Arkansas Lottery

ARLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 22, 2025 is estimated to be $31 Million, with a cash option of 13.8 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 Wed Jan 22, 2025

Draw Date	Jackpot	Cash Option
Wed Jan 22, 2025	$31,000,000	$13,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,800,000
Federal Tax(24%)	$3,312,000
Additional Federal Tax	$1,754,330
State Tax(4.9%)	$676,200
Net Lumpsum Payment	$8,057,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$22,862	$310,754
2	$489,924	-$141,602 -$24,006	$324,316
3	$514,414	-$150,664 -$25,206	$338,544
4	$540,144	-$160,184 -$26,467	$353,493
5	$567,145	-$170,174 -$27,790	$369,181
6	$595,510	-$180,669 -$29,180	$385,661
7	$625,270	-$191,680 -$30,638	$402,952
8	$656,549	-$203,254 -$32,171	$421,124
9	$689,378	-$215,400 -$33,780	$440,198
10	$723,850	-$228,155 -$35,469	$460,226
11	$760,027	-$241,540 -$37,241	$481,246
12	$798,033	-$255,603 -$39,104	$503,326
13	$837,930	-$270,364 -$41,059	$526,507
14	$879,842	-$285,872 -$43,112	$550,858
15	$923,831	-$302,148 -$45,268	$576,415
16	$970,021	-$319,238 -$47,531	$603,252
17	$1,018,505	-$337,177 -$49,907	$631,421
18	$1,069,438	-$356,022 -$52,402	$661,014
19	$1,122,913	-$375,808 -$55,023	$692,082
20	$1,179,054	-$396,580 -$57,774	$724,700
21	$1,238,016	-$418,396 -$60,663	$758,957
22	$1,299,923	-$441,302 -$63,696	$794,925
23	$1,364,899	-$465,343 -$66,880	$832,676
24	$1,433,161	-$490,600 -$70,225	$872,336
25	$1,504,802	-$517,107 -$73,735	$913,960
26	$1,580,070	-$544,956 -$77,423	$957,691
27	$1,659,058	-$574,182 -$81,294	$1,003,582
28	$1,742,014	-$604,876 -$85,359	$1,051,779
29	$1,829,124	-$637,106 -$89,627	$1,102,391
30	$1,920,574	-$670,943 -$94,108	$1,155,523