The jackpot for the Powerball draw on Sat May 18, 2024, is projected to be $77 Million, with an option for a cash payout of $36 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For North Dakota residents, the state will deduct 2.9% from your lottery earnings.
| North Dakota Powerball Jackpot/Cash Option for Sat May 18, 2024 |
|---|
| Draw Date | Sat May 18, 2024 | | Projected Jackpot | $77,000,000 | | Cash Value | $36,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,000,000 | | Federal Tax(24%) | $8,640,000 | | Additional Federal Tax | $4,640,330 | | State Tax(2.9%) | $1,044,000 | | Net Lumpsum Payment | $21,675,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,158,927 |
$389,133
$33,609 |
$736,185 |
| 2 |
$1,216,908 |
$410,586
$35,290 |
$771,032 |
| 3 |
$1,277,738 |
$433,093
$37,054 |
$807,591 |
| 4 |
$1,341,648 |
$456,740
$38,908 |
$846,000 |
| 5 |
$1,408,715 |
$481,555
$40,853 |
$886,307 |
| 6 |
$1,479,170 |
$507,623
$42,896 |
$928,651 |
| 7 |
$1,553,090 |
$534,974
$45,040 |
$973,076 |
| 8 |
$1,630,783 |
$563,720
$47,293 |
$1,019,770 |
| 9 |
$1,712,326 |
$593,891
$49,657 |
$1,068,778 |
| 10 |
$1,797,950 |
$625,572
$52,141 |
$1,120,237 |
| 11 |
$1,887,809 |
$658,820
$54,746 |
$1,174,243 |
| 12 |
$1,982,211 |
$693,748
$57,484 |
$1,230,979 |
| 13 |
$2,081,310 |
$730,415
$60,358 |
$1,290,537 |
| 14 |
$2,185,414 |
$768,934
$63,377 |
$1,353,103 |
| 15 |
$2,294,677 |
$809,361
$66,546 |
$1,418,770 |
| 16 |
$2,409,407 |
$851,811
$69,873 |
$1,487,723 |
| 17 |
$2,529,835 |
$896,369
$73,365 |
$1,560,101 |
| 18 |
$2,656,346 |
$943,178
$77,034 |
$1,636,134 |
| 19 |
$2,789,171 |
$992,324
$80,886 |
$1,715,961 |
| 20 |
$2,928,618 |
$1,043,919
$84,930 |
$1,799,769 |
| 21 |
$3,075,072 |
$1,098,107
$89,177 |
$1,887,788 |
| 22 |
$3,228,841 |
$1,155,002
$93,636 |
$1,980,203 |
| 23 |
$3,390,233 |
$1,214,717
$98,317 |
$2,077,199 |
| 24 |
$3,559,787 |
$1,277,452
$103,234 |
$2,179,101 |
| 25 |
$3,737,734 |
$1,343,292
$108,394 |
$2,286,048 |
| 26 |
$3,924,690 |
$1,412,466
$113,816 |
$2,398,408 |
| 27 |
$4,120,886 |
$1,485,058
$119,506 |
$2,516,322 |
| 28 |
$4,326,938 |
$1,561,297
$125,481 |
$2,640,160 |
| 29 |
$4,543,308 |
$1,641,354
$131,756 |
$2,770,198 |
| 30 |
$4,770,458 |
$1,725,400
$138,343 |
$2,906,715 |
|
|
