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Powerball Annuity Jackpot Analysis for Georgia (Jan. 16, 2019 Drawing)

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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 $112,000,000 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:  Jan. 16, 2019
Jackpot:$112,000,000
Federal Tax:  24%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,685,761$404,583$96,931$1,184,247
2$1,770,049$424,812$101,778$1,243,459
3$1,858,551$446,052$106,867$1,305,632
4$1,951,479$468,355$112,210$1,370,914
5$2,049,053$491,773$117,821$1,439,459
6$2,151,505$516,361$123,712$1,511,432
7$2,259,081$542,179$129,897$1,587,004
8$2,372,035$569,288$136,392$1,666,354
9$2,490,636$597,753$143,212$1,749,672
10$2,615,168$627,640$150,372$1,837,156
11$2,745,927$659,022$157,891$1,929,013
12$2,883,223$691,974$165,785$2,025,464
13$3,027,384$726,572$174,075$2,126,737
14$3,178,753$762,901$182,778$2,233,074
15$3,337,691$801,046$191,917$2,344,728
16$3,504,576$841,098$201,513$2,461,964
17$3,679,804$883,153$211,589$2,585,062
18$3,863,794$927,311$222,168$2,714,316
19$4,056,984$973,676$233,277$2,850,031
20$4,259,833$1,022,360$244,940$2,992,533
21$4,472,825$1,073,478$257,187$3,142,160
22$4,696,466$1,127,152$270,047$3,299,268
23$4,931,290$1,183,510$283,549$3,464,231
24$5,177,854$1,242,685$297,727$3,637,442
25$5,436,747$1,304,819$312,613$3,819,315
26$5,708,584$1,370,060$328,244$4,010,280
27$5,994,013$1,438,563$344,656$4,210,794
28$6,293,714$1,510,491$361,889$4,421,334
29$6,608,400$1,586,016$379,983$4,642,401
30$6,938,820$1,665,317$398,982$4,874,521
Total$112,000,000$26,880,000$6,440,000$78,680,000
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