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 Oregon residents, the state will deduct 8% from your lottery earnings.
| Oregon 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(8%) | $9,416,000 | | Net Lumpsum Payment | $64,774,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,958,413 |
$1,424,943
$316,673 |
$2,216,797 |
| 2 |
$4,156,452 |
$1,498,218
$332,516 |
$2,325,718 |
| 3 |
$4,364,222 |
$1,575,093
$349,138 |
$2,439,991 |
| 4 |
$4,582,512 |
$1,655,860
$366,601 |
$2,560,051 |
| 5 |
$4,811,585 |
$1,740,617
$384,927 |
$2,686,041 |
| 6 |
$5,052,230 |
$1,829,655
$404,178 |
$2,818,397 |
| 7 |
$5,304,710 |
$1,923,073
$424,377 |
$2,957,260 |
| 8 |
$5,570,077 |
$2,021,259
$445,606 |
$3,103,212 |
| 9 |
$5,848,594 |
$2,124,310
$467,888 |
$3,256,396 |
| 10 |
$6,141,050 |
$2,232,519
$491,284 |
$3,417,247 |
| 11 |
$6,447,971 |
$2,346,080
$515,838 |
$3,586,053 |
| 12 |
$6,770,409 |
$2,465,382
$541,633 |
$3,763,394 |
| 13 |
$7,108,890 |
$2,590,620
$568,711 |
$3,949,559 |
| 14 |
$7,464,466 |
$2,722,183
$597,157 |
$4,145,126 |
| 15 |
$7,837,663 |
$2,860,266
$627,013 |
$4,350,384 |
| 16 |
$8,229,533 |
$3,005,258
$658,363 |
$4,565,912 |
| 17 |
$8,640,865 |
$3,157,450
$691,269 |
$4,792,146 |
| 18 |
$9,072,974 |
$3,317,331
$725,838 |
$5,029,805 |
| 19 |
$9,526,649 |
$3,485,191
$762,132 |
$5,279,326 |
| 20 |
$10,002,942 |
$3,661,419
$800,235 |
$5,541,288 |
| 21 |
$10,503,168 |
$3,846,503
$840,253 |
$5,816,412 |
| 22 |
$11,028,379 |
$4,040,831
$882,270 |
$6,105,278 |
| 23 |
$11,579,627 |
$4,244,792
$926,370 |
$6,408,465 |
| 24 |
$12,158,753 |
$4,459,069
$972,700 |
$6,726,984 |
| 25 |
$12,766,546 |
$4,683,952
$1,021,324 |
$7,061,270 |
| 26 |
$13,405,110 |
$4,920,221
$1,072,409 |
$7,412,480 |
| 27 |
$14,075,234 |
$5,168,167
$1,126,019 |
$7,781,048 |
| 28 |
$14,779,022 |
$5,428,569
$1,182,322 |
$8,168,131 |
| 29 |
$15,518,052 |
$5,702,010
$1,241,444 |
$8,574,598 |
| 30 |
$16,293,902 |
$5,989,074
$1,303,512 |
$9,001,316 |
|
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