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Powerball Annuity Jackpot Analysis for Arkansas (Nov. 3, 2018 Drawing)

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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 $53,000,000 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:  Nov. 3, 2018
Jackpot:$53,000,000
Federal Tax:  24%
State Tax:7.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$797,726$191,454$55,841$550,431
2$837,612$201,027$58,633$577,953
3$879,493$211,078$61,565$606,850
4$923,468$221,632$64,643$637,193
5$969,641$232,714$67,875$669,052
6$1,018,123$244,350$71,269$702,505
7$1,069,029$256,567$74,832$737,630
8$1,122,481$269,395$78,574$774,512
9$1,178,605$282,865$82,502$813,237
10$1,237,535$297,008$86,627$853,899
11$1,299,412$311,859$90,959$896,594
12$1,364,382$327,452$95,507$941,424
13$1,432,601$343,824$100,282$988,495
14$1,504,231$361,016$105,296$1,037,920
15$1,579,443$379,066$110,561$1,089,816
16$1,658,415$398,020$116,089$1,144,306
17$1,741,336$417,921$121,894$1,201,522
18$1,828,403$438,817$127,988$1,261,598
19$1,919,823$460,757$134,388$1,324,678
20$2,015,814$483,795$141,107$1,390,912
21$2,116,605$507,985$148,162$1,460,457
22$2,222,435$533,384$155,570$1,533,480
23$2,333,557$560,054$163,349$1,610,154
24$2,450,235$588,056$171,516$1,690,662
25$2,572,746$617,459$180,092$1,775,195
26$2,701,384$648,332$189,097$1,863,955
27$2,836,453$680,749$198,552$1,957,152
28$2,978,275$714,786$208,479$2,055,010
29$3,127,189$750,525$218,903$2,157,761
30$3,283,549$788,052$229,848$2,265,649
Total$53,000,000$12,720,000$3,710,000$36,570,000
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