656 |
$4,985,619 |
| 17 |
$8,640,865 |
$3,157,450
$250,585 |
$5,232,830 |
| 18 |
$9,072,974 |
$3,317,331
$263,116 |
$5,492,527 |
| 19 |
$9,526,649 |
$3,485,191
$276,273 |
$5,765,185 |
| 20 |
$10,002,942 |
$3,661,419
$290,085 |
$6,051,438 |
| 21 |
$10,503,168 |
$3,846,503
$304,592 |
$6,352,073 |
| 22 |
$11,028,379 |
$4,040,831
$319,823 |
$6,667,725 |
| 23 |
$11,579,627 |
$4,244,792
$335,809 |
$6,999,026 |
| 24 |
$12,158,753 |
$4,459,069
$352,604 |
$7,347,080 |
| 25 |
$12,766,546 |
$4,683,952
$370,230 |
$7,712,364 |
| 26 |
$13,405,110 |
$4,920,221
$388,748 |
$8,096,141 |
| 27 |
$14,075,234 |
$5,168,167
$408,182 |
$8,498,885 |
| 28 |
$14,779,022 |
$5,428,569
$428,592 |
$8,921,861 |
| 29 |
$15,518,052 |
$5,702,010
$450,024 |
$9,366,018 |
| 30 |
$16,293,902 |
$5,989,074
$472,523 |
$9,832,305 |
|
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