Georgia Lottery

GALottery 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 Georgia, your state will take 5.75% 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.

Georgia 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(5.75%)	$6,767,750
Net Lumpsum Payment	$67,422,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$227,609	$2,305,861
2	$4,156,452	-$1,498,218 -$238,996	$2,419,238
3	$4,364,222	-$1,575,093 -$250,943	$2,538,186
4	$4,582,512	-$1,655,860 -$263,494	$2,663,158
5	$4,811,585	-$1,740,617 -$276,666	$2,794,302
6	$5,052,230	-$1,829,655 -$290,503	$2,932,072
7	$5,304,710	-$1,923,073 -$305,021	$3,076,616
8	$5,570,077	-$2,021,259 -$320,279	$3,228,539
9	$5,848,594	-$2,124,310 -$336,294	$3,387,990
10	$6,141,050	-$2,232,519 -$353,110	$3,555,421
11	$6,447,971	-$2,346,080 -$370,758	$3,731,133
12	$6,770,409	-$2,465,382 -$389,299	$3,915,728
13	$7,108,890	-$2,590,620 -$408,761	$4,109,509
14	$7,464,466	-$2,722,183 -$429,207	$4,313,076
15	$7,837,663	-$2,860,266 -$450,666	$4,526,731
16	$8,229,533	-$3,005,258 -$473,198	$4,751,077
17	$8,640,865	-$3,157,450 -$496,850	$4,986,565
18	$9,072,974	-$3,317,331 -$521,696	$5,233,947
19	$9,526,649	-$3,485,191 -$547,782	$5,493,676
20	$10,002,942	-$3,661,419 -$575,169	$5,766,354
21	$10,503,168	-$3,846,503 -$603,932	$6,052,733
22	$11,028,379	-$4,040,831 -$634,132	$6,353,416
23	$11,579,627	-$4,244,792 -$665,829	$6,669,006
24	$12,158,753	-$4,459,069 -$699,128	$7,000,556
25	$12,766,546	-$4,683,952 -$734,076	$7,348,518
26	$13,405,110	-$4,920,221 -$770,794	$7,714,095
27	$14,075,234	-$5,168,167 -$809,326	$8,097,741
28	$14,779,022	-$5,428,569 -$849,794	$8,500,659
29	$15,518,052	-$5,702,010 -$892,288	$8,923,754
30	$16,293,902	-$5,989,074 -$936,899	$9,367,929