Arkansas Lottery

ARLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 11, 2024 is estimated to be $36 Million, with a cash option of 16.8 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 Arkansas, your state will take 4.9% 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.

Arkansas Powerball Jackpot/Cash Option for Sat May 11, 2024

Draw Date	Jackpot	Cash Option
Sat May 11, 2024	$36,000,000	$16,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$16,800,000
Federal Tax(24%)	$4,032,000
Additional Federal Tax	$2,144,330
State Tax(4.9%)	$823,200
Net Lumpsum Payment	$9,800,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$26,550	$354,476
2	$568,944	-$170,840 -$27,878	$370,226
3	$597,384	-$181,362 -$29,272	$386,750
4	$627,264	-$192,418 -$30,736	$404,110
5	$658,620	-$204,020 -$32,272	$422,328
6	$691,560	-$216,208 -$33,886	$441,466
7	$726,120	-$228,995 -$35,580	$461,545
8	$762,444	-$242,435 -$37,360	$482,649
9	$800,568	-$256,541 -$39,228	$504,799
10	$840,600	-$271,352 -$41,189	$528,059
11	$882,612	-$286,897 -$43,248	$552,467
12	$926,748	-$303,227 -$45,411	$578,110
13	$973,080	-$320,370 -$47,681	$605,029
14	$1,021,752	-$338,379 -$50,066	$633,307
15	$1,072,836	-$357,280 -$52,569	$662,987
16	$1,126,476	-$377,127 -$55,197	$694,152
17	$1,182,780	-$397,959 -$57,956	$726,865
18	$1,241,928	-$419,844 -$60,854	$761,230
19	$1,304,028	-$442,821 -$63,897	$797,310
20	$1,369,224	-$466,943 -$67,092	$835,189
21	$1,437,696	-$492,278 -$70,447	$874,971
22	$1,509,588	-$518,878 -$73,970	$916,740
23	$1,585,044	-$546,797 -$77,667	$960,580
24	$1,664,316	-$576,127 -$81,551	$1,006,638
25	$1,747,512	-$606,910 -$85,628	$1,054,974
26	$1,834,920	-$639,251 -$89,911	$1,105,758
27	$1,926,648	-$673,190 -$94,406	$1,159,052
28	$2,022,984	-$708,834 -$99,126	$1,215,024
29	$2,124,144	-$746,264 -$104,083	$1,273,797
30	$2,230,344	-$785,558 -$109,287	$1,335,499