Montana Lottery

MTLottery 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 Montana, your state will take 6.75% 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.

Montana 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(6.75%)	$6,689,250
Net Lumpsum Payment	$55,783,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$198,109	$1,690,576
2	$3,081,780	-$1,100,589 -$208,020	$1,773,171
3	$3,235,830	-$1,157,587 -$218,419	$1,859,824
4	$3,397,680	-$1,217,472 -$229,343	$1,950,865
5	$3,567,525	-$1,280,315 -$240,808	$2,046,402
6	$3,745,950	-$1,346,332 -$252,852	$2,146,766
7	$3,933,150	-$1,415,596 -$265,488	$2,252,066
8	$4,129,905	-$1,488,395 -$278,769	$2,362,741
9	$4,336,410	-$1,564,802 -$292,708	$2,478,900
10	$4,553,250	-$1,645,033 -$307,344	$2,600,873
11	$4,780,815	-$1,729,232 -$322,705	$2,728,878
12	$5,019,885	-$1,817,688 -$338,842	$2,863,355
13	$5,270,850	-$1,910,545 -$355,782	$3,004,523
14	$5,534,490	-$2,008,092 -$373,578	$3,152,820
15	$5,811,195	-$2,110,473 -$392,256	$3,308,466
16	$6,101,745	-$2,217,976 -$411,868	$3,471,901
17	$6,406,725	-$2,330,819 -$432,454	$3,643,452
18	$6,727,110	-$2,449,361 -$454,080	$3,823,669
19	$7,063,485	-$2,573,820 -$476,785	$4,012,880
20	$7,416,630	-$2,704,483 -$500,623	$4,211,524
21	$7,787,520	-$2,841,713 -$525,658	$4,420,149
22	$8,176,935	-$2,985,796 -$551,943	$4,639,196
23	$8,585,655	-$3,137,023 -$579,532	$4,869,100
24	$9,015,045	-$3,295,897 -$608,516	$5,110,632
25	$9,465,690	-$3,462,636 -$638,934	$5,364,120
26	$9,939,150	-$3,637,816 -$670,893	$5,630,441
27	$10,436,010	-$3,821,654 -$704,431	$5,909,925
28	$10,957,830	-$4,014,727 -$739,654	$6,203,449
29	$11,505,780	-$4,217,469 -$776,640	$6,511,671
30	$12,081,030	-$4,430,311 -$815,470	$6,835,249