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Powerball Annuity Jackpot Analysis for Arizona

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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 $348,000,000 would be for a resident of Arizona, 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:

Arizona

Drawing Date:  Wed, May 4, 2016
Jackpot:$348,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$261,895$3,666,530
2$5,499,794$1,374,949$274,990$3,849,856
3$5,774,784$1,443,696$288,739$4,042,349
4$6,063,523$1,515,881$303,176$4,244,466
5$6,366,699$1,591,675$318,335$4,456,690
6$6,685,034$1,671,259$334,252$4,679,524
7$7,019,286$1,754,822$350,964$4,913,500
8$7,370,251$1,842,563$368,513$5,159,175
9$7,738,763$1,934,691$386,938$5,417,134
10$8,125,701$2,031,425$406,285$5,687,991
11$8,531,986$2,132,997$426,599$5,972,390
12$8,958,586$2,239,646$447,929$6,271,010
13$9,406,515$2,351,629$470,326$6,584,560
14$9,876,841$2,469,210$493,842$6,913,788
15$10,370,683$2,592,671$518,534$7,259,478
16$10,889,217$2,722,304$544,461$7,622,452
17$11,433,677$2,858,419$571,684$8,003,574
18$12,005,361$3,001,340$600,268$8,403,753
19$12,605,629$3,151,407$630,281$8,823,941
20$13,235,911$3,308,978$661,796$9,265,138
21$13,897,706$3,474,427$694,885$9,728,394
22$14,592,592$3,648,148$729,630$10,214,814
23$15,322,221$3,830,555$766,111$10,725,555
24$16,088,332$4,022,083$804,417$11,261,833
25$16,892,749$4,223,187$844,637$11,824,924
26$17,737,387$4,434,347$886,869$12,416,171
27$18,624,256$4,656,064$931,213$13,036,979
28$19,555,469$4,888,867$977,773$13,688,828
29$20,533,242$5,133,311$1,026,662$14,373,269
30$21,559,904$5,389,976$1,077,995$15,091,933
Total$348,000,001$87,000,000$17,400,000$243,600,000
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