Missouri Lottery

MOLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Dec 4, 2024 is estimated to be $240 Million, with a cash option of 113.6 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 Missouri, 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.

Missouri Powerball Jackpot/Cash Option for Wed Dec 4, 2024

Draw Date	Jackpot	Cash Option
Wed Dec 4, 2024	$240,000,000	$113,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$113,600,000
Federal Tax(24%)	$27,264,000
Additional Federal Tax	$14,728,330
State Tax(4%)	$4,544,000
Net Lumpsum Payment	$67,063,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,612,240	-$1,296,859 -$144,490	$2,170,891
2	$3,792,960	-$1,363,726 -$151,718	$2,277,516
3	$3,982,560	-$1,433,878 -$159,302	$2,389,380
4	$4,181,760	-$1,507,582 -$167,270	$2,506,908
5	$4,390,800	-$1,584,926 -$175,632	$2,630,242
6	$4,610,400	-$1,666,178 -$184,416	$2,759,806
7	$4,840,800	-$1,751,426 -$193,632	$2,895,742
8	$5,082,960	-$1,841,026 -$203,318	$3,038,616
9	$5,337,120	-$1,935,065 -$213,485	$3,188,570
10	$5,604,000	-$2,033,810 -$224,160	$3,346,030
11	$5,884,080	-$2,137,440 -$235,363	$3,511,277
12	$6,178,320	-$2,246,309 -$247,133	$3,684,878
13	$6,487,200	-$2,360,594 -$259,488	$3,867,118
14	$6,811,680	-$2,480,652 -$272,467	$4,058,561
15	$7,152,240	-$2,606,659 -$286,090	$4,259,491
16	$7,509,840	-$2,738,971 -$300,394	$4,470,475
17	$7,885,200	-$2,877,854 -$315,408	$4,691,938
18	$8,279,520	-$3,023,753 -$331,181	$4,924,586
19	$8,693,520	-$3,176,933 -$347,741	$5,168,846
20	$9,128,160	-$3,337,750 -$365,126	$5,425,284
21	$9,584,640	-$3,506,647 -$383,386	$5,694,607
22	$10,063,920	-$3,683,981 -$402,557	$5,977,382
23	$10,566,960	-$3,870,106 -$422,678	$6,274,176
24	$11,095,440	-$4,065,643 -$443,818	$6,585,979
25	$11,650,080	-$4,270,860 -$466,003	$6,913,217
26	$12,232,800	-$4,486,466 -$489,312	$7,257,022
27	$12,844,320	-$4,712,729 -$513,773	$7,617,818
28	$13,486,560	-$4,950,358 -$539,462	$7,996,740
29	$14,160,960	-$5,199,886 -$566,438	$8,394,636
30	$14,868,960	-$5,461,846 -$594,758	$8,812,356