Powerball Annuity Payment Schedule
Here's how the current Powerball jackpot will be paid if the annuity option is selected.
Current Powerball jackpot
Monday, Jan 13, 2025
$285,000,000
Federal tax
Select your filing status.
-$68,400,000State tax
Select your state.
-$13,680,000Net jackpot after tax
$202,920,000
|
Payment Number |
Gross Payment |
State Tax for AZ |
Federal Tax |
Net Payment |
|---|---|---|---|---|
| 1 | $4,289,659 | $205,904 | $1,029,518 | $3,054,237 |
| 2 | $4,504,142 | $216,199 | $1,080,994 | $3,206,949 |
| 3 | $4,729,349 | $227,009 | $1,135,044 | $3,367,297 |
| 4 | $4,965,817 | $238,359 | $1,191,796 | $3,535,661 |
| 5 | $5,214,107 | $250,277 | $1,251,386 | $3,712,444 |
| 6 | $5,474,813 | $262,791 | $1,313,955 | $3,898,067 |
| 7 | $5,748,553 | $275,931 | $1,379,653 | $4,092,970 |
| 8 | $6,035,981 | $289,727 | $1,448,635 | $4,297,618 |
| 9 | $6,337,780 | $304,213 | $1,521,067 | $4,512,499 |
| 10 | $6,654,669 | $319,424 | $1,597,121 | $4,738,124 |
| 11 | $6,987,403 | $335,395 | $1,676,977 | $4,975,031 |
| 12 | $7,336,773 | $352,165 | $1,760,825 | $5,223,782 |
| 13 | $7,703,611 | $369,773 | $1,848,867 | $5,484,971 |
| 14 | $8,088,792 | $388,262 | $1,941,310 | $5,759,220 |
| 15 | $8,493,231 | $407,675 | $2,038,376 | $6,047,181 |
| 16 | $8,917,893 | $428,059 | $2,140,294 | $6,349,540 |
| 17 | $9,363,788 | $449,462 | $2,247,309 | $6,667,017 |
| 18 | $9,831,977 | $471,935 | $2,359,674 | $7,000,368 |
| 19 | $10,323,576 | $495,532 | $2,477,658 | $7,350,386 |
| 20 | $10,839,755 | $520,308 | $2,601,541 | $7,717,905 |
| 21 | $11,381,742 | $546,324 | $2,731,618 | $8,103,801 |
| 22 | $11,950,830 | $573,640 | $2,868,199 | $8,508,991 |
| 23 | $12,548,371 | $602,322 | $3,011,609 | $8,934,440 |
| 24 | $13,175,790 | $632,438 | $3,162,189 | $9,381,162 |
| 25 | $13,834,579 | $664,060 | $3,320,299 | $9,850,220 |
| 26 | $14,526,308 | $697,263 | $3,486,314 | $10,342,731 |
| 27 | $15,252,623 | $732,126 | $3,660,630 | $10,859,868 |
| 28 | $16,015,255 | $768,732 | $3,843,661 | $11,402,861 |
| 29 | $16,816,017 | $807,169 | $4,035,844 | $11,973,004 |
| 30 | $17,656,818 | $847,527 | $4,237,636 | $12,571,654 |
| Total | $285,000,000 | $13,680,000 | $68,400,000 | $202,920,000 |
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.
