Arizona Lottery

AZLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Nov 23, 2024 is estimated to be $171 Million, with a cash option of 78.7 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 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 Sat Nov 23, 2024

Draw Date	Jackpot	Cash Option
Sat Nov 23, 2024	$171,000,000	$78,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$78,700,000
Federal Tax(24%)	$18,888,000
Additional Federal Tax	$10,191,330
State Tax(2.5%)	$1,967,500
Net Lumpsum Payment	$47,653,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,573,721	-$912,607 -$64,343	$1,596,771
2	$2,702,484	-$960,249 -$67,562	$1,674,673
3	$2,837,574	-$1,010,233 -$70,939	$1,756,402
4	$2,979,504	-$1,062,747 -$74,488	$1,842,269
5	$3,128,445	-$1,117,855 -$78,211	$1,932,379
6	$3,284,910	-$1,175,747 -$82,123	$2,027,040
7	$3,449,070	-$1,236,486 -$86,227	$2,126,357
8	$3,621,609	-$1,300,326 -$90,540	$2,230,743
9	$3,802,698	-$1,367,329 -$95,067	$2,340,302
10	$3,992,850	-$1,437,685 -$99,821	$2,455,344
11	$4,192,407	-$1,511,521 -$104,810	$2,576,076
12	$4,402,053	-$1,589,090 -$110,051	$2,702,912
13	$4,622,130	-$1,670,518 -$115,553	$2,836,059
14	$4,853,322	-$1,756,060 -$121,333	$2,975,929
15	$5,095,971	-$1,845,840 -$127,399	$3,122,732
16	$5,350,761	-$1,940,112 -$133,769	$3,276,880
17	$5,618,205	-$2,039,066 -$140,455	$3,438,684
18	$5,899,158	-$2,143,019 -$147,479	$3,608,660
19	$6,194,133	-$2,252,160 -$154,853	$3,787,120
20	$6,503,814	-$2,366,742 -$162,595	$3,974,477
21	$6,829,056	-$2,487,081 -$170,726	$4,171,249
22	$7,170,543	-$2,613,431 -$179,264	$4,377,848
23	$7,528,959	-$2,746,045 -$188,224	$4,594,690
24	$7,905,501	-$2,885,366 -$197,638	$4,822,497
25	$8,300,682	-$3,031,583 -$207,517	$5,061,582
26	$8,715,870	-$3,185,202 -$217,897	$5,312,771
27	$9,151,578	-$3,346,414 -$228,789	$5,576,375
28	$9,609,174	-$3,515,725 -$240,229	$5,853,220
29	$10,089,684	-$3,693,513 -$252,242	$6,143,929
30	$10,594,134	-$3,880,160 -$264,853	$6,449,121