Jackpot Analysis Pennsylvania Powerball

Jackpot Analysis for Pennsylvania Powerball
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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.

Pennsylvania Powerball Jackpot/Cash Option for Sat Nov 16, 2024
Draw DateSat 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(3.07%)$1,884,980
Net Lumpsum Payment$36,836,690
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,956,630 $684,283
$60,069
$1,212,278
2 $2,054,520 $720,503
$63,074
$1,270,943
3 $2,157,220 $758,502
$66,227
$1,332,491
4 $2,265,120 $798,425
$69,539
$1,397,156
5 $2,378,350 $840,320
$73,015
$1,465,015
6 $2,497,300 $884,331
$76,667
$1,536,302
7 $2,622,100 $930,507
$80,498
$1,611,095
8 $2,753,270 $979,040
$84,525
$1,689,705
9 $2,890,940 $1,029,978
$88,752
$1,772,210
10 $3,035,500 $1,083,465
$93,190
$1,858,845
11 $3,187,210 $1,139,598
$97,847
$1,949,765
12 $3,346,590 $1,198,569
$102,740
$2,045,281
13 $3,513,900 $1,260,473
$107,877
$2,145,550
14 $3,689,660 $1,325,505
$113,273
$2,250,882
15 $3,874,130 $1,393,758
$118,936
$2,361,436
16 $4,067,830 $1,465,427
$124,882
$2,477,521
17 $4,271,150 $1,540,656
$131,124
$2,599,370
18 $4,484,740 $1,619,684
$137,682
$2,727,374
19 $4,708,990 $1,702,657
$144,566
$2,861,767
20 $4,944,420 $1,789,766
$151,794
$3,002,860
21 $5,191,680 $1,881,252
$159,385
$3,151,043
22 $5,451,290 $1,977,308
$167,355
$3,306,627
23 $5,723,770 $2,078,125
$175,720
$3,469,925
24 $6,010,030 $2,184,041
$184,508
$3,641,481
25 $6,310,460 $2,295,201
$193,731
$3,821,528
26 $6,626,100 $2,411,987
$203,421
$4,010,692
27 $6,957,340 $2,534,546
$213,590
$4,209,204
28 $7,305,220 $2,663,262
$224,270
$4,417,688
29 $7,670,520 $2,798,423
$235,485
$4,636,612
30 $8,054,020 $2,940,318
$247,258
$4,866,444