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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 $40,000,000 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:  Wed, Jul 23, 2014
Jackpot:$40,000,000
Federal Tax:  25%
State Tax:7.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$713,204$178,301$55,273$479,630
2$741,732$185,433$57,484$498,815
3$771,401$192,850$59,784$518,767
4$802,257$200,564$62,175$539,518
5$834,348$208,587$64,662$561,099
6$867,722$216,930$67,248$583,543
7$902,431$225,608$69,938$606,885
8$938,528$234,632$72,736$631,160
9$976,069$244,017$75,645$656,406
10$1,015,112$253,778$78,671$682,663
11$1,055,716$263,929$81,818$709,969
12$1,097,945$274,486$85,091$738,368
13$1,141,863$285,466$88,494$767,903
14$1,187,537$296,884$92,034$798,619
15$1,235,039$308,760$95,715$830,563
16$1,284,440$321,110$99,544$863,786
17$1,335,818$333,954$103,526$898,337
18$1,389,250$347,313$107,667$934,271
19$1,444,820$361,205$111,974$971,642
20$1,502,613$375,653$116,453$1,010,507
21$1,562,718$390,679$121,111$1,050,928
22$1,625,226$406,307$125,955$1,092,965
23$1,690,235$422,559$130,993$1,136,683
24$1,757,845$439,461$136,233$1,182,151
25$1,828,159$457,040$141,682$1,229,437
26$1,901,285$475,321$147,350$1,278,614
27$1,977,336$494,334$153,244$1,329,759
28$2,056,430$514,107$159,373$1,382,949
29$2,138,687$534,672$165,748$1,438,267
30$2,224,235$556,059$172,378$1,495,798
Total$40,000,000$10,000,000$3,100,000$26,900,000
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