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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont 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%) | $7,062,000 | | Net Lumpsum Payment | $67,128,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,958,413 |
$1,424,943
$237,505 |
$2,295,965 |
| 2 |
$4,156,452 |
$1,498,218
$249,387 |
$2,408,847 |
| 3 |
$4,364,222 |
$1,575,093
$261,853 |
$2,527,276 |
| 4 |
$4,582,512 |
$1,655,860
$274,951 |
$2,651,701 |
| 5 |
$4,811,585 |
$1,740,617
$288,695 |
$2,782,273 |
| 6 |
$5,052,230 |
$1,829,655
$303,134 |
$2,919,441 |
| 7 |
$5,304,710 |
$1,923,073
$318,283 |
$3,063,354 |
| 8 |
$5,570,077 |
$2,021,259
$334,205 |
$3,214,613 |
| 9 |
$5,848,594 |
$2,124,310
$350,916 |
$3,373,368 |
| 10 |
$6,141,050 |
$2,232,519
$368,463 |
$3,540,068 |
| 11 |
$6,447,971 |
$2,346,080
$386,878 |
$3,715,013 |
| 12 |
$6,770,409 |
$2,465,382
$406,225 |
$3,898,802 |
| 13 |
$7,108,890 |
$2,590,620
$426,533 |
$4,091,737 |
| 14 |
$7,464,466 |
$2,722,183
$447,868 |
$4,294,415 |
| 15 |
$7,837,663 |
$2,860,266
$470,260 |
$4,507,137 |
| 16 |
$8,229,533 |
$3,005,258
$493,772 |
$4,730,503 |
| 17 |
$8,640,865 |
$3,157,450
$518,452 |
$4,964,963 |
| 18 |
$9,072,974 |
$3,317,331
$544,378 |
$5,211,265 |
| 19 |
$9,526,649 |
$3,485,191
$571,599 |
$5,469,859 |
| 20 |
$10,002,942 |
$3,661,419
$600,177 |
$5,741,346 |
| 21 |
$10,503,168 |
$3,846,503
$630,190 |
$6,026,475 |
| 22 |
$11,028,379 |
$4,040,831
$661,703 |
$6,325,845 |
| 23 |
$11,579,627 |
$4,244,792
$694,778 |
$6,640,057 |
| 24 |
$12,158,753 |
$4,459,069
$729,525 |
$6,970,159 |
| 25 |
$12,766,546 |
$4,683,952
$765,993 |
$7,316,601 |
| 26 |
$13,405,110 |
$4,920,221
$804,307 |
$7,680,582 |
| 27 |
$14,075,234 |
$5,168,167
$844,514 |
$8,062,553 |
| 28 |
$14,779,022 |
$5,428,569
$886,741 |
$8,463,712 |
| 29 |
$15,518,052 |
$5,702,010
$931,083 |
$8,884,959 |
| 30 |
$16,293,902 |
$5,989,074
$977,634 |
$9,327,194 |
|
|
