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Powerball Annuity Jackpot Analysis for Oregon

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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 Oregon, 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:

Oregon

Drawing Date:  Sat, Aug 2, 2014
Jackpot:$70,000,000
Federal Tax:  25%
State Tax:8.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,248,107$312,027$99,849$836,232
2$1,298,031$324,508$103,842$869,681
3$1,349,952$337,488$107,996$904,468
4$1,403,951$350,988$112,316$940,647
5$1,460,109$365,027$116,809$978,273
6$1,518,513$379,628$121,481$1,017,404
7$1,579,253$394,813$126,340$1,058,100
8$1,642,424$410,606$131,394$1,100,424
9$1,708,121$427,030$136,650$1,144,441
10$1,776,445$444,111$142,116$1,190,218
11$1,847,503$461,876$147,800$1,237,827
12$1,921,403$480,351$153,712$1,287,340
13$1,998,259$499,565$159,861$1,338,834
14$2,078,190$519,547$166,255$1,392,387
15$2,161,317$540,329$172,905$1,448,083
16$2,247,770$561,943$179,822$1,506,006
17$2,337,681$584,420$187,014$1,566,246
18$2,431,188$607,797$194,495$1,628,896
19$2,528,436$632,109$202,275$1,694,052
20$2,629,573$657,393$210,366$1,761,814
21$2,734,756$683,689$218,780$1,832,287
22$2,844,146$711,037$227,532$1,905,578
23$2,957,912$739,478$236,633$1,981,801
24$3,076,229$769,057$246,098$2,061,073
25$3,199,278$799,819$255,942$2,143,516
26$3,327,249$831,812$266,180$2,229,257
27$3,460,339$865,085$276,827$2,318,427
28$3,598,752$899,688$287,900$2,411,164
29$3,742,702$935,676$299,416$2,507,611
30$3,892,411$973,103$311,393$2,607,915
Total$70,000,000$17,500,000$5,600,000$46,900,000
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