The jackpot for the Powerball draw on Mon Nov 11, 2024, is projected to be $103 Million, with an option for a cash payout of $48.6 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado Powerball Jackpot/Cash Option for Mon Nov 11, 2024 |
|---|
| Draw Date | Mon Nov 11, 2024 | | Projected Jackpot | $103,000,000 | | Cash Value | $48,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $48,600,000 | | Federal Tax(24%) | $11,664,000 | | Additional Federal Tax | $6,278,330 | | State Tax(4%) | $1,944,000 | | Net Lumpsum Payment | $28,713,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,550,253 |
$533,924
$62,010 |
$954,319 |
| 2 |
$1,627,812 |
$562,621
$65,112 |
$1,000,079 |
| 3 |
$1,709,182 |
$592,728
$68,367 |
$1,048,087 |
| 4 |
$1,794,672 |
$624,359
$71,787 |
$1,098,526 |
| 5 |
$1,884,385 |
$657,553
$75,375 |
$1,151,457 |
| 6 |
$1,978,630 |
$692,423
$79,145 |
$1,207,062 |
| 7 |
$2,077,510 |
$729,009
$83,100 |
$1,265,401 |
| 8 |
$2,181,437 |
$767,462
$87,257 |
$1,326,718 |
| 9 |
$2,290,514 |
$807,821
$91,621 |
$1,391,072 |
| 10 |
$2,405,050 |
$850,199
$96,202 |
$1,458,649 |
| 11 |
$2,525,251 |
$894,673
$101,010 |
$1,529,568 |
| 12 |
$2,651,529 |
$941,396
$106,061 |
$1,604,072 |
| 13 |
$2,784,090 |
$990,444
$111,364 |
$1,682,282 |
| 14 |
$2,923,346 |
$1,041,968
$116,934 |
$1,764,444 |
| 15 |
$3,069,503 |
$1,096,046
$122,780 |
$1,850,677 |
| 16 |
$3,222,973 |
$1,152,830
$128,919 |
$1,941,224 |
| 17 |
$3,384,065 |
$1,212,434
$135,363 |
$2,036,268 |
| 18 |
$3,553,294 |
$1,275,049
$142,132 |
$2,136,113 |
| 19 |
$3,730,969 |
$1,340,789
$149,239 |
$2,240,941 |
| 20 |
$3,917,502 |
$1,409,806
$156,700 |
$2,350,996 |
| 21 |
$4,113,408 |
$1,482,291
$164,536 |
$2,466,581 |
| 22 |
$4,319,099 |
$1,558,397
$172,764 |
$2,587,938 |
| 23 |
$4,534,987 |
$1,638,276
$181,399 |
$2,715,312 |
| 24 |
$4,761,793 |
$1,722,194
$190,472 |
$2,849,127 |
| 25 |
$4,999,826 |
$1,810,266
$199,993 |
$2,989,567 |
| 26 |
$5,249,910 |
$1,902,797
$209,996 |
$3,137,117 |
| 27 |
$5,512,354 |
$1,999,901
$220,494 |
$3,291,959 |
| 28 |
$5,787,982 |
$2,101,884
$231,519 |
$3,454,579 |
| 29 |
$6,077,412 |
$2,208,973
$243,096 |
$3,625,343 |
| 30 |
$6,381,262 |
$2,321,397
$255,250 |
$3,804,615 |
|
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