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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 $138,000,000 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:  Sat, May 23, 2015
Jackpot:$138,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,460,554$615,138$123,028$1,722,388
2$2,558,976$639,744$127,949$1,791,283
3$2,661,335$665,334$133,067$1,862,934
4$2,767,788$691,947$138,389$1,937,452
5$2,878,500$719,625$143,925$2,014,950
6$2,993,640$748,410$149,682$2,095,548
7$3,113,385$778,346$155,669$2,179,370
8$3,237,921$809,480$161,896$2,266,545
9$3,367,438$841,859$168,372$2,357,206
10$3,502,135$875,534$175,107$2,451,495
11$3,642,221$910,555$182,111$2,549,554
12$3,787,909$946,977$189,395$2,651,537
13$3,939,426$984,856$196,971$2,757,598
14$4,097,003$1,024,251$204,850$2,867,902
15$4,260,883$1,065,221$213,044$2,982,618
16$4,431,318$1,107,830$221,566$3,101,923
17$4,608,571$1,152,143$230,429$3,226,000
18$4,792,914$1,198,228$239,646$3,355,040
19$4,984,630$1,246,158$249,232$3,489,241
20$5,184,015$1,296,004$259,201$3,628,811
21$5,391,376$1,347,844$269,569$3,773,963
22$5,607,031$1,401,758$280,352$3,924,922
23$5,831,312$1,457,828$291,566$4,081,919
24$6,064,565$1,516,141$303,228$4,245,195
25$6,307,147$1,576,787$315,357$4,415,003
26$6,559,433$1,639,858$327,972$4,591,603
27$6,821,811$1,705,453$341,091$4,775,268
28$7,094,683$1,773,671$354,734$4,966,278
29$7,378,470$1,844,618$368,924$5,164,929
30$7,673,609$1,918,402$383,680$5,371,527
Total$138,000,000$34,500,000$6,900,000$96,600,000
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