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Powerball Annuity Jackpot Analysis for Arkansas

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $60,000,000 would be for a resident of Arkansas, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Arkansas

Drawing Date:  Wed, Jul 30, 2014
Jackpot:$60,000,000
Federal Tax:  25%
State Tax:7.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$267,451$74,886$727,468
2$1,112,598$278,150$77,882$756,567
3$1,157,102$289,276$80,997$786,829
4$1,203,386$300,847$84,237$818,303
5$1,251,522$312,880$87,607$851,035
6$1,301,583$325,396$91,111$885,076
7$1,353,646$338,411$94,755$920,479
8$1,407,792$351,948$98,545$957,298
9$1,464,103$366,026$102,487$995,590
10$1,522,667$380,667$106,587$1,035,414
11$1,583,574$395,894$110,850$1,076,830
12$1,646,917$411,729$115,284$1,119,904
13$1,712,794$428,198$119,896$1,164,700
14$1,781,306$445,326$124,691$1,211,288
15$1,852,558$463,139$129,679$1,259,739
16$1,926,660$481,665$134,866$1,310,129
17$2,003,726$500,932$140,261$1,362,534
18$2,083,876$520,969$145,871$1,417,035
19$2,167,231$541,808$151,706$1,473,717
20$2,253,920$563,480$157,774$1,532,665
21$2,344,077$586,019$164,085$1,593,972
22$2,437,840$609,460$170,649$1,657,731
23$2,535,353$633,838$177,475$1,724,040
24$2,636,767$659,192$184,574$1,793,002
25$2,742,238$685,560$191,957$1,864,722
26$2,851,928$712,982$199,635$1,939,311
27$2,966,005$741,501$207,620$2,016,883
28$3,084,645$771,161$215,925$2,097,559
29$3,208,031$802,008$224,562$2,181,461
30$3,336,352$834,088$233,545$2,268,719
Total$60,000,000$15,000,000$4,200,000$40,800,000
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