The jackpot for the Powerball draw on Sat Nov 16, 2024, is projected to be $130 Million, with an option for a cash payout of $61.4 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 Nov 16, 2024 |
|---|
| Draw Date | Sat Nov 16, 2024 | | Projected Jackpot | $130,000,000 | | Cash Value | $61,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $61,400,000 | | Federal Tax(24%) | $14,736,000 | | Additional Federal Tax | $7,942,330 | | State Tax(2.9%) | $1,780,600 | | Net Lumpsum Payment | $36,941,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,956,630 |
$684,283
$56,742 |
$1,215,605 |
| 2 |
$2,054,520 |
$720,503
$59,581 |
$1,274,436 |
| 3 |
$2,157,220 |
$758,502
$62,559 |
$1,336,159 |
| 4 |
$2,265,120 |
$798,425
$65,688 |
$1,401,007 |
| 5 |
$2,378,350 |
$840,320
$68,972 |
$1,469,058 |
| 6 |
$2,497,300 |
$884,331
$72,422 |
$1,540,547 |
| 7 |
$2,622,100 |
$930,507
$76,041 |
$1,615,552 |
| 8 |
$2,753,270 |
$979,040
$79,845 |
$1,694,385 |
| 9 |
$2,890,940 |
$1,029,978
$83,837 |
$1,777,125 |
| 10 |
$3,035,500 |
$1,083,465
$88,030 |
$1,864,005 |
| 11 |
$3,187,210 |
$1,139,598
$92,429 |
$1,955,183 |
| 12 |
$3,346,590 |
$1,198,569
$97,051 |
$2,050,970 |
| 13 |
$3,513,900 |
$1,260,473
$101,903 |
$2,151,524 |
| 14 |
$3,689,660 |
$1,325,505
$107,000 |
$2,257,155 |
| 15 |
$3,874,130 |
$1,393,758
$112,350 |
$2,368,022 |
| 16 |
$4,067,830 |
$1,465,427
$117,967 |
$2,484,436 |
| 17 |
$4,271,150 |
$1,540,656
$123,863 |
$2,606,631 |
| 18 |
$4,484,740 |
$1,619,684
$130,057 |
$2,734,999 |
| 19 |
$4,708,990 |
$1,702,657
$136,561 |
$2,869,772 |
| 20 |
$4,944,420 |
$1,789,766
$143,388 |
$3,011,266 |
| 21 |
$5,191,680 |
$1,881,252
$150,559 |
$3,159,869 |
| 22 |
$5,451,290 |
$1,977,308
$158,087 |
$3,315,895 |
| 23 |
$5,723,770 |
$2,078,125
$165,989 |
$3,479,656 |
| 24 |
$6,010,030 |
$2,184,041
$174,291 |
$3,651,698 |
| 25 |
$6,310,460 |
$2,295,201
$183,003 |
$3,832,256 |
| 26 |
$6,626,100 |
$2,411,987
$192,157 |
$4,021,956 |
| 27 |
$6,957,340 |
$2,534,546
$201,763 |
$4,221,031 |
| 28 |
$7,305,220 |
$2,663,262
$211,851 |
$4,430,107 |
| 29 |
$7,670,520 |
$2,798,423
$222,445 |
$4,649,652 |
| 30 |
$8,054,020 |
$2,940,318
$233,567 |
$4,880,135 |
|
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