Montana Lottery

MTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 22, 2025 is estimated to be $31 Million, with a cash option of 13.8 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 Wed Jan 22, 2025

Draw Date	Jackpot	Cash Option
Wed Jan 22, 2025	$31,000,000	$13,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,800,000
Federal Tax(24%)	$3,312,000
Additional Federal Tax	$1,754,330
State Tax(6.75%)	$931,500
Net Lumpsum Payment	$7,802,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$31,494	$302,122
2	$489,924	-$141,602 -$33,070	$315,252
3	$514,414	-$150,664 -$34,723	$329,027
4	$540,144	-$160,184 -$36,460	$343,500
5	$567,145	-$170,174 -$38,282	$358,689
6	$595,510	-$180,669 -$40,197	$374,644
7	$625,270	-$191,680 -$42,206	$391,384
8	$656,549	-$203,254 -$44,317	$408,978
9	$689,378	-$215,400 -$46,533	$427,445
10	$723,850	-$228,155 -$48,860	$446,835
11	$760,027	-$241,540 -$51,302	$467,185
12	$798,033	-$255,603 -$53,867	$488,563
13	$837,930	-$270,364 -$56,560	$511,006
14	$879,842	-$285,872 -$59,389	$534,581
15	$923,831	-$302,148 -$62,359	$559,324
16	$970,021	-$319,238 -$65,476	$585,307
17	$1,018,505	-$337,177 -$68,749	$612,579
18	$1,069,438	-$356,022 -$72,187	$641,229
19	$1,122,913	-$375,808 -$75,797	$671,308
20	$1,179,054	-$396,580 -$79,586	$702,888
21	$1,238,016	-$418,396 -$83,566	$736,054
22	$1,299,923	-$441,302 -$87,745	$770,876
23	$1,364,899	-$465,343 -$92,131	$807,425
24	$1,433,161	-$490,600 -$96,738	$845,823
25	$1,504,802	-$517,107 -$101,574	$886,121
26	$1,580,070	-$544,956 -$106,655	$928,459
27	$1,659,058	-$574,182 -$111,986	$972,890
28	$1,742,014	-$604,876 -$117,586	$1,019,552
29	$1,829,124	-$637,106 -$123,466	$1,068,552
30	$1,920,574	-$670,943 -$129,639	$1,119,992