Kansas Lottery

KSLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 21, 2024 is estimated to be $195 Million, with a cash option of 99.1 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 Kansas, your state will take 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.

Kansas Powerball Jackpot/Cash Option for Sat Sep 21, 2024

Draw Date	Jackpot	Cash Option
Sat Sep 21, 2024	$195,000,000	$99,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,100,000
Federal Tax(24%)	$23,784,000
Additional Federal Tax	$12,843,330
State Tax(5%)	$4,955,000
Net Lumpsum Payment	$57,517,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$146,747	$1,741,938
2	$3,081,780	-$1,100,589 -$154,089	$1,827,102
3	$3,235,830	-$1,157,587 -$161,792	$1,916,451
4	$3,397,680	-$1,217,472 -$169,884	$2,010,324
5	$3,567,525	-$1,280,315 -$178,376	$2,108,834
6	$3,745,950	-$1,346,332 -$187,298	$2,212,320
7	$3,933,150	-$1,415,596 -$196,658	$2,320,896
8	$4,129,905	-$1,488,395 -$206,495	$2,435,015
9	$4,336,410	-$1,564,802 -$216,821	$2,554,787
10	$4,553,250	-$1,645,033 -$227,663	$2,680,554
11	$4,780,815	-$1,729,232 -$239,041	$2,812,542
12	$5,019,885	-$1,817,688 -$250,994	$2,951,203
13	$5,270,850	-$1,910,545 -$263,543	$3,096,762
14	$5,534,490	-$2,008,092 -$276,725	$3,249,673
15	$5,811,195	-$2,110,473 -$290,560	$3,410,162
16	$6,101,745	-$2,217,976 -$305,087	$3,578,682
17	$6,406,725	-$2,330,819 -$320,336	$3,755,570
18	$6,727,110	-$2,449,361 -$336,356	$3,941,393
19	$7,063,485	-$2,573,820 -$353,174	$4,136,491
20	$7,416,630	-$2,704,483 -$370,832	$4,341,315
21	$7,787,520	-$2,841,713 -$389,376	$4,556,431
22	$8,176,935	-$2,985,796 -$408,847	$4,782,292
23	$8,585,655	-$3,137,023 -$429,283	$5,019,349
24	$9,015,045	-$3,295,897 -$450,752	$5,268,396
25	$9,465,690	-$3,462,636 -$473,285	$5,529,769
26	$9,939,150	-$3,637,816 -$496,958	$5,804,376
27	$10,436,010	-$3,821,654 -$521,801	$6,092,555
28	$10,957,830	-$4,014,727 -$547,892	$6,395,211
29	$11,505,780	-$4,217,469 -$575,289	$6,713,022
30	$12,081,030	-$4,430,311 -$604,052	$7,046,667