Louisiana Lottery

LALottery 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 Louisiana, your state will take 4.75% 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.

Louisiana 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(4.75%)	$798,000
Net Lumpsum Payment	$9,825,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$25,737	$355,289
2	$568,944	-$170,840 -$27,025	$371,079
3	$597,384	-$181,362 -$28,376	$387,646
4	$627,264	-$192,418 -$29,795	$405,051
5	$658,620	-$204,020 -$31,284	$423,316
6	$691,560	-$216,208 -$32,849	$442,503
7	$726,120	-$228,995 -$34,491	$462,634
8	$762,444	-$242,435 -$36,216	$483,793
9	$800,568	-$256,541 -$38,027	$506,000
10	$840,600	-$271,352 -$39,929	$529,319
11	$882,612	-$286,897 -$41,924	$553,791
12	$926,748	-$303,227 -$44,021	$579,500
13	$973,080	-$320,370 -$46,221	$606,489
14	$1,021,752	-$338,379 -$48,533	$634,840
15	$1,072,836	-$357,280 -$50,960	$664,596
16	$1,126,476	-$377,127 -$53,508	$695,841
17	$1,182,780	-$397,959 -$56,182	$728,639
18	$1,241,928	-$419,844 -$58,992	$763,092
19	$1,304,028	-$442,821 -$61,941	$799,266
20	$1,369,224	-$466,943 -$65,038	$837,243
21	$1,437,696	-$492,278 -$68,291	$877,127
22	$1,509,588	-$518,878 -$71,705	$919,005
23	$1,585,044	-$546,797 -$75,290	$962,957
24	$1,664,316	-$576,127 -$79,055	$1,009,134
25	$1,747,512	-$606,910 -$83,007	$1,057,595
26	$1,834,920	-$639,251 -$87,159	$1,108,510
27	$1,926,648	-$673,190 -$91,516	$1,161,942
28	$2,022,984	-$708,834 -$96,092	$1,218,058
29	$2,124,144	-$746,264 -$100,897	$1,276,983
30	$2,230,344	-$785,558 -$105,941	$1,338,845