North Dakota Lottery

NDLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 29, 2024 is estimated to be $164 Million, with a cash option of 74.9 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 Mon Apr 29, 2024

Draw Date	Jackpot	Cash Option
Mon Apr 29, 2024	$164,000,000	$74,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$74,900,000
Federal Tax(24%)	$17,976,000
Additional Federal Tax	$9,697,330
State Tax(2.9%)	$2,172,100
Net Lumpsum Payment	$45,054,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,468,364	-$873,625 -$71,583	$1,523,156
2	$2,591,856	-$919,317 -$75,164	$1,597,375
3	$2,721,416	-$967,254 -$78,921	$1,675,241
4	$2,857,536	-$1,017,619 -$82,869	$1,757,048
5	$3,000,380	-$1,070,471 -$87,011	$1,842,898
6	$3,150,440	-$1,125,993 -$91,363	$1,933,084
7	$3,307,880	-$1,184,246 -$95,929	$2,027,705
8	$3,473,356	-$1,245,472 -$100,727	$2,127,157
9	$3,647,032	-$1,309,732 -$105,764	$2,231,536
10	$3,829,400	-$1,377,208 -$111,053	$2,341,139
11	$4,020,788	-$1,448,022 -$116,603	$2,456,163
12	$4,221,852	-$1,522,416 -$122,434	$2,577,002
13	$4,432,920	-$1,600,511 -$128,555	$2,703,854
14	$4,654,648	-$1,682,550 -$134,985	$2,837,113
15	$4,887,364	-$1,768,655 -$141,734	$2,976,975
16	$5,131,724	-$1,859,068 -$148,820	$3,123,836
17	$5,388,220	-$1,953,972 -$156,258	$3,277,990
18	$5,657,672	-$2,053,669 -$164,072	$3,439,931
19	$5,940,572	-$2,158,342 -$172,277	$3,609,953
20	$6,237,576	-$2,268,234 -$180,890	$3,788,452
21	$6,549,504	-$2,383,647 -$189,936	$3,975,921
22	$6,877,012	-$2,504,825 -$199,433	$4,172,754
23	$7,220,756	-$2,632,010 -$209,402	$4,379,344
24	$7,581,884	-$2,765,627 -$219,875	$4,596,382
25	$7,960,888	-$2,905,859 -$230,866	$4,824,163
26	$8,359,080	-$3,053,190 -$242,413	$5,063,477
27	$8,776,952	-$3,207,803 -$254,532	$5,314,617
28	$9,215,816	-$3,370,182 -$267,259	$5,578,375
29	$9,676,656	-$3,540,693 -$280,623	$5,855,340
30	$10,160,456	-$3,719,699 -$294,653	$6,146,104