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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 $304,000,000 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, Feb 23, 2019
Jackpot:$304,000,000
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$4,575,636$1,098,153$274,538$3,202,945
2$4,804,418$1,153,060$288,265$3,363,093
3$5,044,639$1,210,713$302,678$3,531,247
4$5,296,871$1,271,249$317,812$3,707,810
5$5,561,714$1,334,811$333,703$3,893,200
6$5,839,800$1,401,552$350,388$4,087,860
7$6,131,790$1,471,630$367,907$4,292,253
8$6,438,380$1,545,211$386,303$4,506,866
9$6,760,299$1,622,472$405,618$4,732,209
10$7,098,314$1,703,595$425,899$4,968,820
11$7,453,229$1,788,775$447,194$5,217,261
12$7,825,891$1,878,214$469,553$5,478,124
13$8,217,185$1,972,124$493,031$5,752,030
14$8,628,045$2,070,731$517,683$6,039,631
15$9,059,447$2,174,267$543,567$6,341,613
16$9,512,419$2,282,981$570,745$6,658,694
17$9,988,040$2,397,130$599,282$6,991,628
18$10,487,442$2,516,986$629,247$7,341,210
19$11,011,814$2,642,835$660,709$7,708,270
20$11,562,405$2,774,977$693,744$8,093,684
21$12,140,525$2,913,726$728,432$8,498,368
22$12,747,551$3,059,412$764,853$8,923,286
23$13,384,929$3,212,383$803,096$9,369,450
24$14,054,175$3,373,002$843,251$9,837,923
25$14,756,884$3,541,652$885,413$10,329,819
26$15,494,729$3,718,735$929,684$10,846,310
27$16,269,465$3,904,672$976,168$11,388,626
28$17,082,938$4,099,905$1,024,976$11,958,057
29$17,937,085$4,304,900$1,076,225$12,555,959
30$18,833,939$4,520,145$1,130,036$13,183,758
Total$304,000,001$72,960,000$18,240,000$212,800,000
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