Arkansas Lottery

ARLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 21, 2024 is estimated to be $88 Million, with a cash option of 41 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 Dec 21, 2024

Draw Date	Jackpot	Cash Option
Sat Dec 21, 2024	$88,000,000	$41,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$41,000,000
Federal Tax(24%)	$9,840,000
Additional Federal Tax	$5,290,330
State Tax(4.9%)	$2,009,000
Net Lumpsum Payment	$23,860,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,324,488	-$450,391 -$64,900	$809,197
2	$1,390,752	-$474,909 -$68,147	$847,696
3	$1,460,272	-$500,631 -$71,553	$888,088
4	$1,533,312	-$527,656 -$75,132	$930,524
5	$1,609,960	-$556,016 -$78,888	$975,056
6	$1,690,480	-$585,808 -$82,834	$1,021,838
7	$1,774,960	-$617,066 -$86,973	$1,070,921
8	$1,863,752	-$649,919 -$91,324	$1,122,509
9	$1,956,944	-$684,400 -$95,890	$1,176,654
10	$2,054,800	-$720,606 -$100,685	$1,233,509
11	$2,157,496	-$758,604 -$105,717	$1,293,175
12	$2,265,384	-$798,522 -$111,004	$1,355,858
13	$2,378,640	-$840,427 -$116,553	$1,421,660
14	$2,497,616	-$884,448 -$122,383	$1,490,785
15	$2,622,488	-$930,651 -$128,502	$1,563,335
16	$2,753,608	-$979,165 -$134,927	$1,639,516
17	$2,891,240	-$1,030,089 -$141,671	$1,719,480
18	$3,035,824	-$1,083,585 -$148,755	$1,803,484
19	$3,187,624	-$1,139,751 -$156,194	$1,891,679
20	$3,346,992	-$1,198,717 -$164,003	$1,984,272
21	$3,514,368	-$1,260,647 -$172,204	$2,081,517
22	$3,690,104	-$1,325,669 -$180,815	$2,183,620
23	$3,874,552	-$1,393,915 -$189,853	$2,290,784
24	$4,068,328	-$1,465,612 -$199,348	$2,403,368
25	$4,271,696	-$1,540,858 -$209,313	$2,521,525
26	$4,485,360	-$1,619,914 -$219,783	$2,645,663
27	$4,709,584	-$1,702,876 -$230,770	$2,775,938
28	$4,945,072	-$1,790,007 -$242,309	$2,912,756
29	$5,192,352	-$1,881,501 -$254,425	$3,056,426
30	$5,451,952	-$1,977,553 -$267,146	$3,207,253