Arkansas Lottery

ARLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 4, 2024 is estimated to be $203 Million, with a cash option of 92.7 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 May 4, 2024

Draw Date	Jackpot	Cash Option
Sat May 4, 2024	$203,000,000	$92,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,700,000
Federal Tax(24%)	$22,248,000
Additional Federal Tax	$12,011,330
State Tax(4.9%)	$4,542,300
Net Lumpsum Payment	$53,898,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$149,712	$1,814,830
2	$3,208,212	-$1,147,369 -$157,202	$1,903,641
3	$3,368,582	-$1,206,706 -$165,061	$1,996,815
4	$3,537,072	-$1,269,047 -$173,317	$2,094,708
5	$3,713,885	-$1,334,468 -$181,980	$2,197,437
6	$3,899,630	-$1,403,193 -$191,082	$2,305,355
7	$4,094,510	-$1,475,299 -$200,631	$2,418,580
8	$4,299,337	-$1,551,085 -$210,668	$2,537,584
9	$4,514,314	-$1,630,627 -$221,201	$2,662,486
10	$4,740,050	-$1,714,149 -$232,262	$2,793,639
11	$4,976,951	-$1,801,802 -$243,871	$2,931,278
12	$5,225,829	-$1,893,887 -$256,066	$3,075,876
13	$5,487,090	-$1,990,554 -$268,867	$3,227,669
14	$5,761,546	-$2,092,102 -$282,316	$3,387,128
15	$6,049,603	-$2,198,683 -$296,431	$3,554,489
16	$6,352,073	-$2,310,597 -$311,252	$3,730,224
17	$6,669,565	-$2,428,069 -$326,809	$3,914,687
18	$7,003,094	-$2,551,475 -$343,152	$4,108,467
19	$7,353,269	-$2,681,040 -$360,310	$4,311,919
20	$7,720,902	-$2,817,064 -$378,324	$4,525,514
21	$8,107,008	-$2,959,923 -$397,243	$4,749,842
22	$8,512,399	-$3,109,918 -$417,108	$4,985,373
23	$8,937,887	-$3,267,349 -$437,956	$5,232,582
24	$9,384,893	-$3,432,741 -$459,860	$5,492,292
25	$9,854,026	-$3,606,320 -$482,847	$5,764,859
26	$10,346,910	-$3,788,687 -$506,999	$6,051,224
27	$10,864,154	-$3,980,067 -$532,344	$6,351,743
28	$11,407,382	-$4,181,062 -$558,962	$6,667,358
29	$11,977,812	-$4,392,121 -$586,913	$6,998,778
30	$12,576,662	-$4,613,695 -$616,256	$7,346,711