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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 $60,000,000 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 28, 2016
Jackpot:$60,000,000
Federal Tax:  25%
State Tax:7.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$225,772$63,216$614,099
2$948,240$237,060$66,377$644,803
3$995,652$248,913$69,696$677,044
4$1,045,435$261,359$73,180$710,896
5$1,097,707$274,427$76,839$746,441
6$1,152,592$288,148$80,681$783,763
7$1,210,222$302,555$84,716$822,951
8$1,270,733$317,683$88,951$864,098
9$1,334,270$333,567$93,399$907,303
10$1,400,983$350,246$98,069$952,668
11$1,471,032$367,758$102,972$1,000,302
12$1,544,584$386,146$108,121$1,050,317
13$1,621,813$405,453$113,527$1,102,833
14$1,702,904$425,726$119,203$1,157,974
15$1,788,049$447,012$125,163$1,215,873
16$1,877,451$469,363$131,422$1,276,667
17$1,971,324$492,831$137,993$1,340,500
18$2,069,890$517,472$144,892$1,407,525
19$2,173,384$543,346$152,137$1,477,901
20$2,282,054$570,513$159,744$1,551,796
21$2,396,156$599,039$167,731$1,629,386
22$2,515,964$628,991$176,117$1,710,856
23$2,641,762$660,441$184,923$1,796,398
24$2,773,850$693,463$194,170$1,886,218
25$2,912,543$728,136$203,878$1,980,529
26$3,058,170$764,543$214,072$2,079,556
27$3,211,079$802,770$224,776$2,183,533
28$3,371,633$842,908$236,014$2,292,710
29$3,540,214$885,054$247,815$2,407,346
30$3,717,225$929,306$260,206$2,527,713
Total$60,000,000$15,000,000$4,200,000$40,800,000
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