Missouri Lottery

MOLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jan 6, 2025 is estimated to be $220 Million, with a cash option of 98.4 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 Mon Jan 6, 2025

Draw Date	Jackpot	Cash Option
Mon Jan 6, 2025	$220,000,000	$98,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$98,400,000
Federal Tax(24%)	$23,616,000
Additional Federal Tax	$12,752,330
State Tax(4%)	$3,936,000
Net Lumpsum Payment	$58,095,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,311,220	-$1,185,482 -$132,449	$1,993,289
2	$3,476,880	-$1,246,776 -$139,075	$2,091,029
3	$3,650,680	-$1,311,082 -$146,027	$2,193,571
4	$3,833,280	-$1,378,644 -$153,331	$2,301,305
5	$4,024,900	-$1,449,543 -$160,996	$2,414,361
6	$4,226,200	-$1,524,024 -$169,048	$2,533,128
7	$4,437,400	-$1,602,168 -$177,496	$2,657,736
8	$4,659,380	-$1,684,301 -$186,375	$2,788,704
9	$4,892,360	-$1,770,504 -$195,694	$2,926,162
10	$5,137,000	-$1,861,020 -$205,480	$3,070,500
11	$5,393,740	-$1,956,014 -$215,750	$3,221,976
12	$5,663,460	-$2,055,811 -$226,538	$3,381,111
13	$5,946,600	-$2,160,572 -$237,864	$3,548,164
14	$6,244,040	-$2,270,625 -$249,762	$3,723,653
15	$6,556,220	-$2,386,132 -$262,249	$3,907,839
16	$6,884,020	-$2,507,418 -$275,361	$4,101,241
17	$7,228,100	-$2,634,727 -$289,124	$4,304,249
18	$7,589,560	-$2,768,468 -$303,582	$4,517,510
19	$7,969,060	-$2,908,883 -$318,762	$4,741,415
20	$8,367,480	-$3,056,298 -$334,699	$4,976,483
21	$8,785,920	-$3,211,121 -$351,437	$5,223,362
22	$9,225,260	-$3,373,677 -$369,010	$5,482,573
23	$9,686,380	-$3,544,291 -$387,455	$5,754,634
24	$10,170,820	-$3,723,534 -$406,833	$6,040,453
25	$10,679,240	-$3,911,649 -$427,170	$6,340,421
26	$11,213,400	-$4,109,288 -$448,536	$6,655,576
27	$11,773,960	-$4,316,696 -$470,958	$6,986,306
28	$12,362,680	-$4,534,522 -$494,507	$7,333,651
29	$12,980,880	-$4,763,256 -$519,235	$7,698,389
30	$13,629,880	-$5,003,386 -$545,195	$8,081,299