The jackpot for the Powerball draw on Sat Dec 14, 2024, is projected to be $45 Million, with an option for a cash payout of $21.7 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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana Powerball Jackpot/Cash Option for Sat Dec 14, 2024 |
|---|
| Draw Date | Sat Dec 14, 2024 | | Projected Jackpot | $45,000,000 | | Cash Value | $21,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,700,000 | | Federal Tax(24%) | $5,208,000 | | Additional Federal Tax | $2,781,330 | | State Tax(4.75%) | $1,030,750 | | Net Lumpsum Payment | $12,679,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$677,295 |
$210,930
$32,172 |
$434,193 |
| 2 |
$711,180 |
$223,467
$33,781 |
$453,932 |
| 3 |
$746,730 |
$236,620
$35,470 |
$474,640 |
| 4 |
$784,080 |
$250,440
$37,244 |
$496,396 |
| 5 |
$823,275 |
$264,942
$39,106 |
$519,227 |
| 6 |
$864,450 |
$280,177
$41,061 |
$543,212 |
| 7 |
$907,650 |
$296,161
$43,113 |
$568,376 |
| 8 |
$953,055 |
$312,961
$45,270 |
$594,824 |
| 9 |
$1,000,710 |
$330,593
$47,534 |
$622,583 |
| 10 |
$1,050,750 |
$349,108
$49,911 |
$651,731 |
| 11 |
$1,103,265 |
$368,538
$52,405 |
$682,322 |
| 12 |
$1,158,435 |
$388,951
$55,026 |
$714,458 |
| 13 |
$1,216,350 |
$410,380
$57,777 |
$748,193 |
| 14 |
$1,277,190 |
$432,891
$60,667 |
$783,632 |
| 15 |
$1,341,045 |
$456,517
$63,700 |
$820,828 |
| 16 |
$1,408,095 |
$481,326
$66,885 |
$859,884 |
| 17 |
$1,478,475 |
$507,366
$70,228 |
$900,881 |
| 18 |
$1,552,410 |
$534,722
$73,739 |
$943,949 |
| 19 |
$1,630,035 |
$563,443
$77,427 |
$989,165 |
| 20 |
$1,711,530 |
$593,596
$81,298 |
$1,036,636 |
| 21 |
$1,797,120 |
$625,265
$85,363 |
$1,086,492 |
| 22 |
$1,886,985 |
$658,515
$89,632 |
$1,138,838 |
| 23 |
$1,981,305 |
$693,413
$94,112 |
$1,193,780 |
| 24 |
$2,080,395 |
$730,077
$98,819 |
$1,251,499 |
| 25 |
$2,184,390 |
$768,555
$103,759 |
$1,312,076 |
| 26 |
$2,293,650 |
$808,981
$108,948 |
$1,375,721 |
| 27 |
$2,408,310 |
$851,405
$114,395 |
$1,442,510 |
| 28 |
$2,528,730 |
$895,960
$120,115 |
$1,512,655 |
| 29 |
$2,655,180 |
$942,747
$126,121 |
$1,586,312 |
| 30 |
$2,787,930 |
$991,864
$132,427 |
$1,663,639 |
|
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