Arizona Lottery

AZLottery 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 Arizona, your state will take 2.5% 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.

Arizona 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(2.5%)	$345,000
Net Lumpsum Payment	$8,388,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$11,665	$321,951
2	$489,924	-$141,602 -$12,248	$336,074
3	$514,414	-$150,664 -$12,860	$350,890
4	$540,144	-$160,184 -$13,504	$366,456
5	$567,145	-$170,174 -$14,179	$382,792
6	$595,510	-$180,669 -$14,888	$399,953
7	$625,270	-$191,680 -$15,632	$417,958
8	$656,549	-$203,254 -$16,414	$436,881
9	$689,378	-$215,400 -$17,234	$456,744
10	$723,850	-$228,155 -$18,096	$477,599
11	$760,027	-$241,540 -$19,001	$499,486
12	$798,033	-$255,603 -$19,951	$522,479
13	$837,930	-$270,364 -$20,948	$546,618
14	$879,842	-$285,872 -$21,996	$571,974
15	$923,831	-$302,148 -$23,096	$598,587
16	$970,021	-$319,238 -$24,251	$626,532
17	$1,018,505	-$337,177 -$25,463	$655,865
18	$1,069,438	-$356,022 -$26,736	$686,680
19	$1,122,913	-$375,808 -$28,073	$719,032
20	$1,179,054	-$396,580 -$29,476	$752,998
21	$1,238,016	-$418,396 -$30,950	$788,670
22	$1,299,923	-$441,302 -$32,498	$826,123
23	$1,364,899	-$465,343 -$34,122	$865,434
24	$1,433,161	-$490,600 -$35,829	$906,732
25	$1,504,802	-$517,107 -$37,620	$950,075
26	$1,580,070	-$544,956 -$39,502	$995,612
27	$1,659,058	-$574,182 -$41,476	$1,043,400
28	$1,742,014	-$604,876 -$43,550	$1,093,588
29	$1,829,124	-$637,106 -$45,728	$1,146,290
30	$1,920,574	-$670,943 -$48,014	$1,201,617