Powerball Annuity Payment Schedule

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

Current Powerball jackpot

Saturday, Apr 27, 2024

$149,000,000

Federal tax

Select your filing status.

-$35,760,000

State tax

Select your state.

-$7,152,000

Net jackpot after tax

$106,088,000

Payment schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $2,242,664 $107,648 $538,239 $1,596,777
2 $2,354,797 $113,030 $565,151 $1,676,615
3 $2,472,537 $118,682 $593,409 $1,760,446
4 $2,596,164 $124,616 $623,079 $1,848,469
5 $2,725,972 $130,847 $654,233 $1,940,892
6 $2,862,270 $137,389 $686,945 $2,037,937
7 $3,005,384 $144,258 $721,292 $2,139,833
8 $3,155,653 $151,471 $757,357 $2,246,825
9 $3,313,436 $159,045 $795,225 $2,359,166
10 $3,479,108 $166,997 $834,986 $2,477,125
11 $3,653,063 $175,347 $876,735 $2,600,981
12 $3,835,716 $184,114 $920,572 $2,731,030
13 $4,027,502 $193,320 $966,600 $2,867,581
14 $4,228,877 $202,986 $1,014,931 $3,010,961
15 $4,440,321 $213,135 $1,065,677 $3,161,509
16 $4,662,337 $223,792 $1,118,961 $3,319,584
17 $4,895,454 $234,982 $1,174,909 $3,485,563
18 $5,140,227 $246,731 $1,233,654 $3,659,841
19 $5,397,238 $259,067 $1,295,337 $3,842,833
20 $5,667,100 $272,021 $1,360,104 $4,034,975
21 $5,950,455 $285,622 $1,428,109 $4,236,724
22 $6,247,978 $299,903 $1,499,515 $4,448,560
23 $6,560,376 $314,898 $1,574,490 $4,670,988
24 $6,888,395 $330,643 $1,653,215 $4,904,537
25 $7,232,815 $347,175 $1,735,876 $5,149,764
26 $7,594,456 $364,534 $1,822,669 $5,407,252
27 $7,974,179 $382,761 $1,913,803 $5,677,615
28 $8,372,887 $401,899 $2,009,493 $5,961,496
29 $8,791,532 $421,994 $2,109,968 $6,259,571
30 $9,231,108 $443,093 $2,215,466 $6,572,549
Total $149,000,000 $7,152,000 $35,760,000 $106,088,000

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.