Powerball Annuity Payment Schedule

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

Current Powerball Jackpot

Wednesday, Sep 29, 2021

$570,000,000

Federal Tax

Select your filing status.

-$136,800,007

State Tax

Select your state.

-$27,360,000

Net Jackpot After Tax

$405,839,993

Payment Schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $8,579,318 $411,807 $2,059,037 $6,108,474
2 $9,008,284 $432,398 $2,161,988 $6,413,898
3 $9,458,698 $454,018 $2,270,088 $6,734,593
4 $9,931,633 $476,718 $2,383,592 $7,071,322
5 $10,428,215 $500,554 $2,502,772 $7,424,889
6 $10,949,625 $525,582 $2,627,910 $7,796,133
7 $11,497,107 $551,861 $2,759,306 $8,185,940
8 $12,071,962 $579,454 $2,897,271 $8,595,237
9 $12,675,560 $608,427 $3,042,135 $9,024,999
10 $13,309,338 $638,848 $3,194,241 $9,476,248
11 $13,974,805 $670,791 $3,353,953 $9,950,061
12 $14,673,545 $704,330 $3,521,651 $10,447,564
13 $15,407,223 $739,547 $3,697,734 $10,969,942
14 $16,177,584 $776,524 $3,882,620 $11,518,439
15 $16,986,463 $815,350 $4,076,751 $12,094,361
16 $17,835,786 $856,118 $4,280,589 $12,699,079
17 $18,727,575 $898,924 $4,494,618 $13,334,033
18 $19,663,954 $943,870 $4,719,349 $14,000,735
19 $20,647,152 $991,063 $4,955,317 $14,700,772
20 $21,679,509 $1,040,616 $5,203,082 $15,435,810
21 $22,763,485 $1,092,647 $5,463,237 $16,207,601
22 $23,901,659 $1,147,280 $5,736,398 $17,017,981
23 $25,096,742 $1,204,644 $6,023,218 $17,868,880
24 $26,351,579 $1,264,876 $6,324,379 $18,762,324
25 $27,669,158 $1,328,120 $6,640,598 $19,700,440
26 $29,052,616 $1,394,526 $6,972,628 $20,685,462
27 $30,505,247 $1,464,252 $7,321,259 $21,719,735
28 $32,030,509 $1,537,464 $7,687,322 $22,805,722
29 $33,632,035 $1,614,338 $8,071,689 $23,946,008
30 $35,313,636 $1,695,055 $8,475,273 $25,143,309
Total $570,000,000 $27,360,000 $136,800,007 $405,839,993

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.