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Powerball Annuity Jackpot Analysis for Arkansas

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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 $120,000,000 would be for a resident of Arkansas, 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:

Arkansas

Drawing Date:  Wed, Sep 2, 2015
Jackpot:$120,000,000
Federal Tax:  25%
State Tax:7.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,139,612$534,903$149,773$1,454,936
2$2,225,196$556,299$155,764$1,513,134
3$2,314,204$578,551$161,994$1,573,659
4$2,406,772$601,693$168,474$1,636,605
5$2,503,043$625,761$175,213$1,702,069
6$2,603,165$650,791$182,222$1,770,152
7$2,707,292$676,823$189,510$1,840,958
8$2,815,583$703,896$197,091$1,914,597
9$2,928,207$732,052$204,974$1,991,181
10$3,045,335$761,334$213,173$2,070,828
11$3,167,148$791,787$221,700$2,153,661
12$3,293,834$823,459$230,568$2,239,807
13$3,425,588$856,397$239,791$2,329,400
14$3,562,611$890,653$249,383$2,422,576
15$3,705,116$926,279$259,358$2,519,479
16$3,853,320$963,330$269,732$2,620,258
17$4,007,453$1,001,863$280,522$2,725,068
18$4,167,751$1,041,938$291,743$2,834,071
19$4,334,461$1,083,615$303,412$2,947,434
20$4,507,840$1,126,960$315,549$3,065,331
21$4,688,153$1,172,038$328,171$3,187,944
22$4,875,679$1,218,920$341,298$3,315,462
23$5,070,706$1,267,677$354,949$3,448,080
24$5,273,535$1,318,384$369,147$3,586,004
25$5,484,476$1,371,119$383,913$3,729,444
26$5,703,855$1,425,964$399,270$3,878,621
27$5,932,009$1,483,002$415,241$4,033,766
28$6,169,290$1,542,322$431,850$4,195,117
29$6,416,061$1,604,015$449,124$4,362,922
30$6,672,704$1,668,176$467,089$4,537,439
Total$120,000,000$30,000,000$8,400,000$81,600,000
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