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Powerball Annuity Jackpot Analysis for Georgia

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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 $80,000,000 would be for a resident of Georgia, 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:

Georgia

Drawing Date:  Wed, May 25, 2016
Jackpot:$80,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,204,115$301,029$72,247$830,839
2$1,264,321$316,080$75,859$872,381
3$1,327,537$331,884$79,652$916,000
4$1,393,913$348,478$83,635$961,800
5$1,463,609$365,902$87,817$1,009,890
6$1,536,790$384,197$92,207$1,060,385
7$1,613,629$403,407$96,818$1,113,404
8$1,694,310$423,578$101,659$1,169,074
9$1,779,026$444,757$106,742$1,227,528
10$1,867,977$466,994$112,079$1,288,904
11$1,961,376$490,344$117,683$1,353,350
12$2,059,445$514,861$123,567$1,421,017
13$2,162,417$540,604$129,745$1,492,068
14$2,270,538$567,635$136,232$1,566,671
15$2,384,065$596,016$143,044$1,645,005
16$2,503,268$625,817$150,196$1,727,255
17$2,628,432$657,108$157,706$1,813,618
18$2,759,853$689,963$165,591$1,904,299
19$2,897,846$724,461$173,871$1,999,514
20$3,042,738$760,685$182,564$2,099,489
21$3,194,875$798,719$191,693$2,204,464
22$3,354,619$838,655$201,277$2,314,687
23$3,522,350$880,587$211,341$2,430,421
24$3,698,467$924,617$221,908$2,551,942
25$3,883,391$970,848$233,003$2,679,539
26$4,077,560$1,019,390$244,654$2,813,517
27$4,281,438$1,070,360$256,886$2,954,192
28$4,495,510$1,123,878$269,731$3,101,902
29$4,720,286$1,180,071$283,217$3,256,997
30$4,956,300$1,239,075$297,378$3,419,847
Total$80,000,000$20,000,000$4,800,000$55,200,000
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