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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 $90,000,000 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, Mar 4, 2015
Jackpot:$90,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,604,709$401,177$80,235$1,123,296
2$1,668,897$417,224$83,445$1,168,228
3$1,735,653$433,913$86,783$1,214,957
4$1,805,079$451,270$90,254$1,263,556
5$1,877,282$469,321$93,864$1,314,098
6$1,952,374$488,093$97,619$1,366,662
7$2,030,469$507,617$101,523$1,421,328
8$2,111,687$527,922$105,584$1,478,181
9$2,196,155$549,039$109,808$1,537,308
10$2,284,001$571,000$114,200$1,598,801
11$2,375,361$593,840$118,768$1,662,753
12$2,470,376$617,594$123,519$1,729,263
13$2,569,191$642,298$128,460$1,798,433
14$2,671,958$667,990$133,598$1,870,371
15$2,778,837$694,709$138,942$1,945,186
16$2,889,990$722,498$144,500$2,022,993
17$3,005,590$751,397$150,279$2,103,913
18$3,125,813$781,453$156,291$2,188,069
19$3,250,846$812,711$162,542$2,275,592
20$3,380,880$845,220$169,044$2,366,616
21$3,516,115$879,029$175,806$2,461,280
22$3,656,759$914,190$182,838$2,559,732
23$3,803,030$950,757$190,151$2,662,121
24$3,955,151$988,788$197,758$2,768,606
25$4,113,357$1,028,339$205,668$2,879,350
26$4,277,891$1,069,473$213,895$2,994,524
27$4,449,007$1,112,252$222,450$3,114,305
28$4,626,967$1,156,742$231,348$3,238,877
29$4,812,046$1,203,011$240,602$3,368,432
30$5,004,528$1,251,132$250,226$3,503,169
Total$90,000,000$22,500,000$4,500,000$63,000,000
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