Arkansas Lottery

ARLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Nov 13, 2024 is estimated to be $113 Million, with a cash option of 53.4 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. 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 Nov 13, 2024

Draw Date	Jackpot	Cash Option
Wed Nov 13, 2024	$113,000,000	$53,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$53,400,000
Federal Tax(24%)	$12,816,000
Additional Federal Tax	$6,902,330
State Tax(4.9%)	$2,616,600
Net Lumpsum Payment	$31,065,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,700,763	-$589,613 -$83,337	$1,027,813
2	$1,785,852	-$621,096 -$87,507	$1,077,249
3	$1,875,122	-$654,126 -$91,881	$1,129,115
4	$1,968,912	-$688,828 -$96,477	$1,183,607
5	$2,067,335	-$725,244 -$101,299	$1,240,792
6	$2,170,730	-$763,500 -$106,366	$1,300,864
7	$2,279,210	-$803,638 -$111,681	$1,363,891
8	$2,393,227	-$845,824 -$117,268	$1,430,135
9	$2,512,894	-$890,101 -$123,132	$1,499,661
10	$2,638,550	-$936,594 -$129,289	$1,572,667
11	$2,770,421	-$985,386 -$135,751	$1,649,284
12	$2,908,959	-$1,036,645 -$142,539	$1,729,775
13	$3,054,390	-$1,090,455 -$149,665	$1,814,270
14	$3,207,166	-$1,146,982 -$157,151	$1,903,033
15	$3,367,513	-$1,206,310 -$165,008	$1,996,195
16	$3,535,883	-$1,268,607 -$173,258	$2,094,018
17	$3,712,615	-$1,333,998 -$181,918	$2,196,699
18	$3,898,274	-$1,402,692 -$191,015	$2,304,567
19	$4,093,199	-$1,474,814 -$200,567	$2,417,818
20	$4,297,842	-$1,550,532 -$210,594	$2,536,716
21	$4,512,768	-$1,630,055 -$221,126	$2,661,587
22	$4,738,429	-$1,713,549 -$232,183	$2,792,697
23	$4,975,277	-$1,801,183 -$243,789	$2,930,305
24	$5,224,103	-$1,893,248 -$255,981	$3,074,874
25	$5,485,246	-$1,989,871 -$268,777	$3,226,598
26	$5,759,610	-$2,091,386 -$282,221	$3,386,003
27	$6,047,534	-$2,197,918 -$296,329	$3,553,287
28	$6,349,922	-$2,309,802 -$311,146	$3,728,974
29	$6,667,452	-$2,427,288 -$326,705	$3,913,459
30	$7,000,802	-$2,550,627 -$343,039	$4,107,136