Powerball Annuity Payment Schedule
Here's how the current Powerball jackpot will be paid if the annuity option is selected.
Current Powerball jackpot
Saturday, Feb 15, 2025
$172,000,000
Federal tax
Select your filing status.
-$41,280,000State tax
Select your state.
-$8,256,000Net jackpot after tax
$122,464,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $2,588,847 | $124,265 | $621,323 | $1,843,259 |
| 2 | $2,718,289 | $130,478 | $652,389 | $1,935,422 |
| 3 | $2,854,204 | $137,002 | $685,009 | $2,032,193 |
| 4 | $2,996,914 | $143,852 | $719,259 | $2,133,803 |
| 5 | $3,146,760 | $151,044 | $755,222 | $2,240,493 |
| 6 | $3,304,097 | $158,597 | $792,983 | $2,352,517 |
| 7 | $3,469,302 | $166,527 | $832,633 | $2,470,143 |
| 8 | $3,642,767 | $174,853 | $874,264 | $2,593,650 |
| 9 | $3,824,906 | $183,595 | $917,977 | $2,723,333 |
| 10 | $4,016,151 | $192,775 | $963,876 | $2,859,500 |
| 11 | $4,216,959 | $202,414 | $1,012,070 | $3,002,475 |
| 12 | $4,427,807 | $212,535 | $1,062,674 | $3,152,598 |
| 13 | $4,649,197 | $223,161 | $1,115,807 | $3,310,228 |
| 14 | $4,881,657 | $234,320 | $1,171,598 | $3,475,740 |
| 15 | $5,125,740 | $246,036 | $1,230,178 | $3,649,527 |
| 16 | $5,382,027 | $258,337 | $1,291,686 | $3,832,003 |
| 17 | $5,651,128 | $271,254 | $1,356,271 | $4,023,603 |
| 18 | $5,933,684 | $284,817 | $1,424,084 | $4,224,783 |
| 19 | $6,230,369 | $299,058 | $1,495,288 | $4,436,022 |
| 20 | $6,541,887 | $314,011 | $1,570,053 | $4,657,824 |
| 21 | $6,868,981 | $329,711 | $1,648,556 | $4,890,715 |
| 22 | $7,212,430 | $346,197 | $1,730,983 | $5,135,250 |
| 23 | $7,573,052 | $363,506 | $1,817,532 | $5,392,013 |
| 24 | $7,951,705 | $381,682 | $1,908,409 | $5,661,614 |
| 25 | $8,349,290 | $400,766 | $2,003,830 | $5,944,694 |
| 26 | $8,766,754 | $420,804 | $2,104,021 | $6,241,929 |
| 27 | $9,205,092 | $441,844 | $2,209,222 | $6,554,025 |
| 28 | $9,665,347 | $463,937 | $2,319,683 | $6,881,727 |
| 29 | $10,148,614 | $487,133 | $2,435,667 | $7,225,813 |
| 30 | $10,656,045 | $511,490 | $2,557,451 | $7,587,104 |
| Total | $172,000,000 | $8,256,000 | $41,280,000 | $122,464,000 |
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.
