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Massachusetts(MA) Powerball Prize Analysis for Mon Jan 06, 2025
Updated: Sunday, January 5th, 2025 12:10 AM The estimated jackpot for Powerball on Mon Jan 06, 2025 is $220 million. The cash option is $98.4 million. The Powerball prize analysis tells you how much you would get after state, local and federal tax withholdings. As legally required by the state of Massachusetts, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. The Massachusetts state tax rate for lottery winning is 5%. - Prize Analysis for $98.4 Million Cash Option - The federal tax that must be withheld is $24,600,000.00. Massachusetts state tax withholding amounts to $4,920,000.00. A single winner will receive $68,880,000.00 after tax deduction.
- Prize Analysis for $220 Million Annuity - The winner gets paid in 30 annual payments in the average amount of $7,333,333.33 per year. The average federal tax liability is $1,833,333.33 per year. The average annual Massachusetts state tax withholding amounts to $366,666.67. A single winner will receive an average yearly net payment in the amount of $5,133,333.33 after tax deduction.
Please Note: Powerball annuity payments are NOT allocated evenly by years. The payments increase annually in a 30 year period. Please see below for the detailed payment schedule. For detailed information of Massachusetts Powerball Lottery Winning Taxes and Prizes Analysis, see the data listed below.
| Massachusetts(MA) Powerball Prize Analysis for Mon Jan 06, 2025 |
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Mon Jan 06, 2025
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Jackpot: $220 Million
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Cash: $98.4 Million
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| Cash Option - $98.4 Million |
| Gross Cash Payment | 25% Federal Withholding | State Withholding | Lump-Sum Net Payment | | $98,400,000.00 | -$24,600,000.00 | -$4,920,000.00 | $68,880,000.00 |
| Annuity - $220 Million in 30 Annual Payments |
| Yr |
Annual Gross Payment |
25% Federal Withholding |
State Withholding |
Annual Net Payment |
| 1 | $3,922,621.81 | -$980,655.45 | -$196,131.09 | $2,745,835.27 | | 2 | $4,079,526.68 | -$1,019,881.67 | -$203,976.33 | $2,855,668.68 | | 3 | $4,242,707.75 | -$1,060,676.94 | -$212,135.39 | $2,969,895.42 | | 4 | $4,412,416.06 | -$1,103,104.01 | -$220,620.80 | $3,088,691.24 | | 5 | $4,588,912.70 | -$1,147,228.18 | -$229,445.64 | $3,212,238.89 | | 6 | $4,772,469.21 | -$1,193,117.30 | -$238,623.46 | $3,340,728.45 | | 7 | $4,963,367.98 | -$1,240,841.99 | -$248,168.40 | $3,474,357.58 | | 8 | $5,161,902.70 | -$1,290,475.67 | -$258,095.13 | $3,613,331.89 | | 9 | $5,368,378.80 | -$1,342,094.70 | -$268,418.94 | $3,757,865.16 | | 10 | $5,583,113.96 | -$1,395,778.49 | -$279,155.70 | $3,908,179.77 | | 11 | $5,806,438.52 | -$1,451,609.63 | -$290,321.93 | $4,064,506.96 | | 12 | $6,038,696.06 | -$1,509,674.01 | -$301,934.80 | $4,227,087.24 | | 13 | $6,280,243.90 | -$1,570,060.97 | -$314,012.19 | $4,396,170.73 | | 14 | $6,531,453.65 | -$1,632,863.41 | -$326,572.68 | $4,572,017.56 | | 15 | $6,792,711.80 | -$1,698,177.95 | -$339,635.59 | $4,754,898.26 | | 16 | $7,064,420.27 | -$1,766,105.07 | -$353,221.01 | $4,945,094.19 | | 17 | $7,346,997.08 | -$1,836,749.27 | -$367,349.85 | $5,142,897.96 | | 18 | $7,640,876.97 | -$1,910,219.24 | -$382,043.85 | $5,348,613.88 | | 19 | $7,946,512.05 | -$1,986,628.01 | -$397,325.60 | $5,562,558.43 | | 20 | $8,264,372.53 | -$2,066,093.13 | -$413,218.63 | $5,785,060.77 | | 21 | $8,594,947.43 | -$2,148,736.86 | -$429,747.37 | $6,016,463.20 | | 22 | $8,938,745.33 | -$2,234,686.33 | -$446,937.27 | $6,257,121.73 | | 23 | $9,296,295.14 | -$2,324,073.78 | -$464,814.76 | $6,507,406.60 | | 24 | $9,668,146.94 | -$2,417,036.74 | -$483,407.35 | $6,767,702.86 | | 25 | $10,054,872.82 | -$2,513,718.21 | -$502,743.64 | $7,038,410.97 | | 26 | $10,457,067.73 | -$2,614,266.93 | -$522,853.39 | $7,319,947.41 | | 27 | $10,875,350.44 | -$2,718,837.61 | -$543,767.52 | $7,612,745.31 | | 28 | $11,310,364.46 | -$2,827,591.12 | -$565,518.22 | $7,917,255.12 | | 29 | $11,762,779.04 | -$2,940,694.76 | -$588,138.95 | $8,233,945.33 | | 30 | $12,233,290.20 | -$3,058,322.55 | -$611,664.51 | $8,563,303.14 |
| Other Prizes With More Than $5,000.00 |
| 5 White Ball | 25% Federal Withholding | State Withholding | Net Payment | | $1,000,000.00 | -$250,000.00 | -$50,000.00 | $700,000.00 | 5 White Ball
with PowerPlay | 25% Federal Withholding | State Withholding | Net Payment | | $2,000,000.00 | -$500,000.00 | -$100,000.00 | $1,400,000.00 | 4 White Ball
Powerball | 25% Federal Withholding | State Withholding | Net Payment | | $10,000.00 | -$2,500.00 | -$500.00 | $7,000.00 | 4 White Ball
Powerball
with PowerPlay | 25% Federal Withholding | State Withholding | Net Payment | | $40,000.00 | -$10,000.00 | -$2,000.00 | $28,000.00 |
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More Prize Analysis for Massachusetts(MA) Powerball
| Massachusetts Powerball |
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Next Draw: Mon Mar 31, 2025
$20,000,000
Change: $-495,000,000
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