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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 $127,000,000 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:  Sat, Oct 31, 2020
Jackpot:$127,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,911,532$458,768$133,807$1,318,957
2$2,007,109$481,706$140,498$1,384,905
3$2,107,464$505,791$147,523$1,454,150
4$2,212,838$531,081$154,899$1,526,858
5$2,323,479$557,635$162,644$1,603,201
6$2,439,653$585,517$170,776$1,683,361
7$2,561,636$614,793$179,315$1,767,529
8$2,689,718$645,532$188,280$1,855,905
9$2,824,204$677,809$197,694$1,948,701
10$2,965,414$711,699$207,579$2,046,136
11$3,113,685$747,284$217,958$2,148,442
12$3,269,369$784,649$228,856$2,255,865
13$3,432,837$823,881$240,299$2,368,658
14$3,604,479$865,075$252,314$2,487,091
15$3,784,703$908,329$264,929$2,611,445
16$3,973,938$953,745$278,176$2,742,017
17$4,172,635$1,001,432$292,084$2,879,118
18$4,381,267$1,051,504$306,689$3,023,074
19$4,600,330$1,104,079$322,023$3,174,228
20$4,830,347$1,159,283$338,124$3,332,939
21$5,071,864$1,217,247$355,030$3,499,586
22$5,325,457$1,278,110$372,782$3,674,566
23$5,591,730$1,342,015$391,421$3,858,294
24$5,871,317$1,409,116$410,992$4,051,209
25$6,164,883$1,479,572$431,542$4,253,769
26$6,473,127$1,553,550$453,119$4,466,457
27$6,796,783$1,631,228$475,775$4,689,780
28$7,136,622$1,712,789$499,564$4,924,269
29$7,493,453$1,798,429$524,542$5,170,483
30$7,868,126$1,888,350$550,769$5,429,007
Total$127,000,000$30,480,000$8,890,000$87,630,000
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