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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 $136,000,000 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:  Sat, Apr 20, 2019
Jackpot:$136,000,000
Federal Tax:  24%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,046,995$491,279$117,702$1,438,014
2$2,149,345$515,843$123,587$1,509,915
3$2,256,812$541,635$129,767$1,585,411
4$2,369,653$568,717$136,255$1,664,681
5$2,488,135$597,152$143,068$1,747,915
6$2,612,542$627,010$150,221$1,835,311
7$2,743,169$658,361$157,732$1,927,076
8$2,880,328$691,279$165,619$2,023,430
9$3,024,344$725,843$173,900$2,124,602
10$3,175,561$762,135$182,595$2,230,832
11$3,334,339$800,241$191,725$2,342,373
12$3,501,056$840,254$201,311$2,459,492
13$3,676,109$882,266$211,376$2,582,467
14$3,859,915$926,380$221,945$2,711,590
15$4,052,910$972,699$233,042$2,847,170
16$4,255,556$1,021,333$244,694$2,989,528
17$4,468,334$1,072,400$256,929$3,139,004
18$4,691,750$1,126,020$269,776$3,295,955
19$4,926,338$1,182,321$283,264$3,460,752
20$5,172,655$1,241,437$297,428$3,633,790
21$5,431,288$1,303,509$312,299$3,815,480
22$5,702,852$1,368,684$327,914$4,006,254
23$5,987,995$1,437,119$344,310$4,206,566
24$6,287,394$1,508,975$361,525$4,416,894
25$6,601,764$1,584,423$379,601$4,637,739
26$6,931,852$1,663,645$398,582$4,869,626
27$7,278,445$1,746,827$418,511$5,113,108
28$7,642,367$1,834,168$439,436$5,368,763
29$8,024,485$1,925,876$461,408$5,637,201
30$8,425,710$2,022,170$484,478$5,919,061
Total$136,000,000$32,640,000$7,820,000$95,540,000
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