Louisiana Lottery

LALottery 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 Louisiana, your state will take 4.75% 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.

Louisiana 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(4.75%)	$4,403,250
Net Lumpsum Payment	$54,037,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$145,129	$1,819,413
2	$3,208,212	-$1,147,369 -$152,390	$1,908,453
3	$3,368,582	-$1,206,706 -$160,008	$2,001,868
4	$3,537,072	-$1,269,047 -$168,011	$2,100,014
5	$3,713,885	-$1,334,468 -$176,410	$2,203,007
6	$3,899,630	-$1,403,193 -$185,232	$2,311,205
7	$4,094,510	-$1,475,299 -$194,489	$2,424,722
8	$4,299,337	-$1,551,085 -$204,219	$2,544,033
9	$4,514,314	-$1,630,627 -$214,430	$2,669,257
10	$4,740,050	-$1,714,149 -$225,152	$2,800,749
11	$4,976,951	-$1,801,802 -$236,405	$2,938,744
12	$5,225,829	-$1,893,887 -$248,227	$3,083,715
13	$5,487,090	-$1,990,554 -$260,637	$3,235,899
14	$5,761,546	-$2,092,102 -$273,673	$3,395,771
15	$6,049,603	-$2,198,683 -$287,356	$3,563,564
16	$6,352,073	-$2,310,597 -$301,723	$3,739,753
17	$6,669,565	-$2,428,069 -$316,804	$3,924,692
18	$7,003,094	-$2,551,475 -$332,647	$4,118,972
19	$7,353,269	-$2,681,040 -$349,280	$4,322,949
20	$7,720,902	-$2,817,064 -$366,743	$4,537,095
21	$8,107,008	-$2,959,923 -$385,083	$4,762,002
22	$8,512,399	-$3,109,918 -$404,339	$4,998,142
23	$8,937,887	-$3,267,349 -$424,550	$5,245,988
24	$9,384,893	-$3,432,741 -$445,782	$5,506,370
25	$9,854,026	-$3,606,320 -$468,066	$5,779,640
26	$10,346,910	-$3,788,687 -$491,478	$6,066,745
27	$10,864,154	-$3,980,067 -$516,047	$6,368,040
28	$11,407,382	-$4,181,062 -$541,851	$6,684,469
29	$11,977,812	-$4,392,121 -$568,946	$7,016,745
30	$12,576,662	-$4,613,695 -$597,391	$7,365,576