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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 $166,000,000 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, Apr 27, 2019
Jackpot:$166,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,498,538$599,649$0$1,898,889
2$2,623,465$629,632$0$1,993,834
3$2,754,638$661,113$0$2,093,525
4$2,892,370$694,169$0$2,198,201
5$3,036,989$728,877$0$2,308,111
6$3,188,838$765,321$0$2,423,517
7$3,348,280$803,587$0$2,544,693
8$3,515,694$843,767$0$2,671,928
9$3,691,479$885,955$0$2,805,524
10$3,876,053$930,253$0$2,945,800
11$4,069,856$976,765$0$3,093,090
12$4,273,348$1,025,604$0$3,247,745
13$4,487,016$1,076,884$0$3,410,132
14$4,711,367$1,130,728$0$3,580,639
15$4,946,935$1,187,264$0$3,759,670
16$5,194,282$1,246,628$0$3,947,654
17$5,453,996$1,308,959$0$4,145,037
18$5,726,695$1,374,407$0$4,352,288
19$6,013,030$1,443,127$0$4,569,903
20$6,313,682$1,515,284$0$4,798,398
21$6,629,366$1,591,048$0$5,038,318
22$6,960,834$1,670,600$0$5,290,234
23$7,308,876$1,754,130$0$5,554,746
24$7,674,319$1,841,837$0$5,832,483
25$8,058,035$1,933,928$0$6,124,107
26$8,460,937$2,030,625$0$6,430,312
27$8,883,984$2,132,156$0$6,751,828
28$9,328,183$2,238,764$0$7,089,419
29$9,794,592$2,350,702$0$7,443,890
30$10,284,322$2,468,237$0$7,816,085
Total$166,000,000$39,840,000$0$126,160,000
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