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Powerball Annuity Jackpot Analysis for Nebraska

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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 $70,000,000 would be for a resident of Nebraska, 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:

Nebraska

Drawing Date:  Sat, Aug 2, 2014
Jackpot:$70,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,248,107$312,027$62,405$873,675
2$1,298,031$324,508$64,902$908,622
3$1,349,952$337,488$67,498$944,967
4$1,403,951$350,988$70,198$982,765
5$1,460,109$365,027$73,005$1,022,076
6$1,518,513$379,628$75,926$1,062,959
7$1,579,253$394,813$78,963$1,105,477
8$1,642,424$410,606$82,121$1,149,697
9$1,708,121$427,030$85,406$1,195,684
10$1,776,445$444,111$88,822$1,243,512
11$1,847,503$461,876$92,375$1,293,252
12$1,921,403$480,351$96,070$1,344,982
13$1,998,259$499,565$99,913$1,398,782
14$2,078,190$519,547$103,909$1,454,733
15$2,161,317$540,329$108,066$1,512,922
16$2,247,770$561,943$112,389$1,573,439
17$2,337,681$584,420$116,884$1,636,377
18$2,431,188$607,797$121,559$1,701,832
19$2,528,436$632,109$126,422$1,769,905
20$2,629,573$657,393$131,479$1,840,701
21$2,734,756$683,689$136,738$1,914,329
22$2,844,146$711,037$142,207$1,990,902
23$2,957,912$739,478$147,896$2,070,538
24$3,076,229$769,057$153,811$2,153,360
25$3,199,278$799,819$159,964$2,239,494
26$3,327,249$831,812$166,362$2,329,074
27$3,460,339$865,085$173,017$2,422,237
28$3,598,752$899,688$179,938$2,519,127
29$3,742,702$935,676$187,135$2,619,892
30$3,892,411$973,103$194,621$2,724,687
Total$70,000,000$17,500,000$3,500,000$49,000,000
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