The jackpot for the Powerball draw on Sat Sep 14, 2024, is projected to be $152 Million, with an option for a cash payout of $76.7 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC Powerball Jackpot/Cash Option for Sat Sep 14, 2024 |
|---|
| Draw Date | Sat Sep 14, 2024 | | Projected Jackpot | $152,000,000 | | Cash Value | $76,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $76,700,000 | | Federal Tax(24%) | $18,408,000 | | Additional Federal Tax | $9,931,330 | | State Tax(10.75%) | $8,245,250 | | Net Lumpsum Payment | $40,115,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,287,752 |
$806,799
$245,933 |
$1,235,020 |
| 2 |
$2,402,208 |
$849,147
$258,237 |
$1,294,824 |
| 3 |
$2,522,288 |
$893,577
$271,146 |
$1,357,565 |
| 4 |
$2,648,448 |
$940,256
$284,708 |
$1,423,484 |
| 5 |
$2,780,840 |
$989,241
$298,940 |
$1,492,659 |
| 6 |
$2,919,920 |
$1,040,701
$313,891 |
$1,565,328 |
| 7 |
$3,065,840 |
$1,094,691
$329,578 |
$1,641,571 |
| 8 |
$3,219,208 |
$1,151,437
$346,065 |
$1,721,706 |
| 9 |
$3,380,176 |
$1,210,996
$363,369 |
$1,805,811 |
| 10 |
$3,549,200 |
$1,273,534
$381,539 |
$1,894,127 |
| 11 |
$3,726,584 |
$1,339,166
$400,608 |
$1,986,810 |
| 12 |
$3,912,936 |
$1,408,117
$420,641 |
$2,084,178 |
| 13 |
$4,108,560 |
$1,480,498
$441,670 |
$2,186,392 |
| 14 |
$4,314,064 |
$1,556,534
$463,762 |
$2,293,768 |
| 15 |
$4,529,752 |
$1,636,339
$486,948 |
$2,406,465 |
| 16 |
$4,756,232 |
$1,720,136
$511,295 |
$2,524,801 |
| 17 |
$4,993,960 |
$1,808,096
$536,851 |
$2,649,013 |
| 18 |
$5,243,696 |
$1,900,498
$563,697 |
$2,779,501 |
| 19 |
$5,505,896 |
$1,997,512
$591,884 |
$2,916,500 |
| 20 |
$5,781,168 |
$2,099,363
$621,476 |
$3,060,329 |
| 21 |
$6,070,272 |
$2,206,331
$652,554 |
$3,211,387 |
| 22 |
$6,373,816 |
$2,318,642
$685,185 |
$3,369,989 |
| 23 |
$6,692,408 |
$2,436,521
$719,434 |
$3,536,453 |
| 24 |
$7,027,112 |
$2,560,362
$755,415 |
$3,711,335 |
| 25 |
$7,378,384 |
$2,690,332
$793,176 |
$3,894,876 |
| 26 |
$7,747,440 |
$2,826,883
$832,850 |
$4,087,707 |
| 27 |
$8,134,736 |
$2,970,183
$874,484 |
$4,290,069 |
| 28 |
$8,541,488 |
$3,120,681
$918,210 |
$4,502,597 |
| 29 |
$8,968,608 |
$3,278,715
$964,125 |
$4,725,768 |
| 30 |
$9,417,008 |
$3,444,623
$1,012,328 |
$4,960,057 |
|
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