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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 $154,000,000 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, Aug 31, 2016
Jackpot:$154,000,000
Federal Tax:  25%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,317,921$579,480$139,075$1,599,365
2$2,433,817$608,454$146,029$1,679,334
3$2,555,508$638,877$153,330$1,763,300
4$2,683,283$670,821$160,997$1,851,466
5$2,817,447$704,362$169,047$1,944,039
6$2,958,320$739,580$177,499$2,041,241
7$3,106,236$776,559$186,374$2,143,303
8$3,261,548$815,387$195,693$2,250,468
9$3,424,625$856,156$205,478$2,362,991
10$3,595,856$898,964$215,751$2,481,141
11$3,775,649$943,912$226,539$2,605,198
12$3,964,432$991,108$237,866$2,735,458
13$4,162,653$1,040,663$249,759$2,872,231
14$4,370,786$1,092,696$262,247$3,015,842
15$4,589,325$1,147,331$275,360$3,166,634
16$4,818,791$1,204,698$289,127$3,324,966
17$5,059,731$1,264,933$303,584$3,491,214
18$5,312,717$1,328,179$318,763$3,665,775
19$5,578,353$1,394,588$334,701$3,849,064
20$5,857,271$1,464,318$351,436$4,041,517
21$6,150,134$1,537,534$369,008$4,243,593
22$6,457,641$1,614,410$387,458$4,455,772
23$6,780,523$1,695,131$406,831$4,678,561
24$7,119,549$1,779,887$427,173$4,912,489
25$7,475,527$1,868,882$448,532$5,158,114
26$7,849,303$1,962,326$470,958$5,416,019
27$8,241,768$2,060,442$494,506$5,686,820
28$8,653,857$2,163,464$519,231$5,971,161
29$9,086,550$2,271,637$545,193$6,269,719
30$9,540,877$2,385,219$572,453$6,583,205
Total$154,000,000$38,500,000$9,240,000$106,260,000
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