The jackpot for the Powerball draw on Mon Sep 9, 2024, is projected to be $121 Million, with an option for a cash payout of $61 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 Missouri residents, the state will deduct 4% from your lottery earnings.
| Missouri Powerball Jackpot/Cash Option for Mon Sep 9, 2024 |
|---|
| Draw Date | Mon Sep 9, 2024 | | Projected Jackpot | $121,000,000 | | Cash Value | $61,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $61,000,000 | | Federal Tax(24%) | $14,640,000 | | Additional Federal Tax | $7,890,330 | | State Tax(4%) | $2,440,000 | | Net Lumpsum Payment | $36,029,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,821,171 |
$634,164
$72,847 |
$1,114,160 |
| 2 |
$1,912,284 |
$667,875
$76,491 |
$1,167,918 |
| 3 |
$2,007,874 |
$703,244
$80,315 |
$1,224,315 |
| 4 |
$2,108,304 |
$740,403
$84,332 |
$1,283,569 |
| 5 |
$2,213,695 |
$779,398
$88,548 |
$1,345,749 |
| 6 |
$2,324,410 |
$820,362
$92,976 |
$1,411,072 |
| 7 |
$2,440,570 |
$863,341
$97,623 |
$1,479,606 |
| 8 |
$2,562,659 |
$908,514
$102,506 |
$1,551,639 |
| 9 |
$2,690,798 |
$955,926
$107,632 |
$1,627,240 |
| 10 |
$2,825,350 |
$1,005,710
$113,014 |
$1,706,626 |
| 11 |
$2,966,557 |
$1,057,956
$118,662 |
$1,789,939 |
| 12 |
$3,114,903 |
$1,112,844
$124,596 |
$1,877,463 |
| 13 |
$3,270,630 |
$1,170,463
$130,825 |
$1,969,342 |
| 14 |
$3,434,222 |
$1,230,993
$137,369 |
$2,065,860 |
| 15 |
$3,605,921 |
$1,294,521
$144,237 |
$2,167,163 |
| 16 |
$3,786,211 |
$1,361,228
$151,448 |
$2,273,535 |
| 17 |
$3,975,455 |
$1,431,249
$159,018 |
$2,385,188 |
| 18 |
$4,174,258 |
$1,504,806
$166,970 |
$2,502,482 |
| 19 |
$4,382,983 |
$1,582,034
$175,319 |
$2,625,630 |
| 20 |
$4,602,114 |
$1,663,113
$184,085 |
$2,754,916 |
| 21 |
$4,832,256 |
$1,748,265
$193,290 |
$2,890,701 |
| 22 |
$5,073,893 |
$1,837,671
$202,956 |
$3,033,266 |
| 23 |
$5,327,509 |
$1,931,509
$213,100 |
$3,182,900 |
| 24 |
$5,593,951 |
$2,030,092
$223,758 |
$3,340,101 |
| 25 |
$5,873,582 |
$2,133,556
$234,943 |
$3,505,083 |
| 26 |
$6,167,370 |
$2,242,257
$246,695 |
$3,678,418 |
| 27 |
$6,475,678 |
$2,356,331
$259,027 |
$3,860,320 |
| 28 |
$6,799,474 |
$2,476,136
$271,979 |
$4,051,359 |
| 29 |
$7,139,484 |
$2,601,939
$285,579 |
$4,251,966 |
| 30 |
$7,496,434 |
$2,734,011
$299,857 |
$4,462,566 |
|
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