Washington Lottery

WALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Nov 9, 2024 is estimated to be $92 Million, with a cash option of 43.4 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. The good news is that if you're a resident of Washington, you won't owe any state tax on 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.

Washington Powerball Jackpot/Cash Option for Sat Nov 9, 2024

Draw Date	Jackpot	Cash Option
Sat Nov 9, 2024	$92,000,000	$43,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$43,400,000
Federal Tax(24%)	$10,416,000
Additional Federal Tax	$5,602,330
State Tax(0%)	$0
Net Lumpsum Payment	$27,381,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,384,692	-$472,666 -$0	$912,026
2	$1,453,968	-$498,299 -$0	$955,669
3	$1,526,648	-$525,190 -$0	$1,001,458
4	$1,603,008	-$553,443 -$0	$1,049,565
5	$1,683,140	-$583,092 -$0	$1,100,048
6	$1,767,320	-$614,239 -$0	$1,153,081
7	$1,855,640	-$646,917 -$0	$1,208,723
8	$1,948,468	-$681,264 -$0	$1,267,204
9	$2,045,896	-$717,312 -$0	$1,328,584
10	$2,148,200	-$755,164 -$0	$1,393,036
11	$2,255,564	-$794,889 -$0	$1,460,675
12	$2,368,356	-$836,622 -$0	$1,531,734
13	$2,486,760	-$880,432 -$0	$1,606,328
14	$2,611,144	-$926,454 -$0	$1,684,690
15	$2,741,692	-$974,756 -$0	$1,766,936
16	$2,878,772	-$1,025,476 -$0	$1,853,296
17	$3,022,660	-$1,078,715 -$0	$1,943,945
18	$3,173,816	-$1,134,642 -$0	$2,039,174
19	$3,332,516	-$1,193,361 -$0	$2,139,155
20	$3,499,128	-$1,255,008 -$0	$2,244,120
21	$3,674,112	-$1,319,752 -$0	$2,354,360
22	$3,857,836	-$1,387,730 -$0	$2,470,106
23	$4,050,668	-$1,459,078 -$0	$2,591,590
24	$4,253,252	-$1,534,034 -$0	$2,719,218
25	$4,465,864	-$1,612,700 -$0	$2,853,164
26	$4,689,240	-$1,695,349 -$0	$2,993,891
27	$4,923,656	-$1,782,083 -$0	$3,141,573
28	$5,169,848	-$1,873,174 -$0	$3,296,674
29	$5,428,368	-$1,968,827 -$0	$3,459,541
30	$5,699,768	-$2,069,245 -$0	$3,630,523