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Powerball Annuity Jackpot Analysis for California

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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 $100,000,000 would be for a resident of California, 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:

California

Drawing Date:  Sat, Mar 7, 2015
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,783,010$445,752$0$1,337,257
2$1,854,330$463,583$0$1,390,748
3$1,928,504$482,126$0$1,446,378
4$2,005,644$501,411$0$1,504,233
5$2,085,869$521,467$0$1,564,402
6$2,169,304$542,326$0$1,626,978
7$2,256,076$564,019$0$1,692,057
8$2,346,319$586,580$0$1,759,740
9$2,440,172$610,043$0$1,830,129
10$2,537,779$634,445$0$1,903,334
11$2,639,290$659,823$0$1,979,468
12$2,744,862$686,215$0$2,058,646
13$2,854,656$713,664$0$2,140,992
14$2,968,843$742,211$0$2,226,632
15$3,087,596$771,899$0$2,315,697
16$3,211,100$802,775$0$2,408,325
17$3,339,544$834,886$0$2,504,658
18$3,473,126$868,281$0$2,604,844
19$3,612,051$903,013$0$2,709,038
20$3,756,533$939,133$0$2,817,400
21$3,906,794$976,699$0$2,930,096
22$4,063,066$1,015,767$0$3,047,300
23$4,225,589$1,056,397$0$3,169,192
24$4,394,612$1,098,653$0$3,295,959
25$4,570,397$1,142,599$0$3,427,798
26$4,753,213$1,188,303$0$3,564,909
27$4,943,341$1,235,835$0$3,707,506
28$5,141,075$1,285,269$0$3,855,806
29$5,346,718$1,336,679$0$4,010,038
30$5,560,586$1,390,147$0$4,170,440
Total$100,000,000$25,000,000$0$75,000,000
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