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Powerball Annuity Jackpot Analysis for North Dakota

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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 North Dakota, 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:

North Dakota

Drawing Date:  Sat, Jul 26, 2014
Jackpot:$50,000,000
Federal Tax:  25%
State Tax:3.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$222,876$35,571$633,058
2$927,165$231,791$36,994$658,380
3$964,252$241,063$38,474$684,715
4$1,002,822$250,705$40,013$712,104
5$1,042,935$260,734$41,613$740,588
6$1,084,652$271,163$43,278$770,211
7$1,128,038$282,010$45,009$801,020
8$1,173,160$293,290$46,809$833,061
9$1,220,086$305,022$48,681$866,383
10$1,268,890$317,222$50,629$901,038
11$1,319,645$329,911$52,654$937,080
12$1,372,431$343,108$54,760$974,563
13$1,427,328$356,832$56,950$1,013,546
14$1,484,421$371,105$59,228$1,054,088
15$1,543,798$385,950$61,598$1,096,251
16$1,605,550$401,388$64,061$1,140,101
17$1,669,772$417,443$66,624$1,185,705
18$1,736,563$434,141$69,289$1,233,133
19$1,806,025$451,506$72,060$1,282,459
20$1,878,266$469,567$74,943$1,333,757
21$1,953,397$488,349$77,941$1,387,107
22$2,031,533$507,883$81,058$1,442,592
23$2,112,794$528,199$84,300$1,500,295
24$2,197,306$549,327$87,673$1,560,307
25$2,285,198$571,300$91,179$1,622,719
26$2,376,606$594,152$94,827$1,687,628
27$2,471,671$617,918$98,620$1,755,133
28$2,570,537$642,634$102,564$1,825,339
29$2,673,359$668,340$106,667$1,898,352
30$2,780,293$695,073$110,934$1,974,286
Total$50,000,000$12,500,000$1,995,000$35,505,000
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