North Dakota Lottery

NDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 21, 2024 is estimated to be $88 Million, with a cash option of 41 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 North Dakota, your state will take 2.9% 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.

North Dakota Powerball Jackpot/Cash Option for Sat Dec 21, 2024

Draw Date	Jackpot	Cash Option
Sat Dec 21, 2024	$88,000,000	$41,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$41,000,000
Federal Tax(24%)	$9,840,000
Additional Federal Tax	$5,290,330
State Tax(2.9%)	$1,189,000
Net Lumpsum Payment	$24,680,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,324,488	-$450,391 -$38,410	$835,687
2	$1,390,752	-$474,909 -$40,332	$875,511
3	$1,460,272	-$500,631 -$42,348	$917,293
4	$1,533,312	-$527,656 -$44,466	$961,190
5	$1,609,960	-$556,016 -$46,689	$1,007,255
6	$1,690,480	-$585,808 -$49,024	$1,055,648
7	$1,774,960	-$617,066 -$51,474	$1,106,420
8	$1,863,752	-$649,919 -$54,049	$1,159,784
9	$1,956,944	-$684,400 -$56,751	$1,215,793
10	$2,054,800	-$720,606 -$59,589	$1,274,605
11	$2,157,496	-$758,604 -$62,567	$1,336,325
12	$2,265,384	-$798,522 -$65,696	$1,401,166
13	$2,378,640	-$840,427 -$68,981	$1,469,232
14	$2,497,616	-$884,448 -$72,431	$1,540,737
15	$2,622,488	-$930,651 -$76,052	$1,615,785
16	$2,753,608	-$979,165 -$79,855	$1,694,588
17	$2,891,240	-$1,030,089 -$83,846	$1,777,305
18	$3,035,824	-$1,083,585 -$88,039	$1,864,200
19	$3,187,624	-$1,139,751 -$92,441	$1,955,432
20	$3,346,992	-$1,198,717 -$97,063	$2,051,212
21	$3,514,368	-$1,260,647 -$101,917	$2,151,804
22	$3,690,104	-$1,325,669 -$107,013	$2,257,422
23	$3,874,552	-$1,393,915 -$112,362	$2,368,275
24	$4,068,328	-$1,465,612 -$117,982	$2,484,734
25	$4,271,696	-$1,540,858 -$123,879	$2,606,959
26	$4,485,360	-$1,619,914 -$130,075	$2,735,371
27	$4,709,584	-$1,702,876 -$136,578	$2,870,130
28	$4,945,072	-$1,790,007 -$143,407	$3,011,658
29	$5,192,352	-$1,881,501 -$150,578	$3,160,273
30	$5,451,952	-$1,977,553 -$158,107	$3,316,292