Powerball Annuity Payment Schedule

Here’s how the current Powerball jackpot will be paid if the annuity option is selected.

Current Powerball Jackpot

Wednesday, Jan 26, 2022

$91,000,000

Federal Tax

Select your filing status.

-$21,840,007

State Tax

Select your state.

-$4,368,000

Net Jackpot After Tax

$64,791,993

Payment Schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $1,369,681 $65,745 $328,724 $975,212
2 $1,438,165 $69,032 $345,160 $1,023,973
3 $1,510,073 $72,483 $362,418 $1,075,172
4 $1,585,576 $76,108 $380,539 $1,128,930
5 $1,664,855 $79,913 $399,566 $1,185,377
6 $1,748,098 $83,909 $419,544 $1,244,646
7 $1,835,503 $88,104 $440,521 $1,306,878
8 $1,927,278 $92,509 $462,547 $1,372,222
9 $2,023,642 $97,135 $485,674 $1,440,833
10 $2,124,824 $101,992 $509,958 $1,512,875
11 $2,231,065 $107,091 $535,456 $1,588,518
12 $2,342,619 $112,446 $562,229 $1,667,944
13 $2,459,750 $118,068 $590,340 $1,751,341
14 $2,582,737 $123,971 $619,857 $1,838,909
15 $2,711,874 $130,170 $650,850 $1,930,854
16 $2,847,468 $136,678 $683,392 $2,027,397
17 $2,989,841 $143,512 $717,562 $2,128,767
18 $3,139,333 $150,688 $753,440 $2,235,205
19 $3,296,300 $158,222 $791,112 $2,346,965
20 $3,461,115 $166,134 $830,668 $2,464,313
21 $3,634,170 $174,440 $872,201 $2,587,529
22 $3,815,879 $183,162 $915,811 $2,716,906
23 $4,006,673 $192,320 $961,602 $2,852,751
24 $4,207,006 $201,936 $1,009,682 $2,995,388
25 $4,417,357 $212,033 $1,060,166 $3,145,158
26 $4,638,225 $222,635 $1,113,174 $3,302,416
27 $4,870,136 $233,767 $1,168,833 $3,467,537
28 $5,113,643 $245,455 $1,227,274 $3,640,913
29 $5,369,325 $257,728 $1,288,638 $3,822,959
30 $5,637,791 $270,614 $1,353,070 $4,014,107
Total $91,000,000 $4,368,000 $21,840,007 $64,791,993

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.