Powerball Annuity Payment Schedule
Here's how the current Powerball jackpot will be paid if the annuity option is selected.
Current Powerball jackpot
Saturday, Jan 18, 2025
$331,000,000
Federal tax
Select your filing status.
-$79,440,000State tax
Select your state.
-$15,888,000Net jackpot after tax
$235,672,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $4,982,025 | $239,137 | $1,195,686 | $3,547,202 |
| 2 | $5,231,126 | $251,094 | $1,255,470 | $3,724,562 |
| 3 | $5,492,683 | $263,649 | $1,318,244 | $3,910,790 |
| 4 | $5,767,317 | $276,831 | $1,384,156 | $4,106,329 |
| 5 | $6,055,683 | $290,673 | $1,453,364 | $4,311,646 |
| 6 | $6,358,467 | $305,206 | $1,526,032 | $4,527,228 |
| 7 | $6,676,390 | $320,467 | $1,602,334 | $4,753,590 |
| 8 | $7,010,210 | $336,490 | $1,682,450 | $4,991,269 |
| 9 | $7,360,720 | $353,315 | $1,766,573 | $5,240,833 |
| 10 | $7,728,756 | $370,980 | $1,854,901 | $5,502,874 |
| 11 | $8,115,194 | $389,529 | $1,947,647 | $5,778,018 |
| 12 | $8,520,953 | $409,006 | $2,045,029 | $6,066,919 |
| 13 | $8,947,001 | $429,456 | $2,147,280 | $6,370,265 |
| 14 | $9,394,351 | $450,929 | $2,254,644 | $6,688,778 |
| 15 | $9,864,069 | $473,475 | $2,367,377 | $7,023,217 |
| 16 | $10,357,272 | $497,149 | $2,485,745 | $7,374,378 |
| 17 | $10,875,136 | $522,007 | $2,610,033 | $7,743,097 |
| 18 | $11,418,893 | $548,107 | $2,740,534 | $8,130,252 |
| 19 | $11,989,837 | $575,512 | $2,877,561 | $8,536,764 |
| 20 | $12,589,329 | $604,288 | $3,021,439 | $8,963,602 |
| 21 | $13,218,796 | $634,502 | $3,172,511 | $9,411,782 |
| 22 | $13,879,735 | $666,227 | $3,331,136 | $9,882,372 |
| 23 | $14,573,722 | $699,539 | $3,497,693 | $10,376,490 |
| 24 | $15,302,408 | $734,516 | $3,672,578 | $10,895,315 |
| 25 | $16,067,529 | $771,241 | $3,856,207 | $11,440,080 |
| 26 | $16,870,905 | $809,803 | $4,049,017 | $12,012,084 |
| 27 | $17,714,450 | $850,294 | $4,251,468 | $12,612,689 |
| 28 | $18,600,173 | $892,808 | $4,464,041 | $13,243,323 |
| 29 | $19,530,181 | $937,449 | $4,687,244 | $13,905,489 |
| 30 | $20,506,691 | $984,321 | $4,921,606 | $14,600,764 |
| Total | $331,000,000 | $15,888,000 | $79,440,000 | $235,672,000 |
Notes
- Each annual annuity payment increases by 5% from the previous year.
- For clarity, we assumed that payments 1 and 2 are made in separate tax years.
- The lottery automatically withholds 24% of each payment for federal taxes. When you file your taxes, you will be responsible for the difference between that withholding and what you owe to the IRS.
- In some states, the lottery also withholds a portion of annual payments for state taxes.
- The highest federal tax bracket of 37% is assumed for these examples because all Powerball jackpot winners will fall into this category.
- Tax estimates are based on jackpot income only and do not include any other taxes you may owe.
- We assume single state residency only and do not consider non-state resident tax. In the situation when the winner resides in a different state than the one where the winnings were registered, additional state taxes may be added.
- This calculator is intended to provide an estimate of taxes, but should not be considered tax advice. We do not take responsibility for any inaccuracies or omissions.
- Consult with a professional tax advisor and accountant to avoid any surprise tax bills.
- Federal and/or state tax rates may change during the annuity schedule, which could affect how much you owe.
