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Powerball Annuity Jackpot Analysis for Wisconsin

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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 $590,500,000 would be for a resident of Wisconsin, 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:

Wisconsin

Drawing Date:  Sat, May 18, 2013
Jackpot:$590,500,000
Federal Tax:  25%
State Tax:7.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,528,674$2,632,168$815,972$7,080,533
2$10,949,820$2,737,455$848,611$7,363,754
3$11,387,813$2,846,953$882,556$7,658,304
4$11,843,326$2,960,831$917,858$7,964,637
5$12,317,059$3,079,265$954,572$8,283,222
6$12,809,741$3,202,435$992,755$8,614,551
7$13,322,131$3,330,533$1,032,465$8,959,133
8$13,855,016$3,463,754$1,073,764$9,317,498
9$14,409,217$3,602,304$1,116,714$9,690,198
10$14,985,585$3,746,396$1,161,383$10,077,806
11$15,585,009$3,896,252$1,207,838$10,480,918
12$16,208,409$4,052,102$1,256,152$10,900,155
13$16,856,746$4,214,186$1,306,398$11,336,161
14$17,531,015$4,382,754$1,358,654$11,789,608
15$18,232,256$4,558,064$1,413,000$12,261,192
16$18,961,546$4,740,387$1,469,520$12,751,640
17$19,720,008$4,930,002$1,528,301$13,261,705
18$20,508,808$5,127,202$1,589,433$13,792,174
19$21,329,161$5,332,290$1,653,010$14,343,861
20$22,182,327$5,545,582$1,719,130$14,917,615
21$23,069,620$5,767,405$1,787,896$15,514,320
22$23,992,405$5,998,101$1,859,411$16,134,892
23$24,952,101$6,238,025$1,933,788$16,780,288
24$25,950,185$6,487,546$2,011,139$17,451,500
25$26,988,193$6,747,048$2,091,585$18,149,560
26$28,067,720$7,016,930$2,175,248$18,875,542
27$29,190,429$7,297,607$2,262,258$19,630,564
28$30,358,046$7,589,512$2,352,749$20,415,786
29$31,572,368$7,893,092$2,446,859$21,232,418
30$32,835,263$8,208,816$2,544,733$22,081,714
Total$590,500,000$147,625,000$45,763,750$397,111,250
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