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Powerball Annuity Jackpot Analysis for Georgia (Dec. 15, 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 $246,000,000 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:  Dec. 15, 2018
Jackpot:$246,000,000
Federal Tax:  24%
State Tax:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,702,653$888,637$212,903$2,601,114
2$3,887,786$933,069$223,548$2,731,169
3$4,082,175$979,722$234,725$2,867,728
4$4,286,284$1,028,708$246,461$3,011,114
5$4,500,598$1,080,143$258,784$3,161,670
6$4,725,628$1,134,151$271,724$3,319,754
7$4,961,909$1,190,858$285,310$3,485,741
8$5,210,005$1,250,401$299,575$3,660,028
9$5,470,505$1,312,921$314,554$3,843,030
10$5,744,030$1,378,567$330,282$4,035,181
11$6,031,232$1,447,496$346,796$4,236,940
12$6,332,793$1,519,870$364,136$4,448,787
13$6,649,433$1,595,864$382,342$4,671,227
14$6,981,905$1,675,657$401,460$4,904,788
15$7,331,000$1,759,440$421,532$5,150,027
16$7,697,550$1,847,412$442,609$5,407,529
17$8,082,427$1,939,783$464,740$5,677,905
18$8,486,549$2,036,772$487,977$5,961,800
19$8,910,876$2,138,610$512,375$6,259,890
20$9,356,420$2,245,541$537,994$6,572,885
21$9,824,241$2,357,818$564,894$6,901,529
22$10,315,453$2,475,709$593,139$7,246,606
23$10,831,226$2,599,494$622,795$7,608,936
24$11,372,787$2,729,469$653,935$7,989,383
25$11,941,426$2,865,942$686,632$8,388,852
26$12,538,497$3,009,239$720,964$8,808,294
27$13,165,422$3,159,701$757,012$9,248,709
28$13,823,693$3,317,686$794,862$9,711,145
29$14,514,878$3,483,571$834,605$10,196,702
30$15,240,622$3,657,749$876,336$10,706,537
Total$246,000,000$59,040,000$14,145,000$172,815,000
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