Powerball Annuity Payment Schedule

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

Current Powerball jackpot

Saturday, Nov 23, 2024

$171,000,000

Federal tax

Select your filing status.

-$41,040,000

State tax

Select your state.

-$8,208,000

Net jackpot after tax

$121,752,000

Payment schedule

Payment Number Gross Payment State Tax for AZ Federal Tax Net Payment
1 $2,573,795 $123,542 $617,711 $1,832,542
2 $2,702,485 $129,719 $648,596 $1,924,169
3 $2,837,609 $136,205 $681,026 $2,020,378
4 $2,979,490 $143,016 $715,078 $2,121,397
5 $3,128,464 $150,166 $750,831 $2,227,467
6 $3,284,888 $157,675 $788,373 $2,338,840
7 $3,449,132 $165,558 $827,792 $2,455,782
8 $3,621,589 $173,836 $869,181 $2,578,571
9 $3,802,668 $182,528 $912,640 $2,707,500
10 $3,992,801 $191,654 $958,272 $2,842,875
11 $4,192,442 $201,237 $1,006,186 $2,985,018
12 $4,402,064 $211,299 $1,056,495 $3,134,269
13 $4,622,167 $221,864 $1,109,320 $3,290,983
14 $4,853,275 $232,957 $1,164,786 $3,455,532
15 $5,095,939 $244,605 $1,223,025 $3,628,308
16 $5,350,736 $256,835 $1,284,177 $3,809,724
17 $5,618,273 $269,677 $1,348,385 $4,000,210
18 $5,899,186 $283,161 $1,415,805 $4,200,221
19 $6,194,146 $297,319 $1,486,595 $4,410,232
20 $6,503,853 $312,185 $1,560,925 $4,630,743
21 $6,829,045 $327,794 $1,638,971 $4,862,280
22 $7,170,498 $344,184 $1,720,919 $5,105,394
23 $7,529,023 $361,393 $1,806,965 $5,360,664
24 $7,905,474 $379,463 $1,897,314 $5,628,697
25 $8,300,747 $398,436 $1,992,179 $5,910,132
26 $8,715,785 $418,358 $2,091,788 $6,205,639
27 $9,151,574 $439,276 $2,196,378 $6,515,921
28 $9,609,153 $461,239 $2,306,197 $6,841,717
29 $10,089,610 $484,301 $2,421,506 $7,183,803
30 $10,594,091 $508,516 $2,542,582 $7,542,993
Total $171,000,000 $8,208,000 $41,040,000 $121,752,000

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.