Idaho Lottery

IDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 29, 2024 is estimated to be $164 Million, with a cash option of 74.9 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 Idaho, your state will take 5.8% 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.

Idaho Powerball Jackpot/Cash Option for Mon Apr 29, 2024

Draw Date	Jackpot	Cash Option
Mon Apr 29, 2024	$164,000,000	$74,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$74,900,000
Federal Tax(24%)	$17,976,000
Additional Federal Tax	$9,697,330
State Tax(5.8%)	$4,344,200
Net Lumpsum Payment	$42,882,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,468,364	-$873,625 -$143,165	$1,451,574
2	$2,591,856	-$919,317 -$150,328	$1,522,211
3	$2,721,416	-$967,254 -$157,842	$1,596,320
4	$2,857,536	-$1,017,619 -$165,737	$1,674,180
5	$3,000,380	-$1,070,471 -$174,022	$1,755,887
6	$3,150,440	-$1,125,993 -$182,726	$1,841,721
7	$3,307,880	-$1,184,246 -$191,857	$1,931,777
8	$3,473,356	-$1,245,472 -$201,455	$2,026,429
9	$3,647,032	-$1,309,732 -$211,528	$2,125,772
10	$3,829,400	-$1,377,208 -$222,105	$2,230,087
11	$4,020,788	-$1,448,022 -$233,206	$2,339,560
12	$4,221,852	-$1,522,416 -$244,867	$2,454,569
13	$4,432,920	-$1,600,511 -$257,109	$2,575,300
14	$4,654,648	-$1,682,550 -$269,970	$2,702,128
15	$4,887,364	-$1,768,655 -$283,467	$2,835,242
16	$5,131,724	-$1,859,068 -$297,640	$2,975,016
17	$5,388,220	-$1,953,972 -$312,517	$3,121,731
18	$5,657,672	-$2,053,669 -$328,145	$3,275,858
19	$5,940,572	-$2,158,342 -$344,553	$3,437,677
20	$6,237,576	-$2,268,234 -$361,779	$3,607,563
21	$6,549,504	-$2,383,647 -$379,871	$3,785,986
22	$6,877,012	-$2,504,825 -$398,867	$3,973,320
23	$7,220,756	-$2,632,010 -$418,804	$4,169,942
24	$7,581,884	-$2,765,627 -$439,749	$4,376,508
25	$7,960,888	-$2,905,859 -$461,732	$4,593,297
26	$8,359,080	-$3,053,190 -$484,827	$4,821,063
27	$8,776,952	-$3,207,803 -$509,063	$5,060,086
28	$9,215,816	-$3,370,182 -$534,517	$5,311,117
29	$9,676,656	-$3,540,693 -$561,246	$5,574,717
30	$10,160,456	-$3,719,699 -$589,306	$5,851,451