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Powerball Annuity Jackpot Analysis for Georgia (Oct. 20, 2018 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 $476,700,000 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:  Oct. 20, 2018
Jackpot:$476,700,000
Federal Tax:  24%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,175,019$1,722,005$412,564$5,040,451
2$7,533,770$1,808,105$433,192$5,292,474
3$7,910,458$1,898,510$454,851$5,557,097
4$8,305,982$1,993,436$477,594$5,834,952
5$8,721,280$2,093,107$501,474$6,126,699
6$9,157,345$2,197,763$526,547$6,433,035
7$9,615,212$2,307,651$552,875$6,754,686
8$10,095,973$2,423,033$580,518$7,092,421
9$10,600,771$2,544,185$609,544$7,447,042
10$11,130,810$2,671,394$640,022$7,819,394
11$11,687,350$2,804,964$672,023$8,210,364
12$12,271,718$2,945,212$705,624$8,620,882
13$12,885,303$3,092,473$740,905$9,051,926
14$13,529,569$3,247,097$777,950$9,504,522
15$14,206,047$3,409,451$816,848$9,979,748
16$14,916,350$3,579,924$857,690$10,478,736
17$15,662,167$3,758,920$900,575$11,002,672
18$16,445,275$3,946,866$945,603$11,552,806
19$17,267,539$4,144,209$992,883$12,130,446
20$18,130,916$4,351,420$1,042,528$12,736,968
21$19,037,462$4,568,991$1,094,654$13,373,817
22$19,989,335$4,797,440$1,149,387$14,042,508
23$20,988,802$5,037,312$1,206,856$14,744,633
24$22,038,241$5,289,178$1,267,199$15,481,865
25$23,140,153$5,553,637$1,330,559$16,255,958
26$24,297,162$5,831,319$1,397,087$17,068,756
27$25,512,020$6,122,885$1,466,941$17,922,194
28$26,787,620$6,429,029$1,540,288$18,818,303
29$28,127,001$6,750,480$1,617,303$19,759,218
30$29,533,352$7,088,004$1,698,168$20,747,180
Total$476,700,001$114,408,000$27,410,250$334,881,751
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