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Powerball Annuity Jackpot Analysis for Louisiana

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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 $110,000,000 would be for a resident of Louisiana, 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:

Louisiana

Drawing Date:  Wed, Apr 16, 2014
Jackpot:$110,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,961,311$490,328$98,066$1,372,918
2$2,039,763$509,941$101,988$1,427,834
3$2,121,354$530,338$106,068$1,484,948
4$2,206,208$551,552$110,310$1,544,346
5$2,294,456$573,614$114,723$1,606,119
6$2,386,235$596,559$119,312$1,670,364
7$2,481,684$620,421$124,084$1,737,179
8$2,580,951$645,238$129,048$1,806,666
9$2,684,189$671,047$134,209$1,878,933
10$2,791,557$697,889$139,578$1,954,090
11$2,903,219$725,805$145,161$2,032,253
12$3,019,348$754,837$150,967$2,113,544
13$3,140,122$785,030$157,006$2,198,085
14$3,265,727$816,432$163,286$2,286,009
15$3,396,356$849,089$169,818$2,377,449
16$3,532,210$883,053$176,611$2,472,547
17$3,673,499$918,375$183,675$2,571,449
18$3,820,438$955,110$191,022$2,674,307
19$3,973,256$993,314$198,663$2,781,279
20$4,132,186$1,033,047$206,609$2,892,530
21$4,297,474$1,074,368$214,874$3,008,232
22$4,469,373$1,117,343$223,469$3,128,561
23$4,648,148$1,162,037$232,407$3,253,703
24$4,834,073$1,208,518$241,704$3,383,851
25$5,027,436$1,256,859$251,372$3,519,205
26$5,228,534$1,307,133$261,427$3,659,974
27$5,437,675$1,359,419$271,884$3,806,373
28$5,655,182$1,413,796$282,759$3,958,628
29$5,881,390$1,470,347$294,069$4,116,973
30$6,116,645$1,529,161$305,832$4,281,652
Total$110,000,000$27,500,000$5,500,000$77,000,000
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