USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for California

Media: You may freely use any information on this page, but you must credit www.usamega.com.

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 $50,000,000 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, Sep 24, 2016
Jackpot:$50,000,000
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$752,572$188,143$0$564,429
2$790,200$197,550$0$592,650
3$829,710$207,428$0$622,283
4$871,196$217,799$0$653,397
5$914,756$228,689$0$686,067
6$960,493$240,123$0$720,370
7$1,008,518$252,130$0$756,389
8$1,058,944$264,736$0$794,208
9$1,111,891$277,973$0$833,918
10$1,167,486$291,871$0$875,614
11$1,225,860$306,465$0$919,395
12$1,287,153$321,788$0$965,365
13$1,351,511$337,878$0$1,013,633
14$1,419,086$354,772$0$1,064,315
15$1,490,041$372,510$0$1,117,530
16$1,564,543$391,136$0$1,173,407
17$1,642,770$410,692$0$1,232,077
18$1,724,908$431,227$0$1,293,681
19$1,811,154$452,788$0$1,358,365
20$1,901,711$475,428$0$1,426,284
21$1,996,797$499,199$0$1,497,598
22$2,096,637$524,159$0$1,572,478
23$2,201,469$550,367$0$1,651,101
24$2,311,542$577,886$0$1,733,657
25$2,427,119$606,780$0$1,820,339
26$2,548,475$637,119$0$1,911,356
27$2,675,899$668,975$0$2,006,924
28$2,809,694$702,423$0$2,107,270
29$2,950,178$737,545$0$2,212,634
30$3,097,687$774,422$0$2,323,266
Total$50,000,000$12,500,000$0$37,500,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2016 Speednet Group.  All rights reserved.