The jackpot for the Powerball draw on Wed Sep 18, 2024, is projected to be $176 Million, with an option for a cash payout of $89.4 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 Oregon residents, the state will deduct 8% from your lottery earnings.
| Oregon Powerball Jackpot/Cash Option for Wed Sep 18, 2024 |
|---|
| Draw Date | Wed Sep 18, 2024 | | Projected Jackpot | $176,000,000 | | Cash Value | $89,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,400,000 | | Federal Tax(24%) | $21,456,000 | | Additional Federal Tax | $11,582,330 | | State Tax(8%) | $7,152,000 | | Net Lumpsum Payment | $49,209,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,648,976 |
$940,452
$211,918 |
$1,496,606 |
| 2 |
$2,781,504 |
$989,487
$222,520 |
$1,569,497 |
| 3 |
$2,920,544 |
$1,040,932
$233,644 |
$1,645,968 |
| 4 |
$3,066,624 |
$1,094,981
$245,330 |
$1,726,313 |
| 5 |
$3,219,920 |
$1,151,701
$257,594 |
$1,810,625 |
| 6 |
$3,380,960 |
$1,211,286
$270,477 |
$1,899,197 |
| 7 |
$3,549,920 |
$1,273,801
$283,994 |
$1,992,125 |
| 8 |
$3,727,504 |
$1,339,507
$298,200 |
$2,089,797 |
| 9 |
$3,913,888 |
$1,408,469
$313,111 |
$2,192,308 |
| 10 |
$4,109,600 |
$1,480,882
$328,768 |
$2,299,950 |
| 11 |
$4,314,992 |
$1,556,877
$345,199 |
$2,412,916 |
| 12 |
$4,530,768 |
$1,636,715
$362,461 |
$2,531,592 |
| 13 |
$4,757,280 |
$1,720,524
$380,582 |
$2,656,174 |
| 14 |
$4,995,232 |
$1,808,566
$399,619 |
$2,787,047 |
| 15 |
$5,244,976 |
$1,900,972
$419,598 |
$2,924,406 |
| 16 |
$5,507,216 |
$1,998,000
$440,577 |
$3,068,639 |
| 17 |
$5,782,480 |
$2,099,848
$462,598 |
$3,220,034 |
| 18 |
$6,071,648 |
$2,206,840
$485,732 |
$3,379,076 |
| 19 |
$6,375,248 |
$2,319,172
$510,020 |
$3,546,056 |
| 20 |
$6,693,984 |
$2,437,104
$535,519 |
$3,721,361 |
| 21 |
$7,028,736 |
$2,560,963
$562,299 |
$3,905,474 |
| 22 |
$7,380,208 |
$2,691,007
$590,417 |
$4,098,784 |
| 23 |
$7,749,104 |
$2,827,499
$619,928 |
$4,301,677 |
| 24 |
$8,136,656 |
$2,970,893
$650,932 |
$4,514,831 |
| 25 |
$8,543,392 |
$3,121,385
$683,471 |
$4,738,536 |
| 26 |
$8,970,720 |
$3,279,497
$717,658 |
$4,973,565 |
| 27 |
$9,419,168 |
$3,445,423
$753,533 |
$5,220,212 |
| 28 |
$9,890,144 |
$3,619,684
$791,212 |
$5,479,248 |
| 29 |
$10,384,704 |
$3,802,671
$830,776 |
$5,751,257 |
| 30 |
$10,903,904 |
$3,994,775
$872,312 |
$6,036,817 |
|
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