Nebraska Lottery

NELottery 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 Nebraska, 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.

Nebraska 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%)	$5,885,000
Net Lumpsum Payment	$68,305,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,958,413	-$1,424,943 -$197,921	$2,335,549
2	$4,156,452	-$1,498,218 -$207,823	$2,450,411
3	$4,364,222	-$1,575,093 -$218,211	$2,570,918
4	$4,582,512	-$1,655,860 -$229,126	$2,697,526
5	$4,811,585	-$1,740,617 -$240,579	$2,830,389
6	$5,052,230	-$1,829,655 -$252,612	$2,969,963
7	$5,304,710	-$1,923,073 -$265,236	$3,116,401
8	$5,570,077	-$2,021,259 -$278,504	$3,270,314
9	$5,848,594	-$2,124,310 -$292,430	$3,431,854
10	$6,141,050	-$2,232,519 -$307,053	$3,601,478
11	$6,447,971	-$2,346,080 -$322,399	$3,779,492
12	$6,770,409	-$2,465,382 -$338,520	$3,966,507
13	$7,108,890	-$2,590,620 -$355,445	$4,162,825
14	$7,464,466	-$2,722,183 -$373,223	$4,369,060
15	$7,837,663	-$2,860,266 -$391,883	$4,585,514
16	$8,229,533	-$3,005,258 -$411,477	$4,812,798
17	$8,640,865	-$3,157,450 -$432,043	$5,051,372
18	$9,072,974	-$3,317,331 -$453,649	$5,301,994
19	$9,526,649	-$3,485,191 -$476,332	$5,565,126
20	$10,002,942	-$3,661,419 -$500,147	$5,841,376
21	$10,503,168	-$3,846,503 -$525,158	$6,131,507
22	$11,028,379	-$4,040,831 -$551,419	$6,436,129
23	$11,579,627	-$4,244,792 -$578,981	$6,755,854
24	$12,158,753	-$4,459,069 -$607,938	$7,091,746
25	$12,766,546	-$4,683,952 -$638,327	$7,444,267
26	$13,405,110	-$4,920,221 -$670,256	$7,814,633
27	$14,075,234	-$5,168,167 -$703,762	$8,203,305
28	$14,779,022	-$5,428,569 -$738,951	$8,611,502
29	$15,518,052	-$5,702,010 -$775,903	$9,040,139
30	$16,293,902	-$5,989,074 -$814,695	$9,490,133