Colorado Lottery

COLottery 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 Colorado, your state will take 4% 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.

Colorado 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(4%)$3,148,000
Net Lumpsum Payment$46,472,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $2,573,721 -$912,607
-$102,949
$1,558,165
2 $2,702,484 -$960,249
-$108,099
$1,634,136
3 $2,837,574 -$1,010,233
-$113,503
$1,713,838
4 $2,979,504 -$1,062,747
-$119,180
$1,797,577
5 $3,128,445 -$1,117,855
-$125,138
$1,885,452
6 $3,284,910 -$1,175,747
-$131,396
$1,977,767
7 $3,449,070 -$1,236,486
-$137,963
$2,074,621
8 $3,621,609 -$1,300,326
-$144,864
$2,176,419
9 $3,802,698 -$1,367,329
-$152,108
$2,283,261
10 $3,992,850 -$1,437,685
-$159,714
$2,395,451
11 $4,192,407 -$1,511,521
-$167,696
$2,513,190
12 $4,402,053 -$1,589,090
-$176,082
$2,636,881
13 $4,622,130 -$1,670,518
-$184,885
$2,766,727
14 $4,853,322 -$1,756,060
-$194,133
$2,903,129
15 $5,095,971 -$1,845,840
-$203,839
$3,046,292
16 $5,350,761 -$1,940,112
-$214,030
$3,196,619
17 $5,618,205 -$2,039,066
-$224,728
$3,354,411
18 $5,899,158 -$2,143,019
-$235,966
$3,520,173
19 $6,194,133 -$2,252,160
-$247,765
$3,694,208
20 $6,503,814 -$2,366,742
-$260,153
$3,876,919
21 $6,829,056 -$2,487,081
-$273,162
$4,068,813
22 $7,170,543 -$2,613,431
-$286,822
$4,270,290
23 $7,528,959 -$2,746,045
-$301,158
$4,481,756
24 $7,905,501 -$2,885,366
-$316,220
$4,703,915
25 $8,300,682 -$3,031,583
-$332,027
$4,937,072
26 $8,715,870 -$3,185,202
-$348,635
$5,182,033
27 $9,151,578 -$3,346,414
-$366,063
$5,439,101
28 $9,609,174 -$3,515,725
-$384,367
$5,709,082
29 $10,089,684 -$3,693,513
-$403,587
$5,992,584
30 $10,594,134 -$3,880,160
-$423,765
$6,290,209
1
7
1
Cash Option: $78.7 Million
Next Draw: Sat Nov 23
Powerball
Wed Nov 20, 2024
163060626425

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