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

Powerball Annuity Jackpot Analysis for Florida

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 $67,000,000 would be for a resident of Florida, 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:

Florida

Drawing Date:  Wed, Dec 7, 2016
Jackpot:$67,000,000
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$1,008,446$252,112$0$756,335
2$1,058,868$264,717$0$794,151
3$1,111,812$277,953$0$833,859
4$1,167,403$291,851$0$875,552
5$1,225,773$306,443$0$919,329
6$1,287,061$321,765$0$965,296
7$1,351,414$337,854$0$1,013,561
8$1,418,985$354,746$0$1,064,239
9$1,489,934$372,484$0$1,117,451
10$1,564,431$391,108$0$1,173,323
11$1,642,653$410,663$0$1,231,989
12$1,724,785$431,196$0$1,293,589
13$1,811,024$452,756$0$1,358,268
14$1,901,576$475,394$0$1,426,182
15$1,996,654$499,164$0$1,497,491
16$2,096,487$524,122$0$1,572,365
17$2,201,311$550,328$0$1,650,984
18$2,311,377$577,844$0$1,733,533
19$2,426,946$606,736$0$1,820,209
20$2,548,293$637,073$0$1,911,220
21$2,675,708$668,927$0$2,006,781
22$2,809,493$702,373$0$2,107,120
23$2,949,968$737,492$0$2,212,476
24$3,097,466$774,367$0$2,323,100
25$3,252,340$813,085$0$2,439,255
26$3,414,957$853,739$0$2,561,217
27$3,585,704$896,426$0$2,689,278
28$3,764,990$941,247$0$2,823,742
29$3,953,239$988,310$0$2,964,929
30$4,150,901$1,037,725$0$3,113,176
Total$67,000,000$16,750,000$0$50,250,000
<( 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.