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Powerball Annuity Jackpot Analysis for Montana

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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 $50,000,000 would be for a resident of Montana, 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:

Montana

Drawing Date:  Sat, Jul 26, 2014
Jackpot:$50,000,000
Federal Tax:  25%
State Tax:6.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$222,876$61,514$607,115
2$927,165$231,791$63,974$631,399
3$964,252$241,063$66,533$656,655
4$1,002,822$250,705$69,195$682,922
5$1,042,935$260,734$71,962$710,239
6$1,084,652$271,163$74,841$738,648
7$1,128,038$282,010$77,835$768,194
8$1,173,160$293,290$80,948$798,922
9$1,220,086$305,022$84,186$830,879
10$1,268,890$317,222$87,553$864,114
11$1,319,645$329,911$91,056$898,678
12$1,372,431$343,108$94,698$934,625
13$1,427,328$356,832$98,486$972,010
14$1,484,421$371,105$102,425$1,010,891
15$1,543,798$385,950$106,522$1,051,327
16$1,605,550$401,388$110,783$1,093,380
17$1,669,772$417,443$115,214$1,137,115
18$1,736,563$434,141$119,823$1,182,599
19$1,806,025$451,506$124,616$1,229,903
20$1,878,266$469,567$129,600$1,279,099
21$1,953,397$488,349$134,784$1,330,263
22$2,031,533$507,883$140,176$1,383,474
23$2,112,794$528,199$145,783$1,438,813
24$2,197,306$549,327$151,614$1,496,365
25$2,285,198$571,300$157,679$1,556,220
26$2,376,606$594,152$163,986$1,618,469
27$2,471,671$617,918$170,545$1,683,208
28$2,570,537$642,634$177,367$1,750,536
29$2,673,359$668,340$184,462$1,820,557
30$2,780,293$695,073$191,840$1,893,380
Total$50,000,000$12,500,000$3,450,000$34,050,000
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