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Powerball Annuity Jackpot Analysis for Arizona

For an out-of-state resident

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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 $102,000,000 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, Oct 24, 2020
Jackpot:$102,000,000
Federal Tax:  24%
State Tax:6.00% (For an out-of-state resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,535,246$368,459$92,115$1,074,672
2$1,612,009$386,882$96,721$1,128,406
3$1,692,609$406,226$101,557$1,184,826
4$1,777,240$426,538$106,634$1,244,068
5$1,866,102$447,864$111,966$1,306,271
6$1,959,407$470,258$117,564$1,371,585
7$2,057,377$493,770$123,443$1,440,164
8$2,160,246$518,459$129,615$1,512,172
9$2,268,258$544,382$136,095$1,587,781
10$2,381,671$571,601$142,900$1,667,170
11$2,500,755$600,181$150,045$1,750,528
12$2,625,792$630,190$157,548$1,838,055
13$2,757,082$661,700$165,425$1,929,957
14$2,894,936$694,785$173,696$2,026,455
15$3,039,683$729,524$182,381$2,127,778
16$3,191,667$766,000$191,500$2,234,167
17$3,351,250$804,300$201,075$2,345,875
18$3,518,813$844,515$211,129$2,463,169
19$3,694,753$886,741$221,685$2,586,327
20$3,879,491$931,078$232,769$2,715,644
21$4,073,466$977,632$244,408$2,851,426
22$4,277,139$1,026,513$256,628$2,993,997
23$4,490,996$1,077,839$269,460$3,143,697
24$4,715,546$1,131,731$282,933$3,300,882
25$4,951,323$1,188,318$297,079$3,465,926
26$5,198,889$1,247,733$311,933$3,639,222
27$5,458,834$1,310,120$327,530$3,821,184
28$5,731,775$1,375,626$343,907$4,012,243
29$6,018,364$1,444,407$361,102$4,212,855
30$6,319,282$1,516,628$379,157$4,423,498
Total$102,000,000$24,480,000$6,120,000$71,400,000
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