Montana Lottery

MTLottery 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 Montana, your state will take 6.75% 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.

Montana 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(6.75%)	$5,312,250
Net Lumpsum Payment	$44,308,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,573,721	-$912,607 -$173,726	$1,487,388
2	$2,702,484	-$960,249 -$182,418	$1,559,817
3	$2,837,574	-$1,010,233 -$191,536	$1,635,805
4	$2,979,504	-$1,062,747 -$201,117	$1,715,640
5	$3,128,445	-$1,117,855 -$211,170	$1,799,420
6	$3,284,910	-$1,175,747 -$221,731	$1,887,432
7	$3,449,070	-$1,236,486 -$232,812	$1,979,772
8	$3,621,609	-$1,300,326 -$244,459	$2,076,824
9	$3,802,698	-$1,367,329 -$256,682	$2,178,687
10	$3,992,850	-$1,437,685 -$269,517	$2,285,648
11	$4,192,407	-$1,511,521 -$282,987	$2,397,899
12	$4,402,053	-$1,589,090 -$297,139	$2,515,824
13	$4,622,130	-$1,670,518 -$311,994	$2,639,618
14	$4,853,322	-$1,756,060 -$327,599	$2,769,663
15	$5,095,971	-$1,845,840 -$343,978	$2,906,153
16	$5,350,761	-$1,940,112 -$361,176	$3,049,473
17	$5,618,205	-$2,039,066 -$379,229	$3,199,910
18	$5,899,158	-$2,143,019 -$398,193	$3,357,946
19	$6,194,133	-$2,252,160 -$418,104	$3,523,869
20	$6,503,814	-$2,366,742 -$439,007	$3,698,065
21	$6,829,056	-$2,487,081 -$460,961	$3,881,014
22	$7,170,543	-$2,613,431 -$484,012	$4,073,100
23	$7,528,959	-$2,746,045 -$508,205	$4,274,709
24	$7,905,501	-$2,885,366 -$533,621	$4,486,514
25	$8,300,682	-$3,031,583 -$560,296	$4,708,803
26	$8,715,870	-$3,185,202 -$588,321	$4,942,347
27	$9,151,578	-$3,346,414 -$617,732	$5,187,432
28	$9,609,174	-$3,515,725 -$648,619	$5,444,830
29	$10,089,684	-$3,693,513 -$681,054	$5,715,117
30	$10,594,134	-$3,880,160 -$715,104	$5,998,870