Arizona Lottery

AZLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 11, 2025 is estimated to be $263 Million, with a cash option of 117.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Arizona, your state will take 2.5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Arizona Powerball Jackpot/Cash Option for Sat Jan 11, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 11, 2025	$263,000,000	$117,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,700,000
Federal Tax(24%)	$28,248,000
Additional Federal Tax	$15,261,330
State Tax(2.5%)	$2,942,500
Net Lumpsum Payment	$71,248,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$98,960	$2,434,510
2	$4,156,452	-$1,498,218 -$103,911	$2,554,323
3	$4,364,222	-$1,575,093 -$109,106	$2,680,023
4	$4,582,512	-$1,655,860 -$114,563	$2,812,089
5	$4,811,585	-$1,740,617 -$120,290	$2,950,678
6	$5,052,230	-$1,829,655 -$126,306	$3,096,269
7	$5,304,710	-$1,923,073 -$132,618	$3,249,019
8	$5,570,077	-$2,021,259 -$139,252	$3,409,566
9	$5,848,594	-$2,124,310 -$146,215	$3,578,069
10	$6,141,050	-$2,232,519 -$153,526	$3,755,005
11	$6,447,971	-$2,346,080 -$161,199	$3,940,692
12	$6,770,409	-$2,465,382 -$169,260	$4,135,767
13	$7,108,890	-$2,590,620 -$177,722	$4,340,548
14	$7,464,466	-$2,722,183 -$186,612	$4,555,671
15	$7,837,663	-$2,860,266 -$195,942	$4,781,455
16	$8,229,533	-$3,005,258 -$205,738	$5,018,537
17	$8,640,865	-$3,157,450 -$216,022	$5,267,393
18	$9,072,974	-$3,317,331 -$226,824	$5,528,819
19	$9,526,649	-$3,485,191 -$238,166	$5,803,292
20	$10,002,942	-$3,661,419 -$250,074	$6,091,449
21	$10,503,168	-$3,846,503 -$262,579	$6,394,086
22	$11,028,379	-$4,040,831 -$275,709	$6,711,839
23	$11,579,627	-$4,244,792 -$289,491	$7,045,344
24	$12,158,753	-$4,459,069 -$303,969	$7,395,715
25	$12,766,546	-$4,683,952 -$319,164	$7,763,430
26	$13,405,110	-$4,920,221 -$335,128	$8,149,761
27	$14,075,234	-$5,168,167 -$351,881	$8,555,186
28	$14,779,022	-$5,428,569 -$369,476	$8,980,977
29	$15,518,052	-$5,702,010 -$387,951	$9,428,091
30	$16,293,902	-$5,989,074 -$407,348	$9,897,480