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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 $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:6.00% (For an out-of-state resident)
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$314,274$3,614,151
2$5,499,794$1,374,949$329,988$3,794,858
3$5,774,784$1,443,696$346,487$3,984,601
4$6,063,523$1,515,881$363,811$4,183,831
5$6,366,699$1,591,675$382,002$4,393,023
6$6,685,034$1,671,259$401,102$4,612,674
7$7,019,286$1,754,822$421,157$4,843,308
8$7,370,251$1,842,563$442,215$5,085,473
9$7,738,763$1,934,691$464,326$5,339,747
10$8,125,701$2,031,425$487,542$5,606,734
11$8,531,986$2,132,997$511,919$5,887,071
12$8,958,586$2,239,646$537,515$6,181,424
13$9,406,515$2,351,629$564,391$6,490,495
14$9,876,841$2,469,210$592,610$6,815,020
15$10,370,683$2,592,671$622,241$7,155,771
16$10,889,217$2,722,304$653,353$7,513,560
17$11,433,677$2,858,419$686,021$7,889,237
18$12,005,361$3,001,340$720,322$8,283,699
19$12,605,629$3,151,407$756,338$8,697,884
20$13,235,911$3,308,978$794,155$9,132,779
21$13,897,706$3,474,427$833,862$9,589,417
22$14,592,592$3,648,148$875,556$10,068,888
23$15,322,221$3,830,555$919,333$10,572,333
24$16,088,332$4,022,083$965,300$11,100,949
25$16,892,749$4,223,187$1,013,565$11,655,997
26$17,737,387$4,434,347$1,064,243$12,238,797
27$18,624,256$4,656,064$1,117,455$12,850,737
28$19,555,469$4,888,867$1,173,328$13,493,273
29$20,533,242$5,133,311$1,231,995$14,167,937
30$21,559,904$5,389,976$1,293,594$14,876,334
Total$348,000,001$87,000,000$20,880,000$240,120,000
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