Missouri Lottery

MOLottery 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 Missouri, your state will take 4% 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.

Missouri 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%)	$672,000
Net Lumpsum Payment	$9,951,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$21,673	$359,353
2	$568,944	-$170,840 -$22,758	$375,346
3	$597,384	-$181,362 -$23,895	$392,127
4	$627,264	-$192,418 -$25,091	$409,755
5	$658,620	-$204,020 -$26,345	$428,255
6	$691,560	-$216,208 -$27,662	$447,690
7	$726,120	-$228,995 -$29,045	$468,080
8	$762,444	-$242,435 -$30,498	$489,511
9	$800,568	-$256,541 -$32,023	$512,004
10	$840,600	-$271,352 -$33,624	$535,624
11	$882,612	-$286,897 -$35,304	$560,411
12	$926,748	-$303,227 -$37,070	$586,451
13	$973,080	-$320,370 -$38,923	$613,787
14	$1,021,752	-$338,379 -$40,870	$642,503
15	$1,072,836	-$357,280 -$42,913	$672,643
16	$1,126,476	-$377,127 -$45,059	$704,290
17	$1,182,780	-$397,959 -$47,311	$737,510
18	$1,241,928	-$419,844 -$49,677	$772,407
19	$1,304,028	-$442,821 -$52,161	$809,046
20	$1,369,224	-$466,943 -$54,769	$847,512
21	$1,437,696	-$492,278 -$57,508	$887,910
22	$1,509,588	-$518,878 -$60,384	$930,326
23	$1,585,044	-$546,797 -$63,402	$974,845
24	$1,664,316	-$576,127 -$66,573	$1,021,616
25	$1,747,512	-$606,910 -$69,900	$1,070,702
26	$1,834,920	-$639,251 -$73,397	$1,122,272
27	$1,926,648	-$673,190 -$77,066	$1,176,392
28	$2,022,984	-$708,834 -$80,919	$1,233,231
29	$2,124,144	-$746,264 -$84,966	$1,292,914
30	$2,230,344	-$785,558 -$89,214	$1,355,572