Montana Lottery

MTLottery 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 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 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(6.75%)	$6,257,250
Net Lumpsum Payment	$52,183,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$206,236	$1,758,306
2	$3,208,212	-$1,147,369 -$216,554	$1,844,289
3	$3,368,582	-$1,206,706 -$227,379	$1,934,497
4	$3,537,072	-$1,269,047 -$238,752	$2,029,273
5	$3,713,885	-$1,334,468 -$250,687	$2,128,730
6	$3,899,630	-$1,403,193 -$263,225	$2,233,212
7	$4,094,510	-$1,475,299 -$276,379	$2,342,832
8	$4,299,337	-$1,551,085 -$290,205	$2,458,047
9	$4,514,314	-$1,630,627 -$304,716	$2,578,971
10	$4,740,050	-$1,714,149 -$319,953	$2,705,948
11	$4,976,951	-$1,801,802 -$335,944	$2,839,205
12	$5,225,829	-$1,893,887 -$352,743	$2,979,199
13	$5,487,090	-$1,990,554 -$370,379	$3,126,157
14	$5,761,546	-$2,092,102 -$388,904	$3,280,540
15	$6,049,603	-$2,198,683 -$408,348	$3,442,572
16	$6,352,073	-$2,310,597 -$428,765	$3,612,711
17	$6,669,565	-$2,428,069 -$450,196	$3,791,300
18	$7,003,094	-$2,551,475 -$472,709	$3,978,910
19	$7,353,269	-$2,681,040 -$496,346	$4,175,883
20	$7,720,902	-$2,817,064 -$521,161	$4,382,677
21	$8,107,008	-$2,959,923 -$547,223	$4,599,862
22	$8,512,399	-$3,109,918 -$574,587	$4,827,894
23	$8,937,887	-$3,267,349 -$603,307	$5,067,231
24	$9,384,893	-$3,432,741 -$633,480	$5,318,672
25	$9,854,026	-$3,606,320 -$665,147	$5,582,559
26	$10,346,910	-$3,788,687 -$698,416	$5,859,807
27	$10,864,154	-$3,980,067 -$733,330	$6,150,757
28	$11,407,382	-$4,181,062 -$769,998	$6,456,322
29	$11,977,812	-$4,392,121 -$808,502	$6,777,189
30	$12,576,662	-$4,613,695 -$848,925	$7,114,042