Idaho Lottery

IDLottery 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 Idaho, your state will take 5.8% 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.

Idaho 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(5.8%)	$6,826,600
Net Lumpsum Payment	$67,364,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$229,588	$2,303,882
2	$4,156,452	-$1,498,218 -$241,074	$2,417,160
3	$4,364,222	-$1,575,093 -$253,125	$2,536,004
4	$4,582,512	-$1,655,860 -$265,786	$2,660,866
5	$4,811,585	-$1,740,617 -$279,072	$2,791,896
6	$5,052,230	-$1,829,655 -$293,029	$2,929,546
7	$5,304,710	-$1,923,073 -$307,673	$3,073,964
8	$5,570,077	-$2,021,259 -$323,064	$3,225,754
9	$5,848,594	-$2,124,310 -$339,218	$3,385,066
10	$6,141,050	-$2,232,519 -$356,181	$3,552,350
11	$6,447,971	-$2,346,080 -$373,982	$3,727,909
12	$6,770,409	-$2,465,382 -$392,684	$3,912,343
13	$7,108,890	-$2,590,620 -$412,316	$4,105,954
14	$7,464,466	-$2,722,183 -$432,939	$4,309,344
15	$7,837,663	-$2,860,266 -$454,584	$4,522,813
16	$8,229,533	-$3,005,258 -$477,313	$4,746,962
17	$8,640,865	-$3,157,450 -$501,170	$4,982,245
18	$9,072,974	-$3,317,331 -$526,232	$5,229,411
19	$9,526,649	-$3,485,191 -$552,546	$5,488,912
20	$10,002,942	-$3,661,419 -$580,171	$5,761,352
21	$10,503,168	-$3,846,503 -$609,184	$6,047,481
22	$11,028,379	-$4,040,831 -$639,646	$6,347,902
23	$11,579,627	-$4,244,792 -$671,618	$6,663,217
24	$12,158,753	-$4,459,069 -$705,208	$6,994,476
25	$12,766,546	-$4,683,952 -$740,460	$7,342,134
26	$13,405,110	-$4,920,221 -$777,496	$7,707,393
27	$14,075,234	-$5,168,167 -$816,364	$8,090,703
28	$14,779,022	-$5,428,569 -$857,183	$8,493,270
29	$15,518,052	-$5,702,010 -$900,047	$8,915,995
30	$16,293,902	-$5,989,074 -$945,046	$9,359,782