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Powerball Annuity Jackpot Analysis for Kansas (Nov. 4, 2009 Drawing)

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $66,000,000 would be for a resident of Kansas, 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:	Kansas
Drawing Date:	Nov. 4, 2009
Jackpot:	$66,000,000
Federal Tax:	25%
State Tax:	5.00%
Report:	Powerball annuity payout schedule (30 annual payments)

Year	Gross Payment	Federal Taxes	State Taxes	Net Payment
1	$1,176,787	$294,197	$58,839	$823,751
2	$1,223,858	$305,965	$61,193	$856,701
3	$1,272,812	$318,203	$63,641	$890,969
4	$1,323,725	$330,931	$66,186	$926,607
5	$1,376,674	$344,168	$68,834	$963,672
6	$1,431,741	$357,935	$71,587	$1,002,219
7	$1,489,010	$372,253	$74,451	$1,042,307
8	$1,548,571	$387,143	$77,429	$1,084,000
9	$1,610,514	$402,628	$80,526	$1,127,360
10	$1,674,934	$418,734	$83,747	$1,172,454
11	$1,741,932	$435,483	$87,097	$1,219,352
12	$1,811,609	$452,902	$90,580	$1,268,126
13	$1,884,073	$471,018	$94,204	$1,318,851
14	$1,959,436	$489,859	$97,972	$1,371,605
15	$2,037,814	$509,453	$101,891	$1,426,469
16	$2,119,326	$529,832	$105,966	$1,483,528
17	$2,204,099	$551,025	$110,205	$1,542,869
18	$2,292,263	$573,066	$114,613	$1,604,584
19	$2,383,954	$595,988	$119,198	$1,668,768
20	$2,479,312	$619,828	$123,966	$1,735,518
21	$2,578,484	$644,621	$128,924	$1,804,939
22	$2,681,624	$670,406	$134,081	$1,877,137
23	$2,788,889	$697,222	$139,444	$1,952,222
24	$2,900,444	$725,111	$145,022	$2,030,311
25	$3,016,462	$754,115	$150,823	$2,111,523
26	$3,137,120	$784,280	$156,856	$2,195,984
27	$3,262,605	$815,651	$163,130	$2,283,824
28	$3,393,109	$848,277	$169,655	$2,375,177
29	$3,528,834	$882,208	$176,442	$2,470,184
30	$3,669,987	$917,497	$183,499	$2,568,991
Total	$66,000,000	$16,500,000	$3,300,000	$46,200,000

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