Montana Lottery

MTLottery 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 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 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(6.75%)	$7,944,750
Net Lumpsum Payment	$66,245,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$267,193	$2,266,277
2	$4,156,452	-$1,498,218 -$280,561	$2,377,673
3	$4,364,222	-$1,575,093 -$294,585	$2,494,544
4	$4,582,512	-$1,655,860 -$309,320	$2,617,332
5	$4,811,585	-$1,740,617 -$324,782	$2,746,186
6	$5,052,230	-$1,829,655 -$341,026	$2,881,549
7	$5,304,710	-$1,923,073 -$358,068	$3,023,569
8	$5,570,077	-$2,021,259 -$375,980	$3,172,838
9	$5,848,594	-$2,124,310 -$394,780	$3,329,504
10	$6,141,050	-$2,232,519 -$414,521	$3,494,010
11	$6,447,971	-$2,346,080 -$435,238	$3,666,653
12	$6,770,409	-$2,465,382 -$457,003	$3,848,024
13	$7,108,890	-$2,590,620 -$479,850	$4,038,420
14	$7,464,466	-$2,722,183 -$503,851	$4,238,432
15	$7,837,663	-$2,860,266 -$529,042	$4,448,355
16	$8,229,533	-$3,005,258 -$555,493	$4,668,782
17	$8,640,865	-$3,157,450 -$583,258	$4,900,157
18	$9,072,974	-$3,317,331 -$612,426	$5,143,217
19	$9,526,649	-$3,485,191 -$643,049	$5,398,409
20	$10,002,942	-$3,661,419 -$675,199	$5,666,324
21	$10,503,168	-$3,846,503 -$708,964	$5,947,701
22	$11,028,379	-$4,040,831 -$744,416	$6,243,132
23	$11,579,627	-$4,244,792 -$781,625	$6,553,210
24	$12,158,753	-$4,459,069 -$820,716	$6,878,968
25	$12,766,546	-$4,683,952 -$861,742	$7,220,852
26	$13,405,110	-$4,920,221 -$904,845	$7,580,044
27	$14,075,234	-$5,168,167 -$950,078	$7,956,989
28	$14,779,022	-$5,428,569 -$997,584	$8,352,869
29	$15,518,052	-$5,702,010 -$1,047,469	$8,768,573
30	$16,293,902	-$5,989,074 -$1,099,838	$9,204,990