Missouri Lottery

MOLottery 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 Missouri, your state will take 4% 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.

Missouri 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(4%)	$3,964,000
Net Lumpsum Payment	$58,508,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$117,398	$1,771,287
2	$3,081,780	-$1,100,589 -$123,271	$1,857,920
3	$3,235,830	-$1,157,587 -$129,433	$1,948,810
4	$3,397,680	-$1,217,472 -$135,907	$2,044,301
5	$3,567,525	-$1,280,315 -$142,701	$2,144,509
6	$3,745,950	-$1,346,332 -$149,838	$2,249,780
7	$3,933,150	-$1,415,596 -$157,326	$2,360,228
8	$4,129,905	-$1,488,395 -$165,196	$2,476,314
9	$4,336,410	-$1,564,802 -$173,456	$2,598,152
10	$4,553,250	-$1,645,033 -$182,130	$2,726,087
11	$4,780,815	-$1,729,232 -$191,233	$2,860,350
12	$5,019,885	-$1,817,688 -$200,795	$3,001,402
13	$5,270,850	-$1,910,545 -$210,834	$3,149,471
14	$5,534,490	-$2,008,092 -$221,380	$3,305,018
15	$5,811,195	-$2,110,473 -$232,448	$3,468,274
16	$6,101,745	-$2,217,976 -$244,070	$3,639,699
17	$6,406,725	-$2,330,819 -$256,269	$3,819,637
18	$6,727,110	-$2,449,361 -$269,084	$4,008,665
19	$7,063,485	-$2,573,820 -$282,539	$4,207,126
20	$7,416,630	-$2,704,483 -$296,665	$4,415,482
21	$7,787,520	-$2,841,713 -$311,501	$4,634,306
22	$8,176,935	-$2,985,796 -$327,077	$4,864,062
23	$8,585,655	-$3,137,023 -$343,426	$5,105,206
24	$9,015,045	-$3,295,897 -$360,602	$5,358,546
25	$9,465,690	-$3,462,636 -$378,628	$5,624,426
26	$9,939,150	-$3,637,816 -$397,566	$5,903,768
27	$10,436,010	-$3,821,654 -$417,440	$6,196,916
28	$10,957,830	-$4,014,727 -$438,313	$6,504,790
29	$11,505,780	-$4,217,469 -$460,231	$6,828,080
30	$12,081,030	-$4,430,311 -$483,241	$7,167,478