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Powerball Annuity Jackpot Analysis for Georgia (Apr. 3, 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 $54,000,000 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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:6.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$48,767$568,944
2$853,416$204,820$51,205$597,391
3$896,087$215,061$53,765$627,261
4$940,892$225,814$56,453$658,624
5$987,936$237,105$59,276$691,555
6$1,037,333$248,960$62,240$726,133
7$1,089,200$261,408$65,352$762,440
8$1,143,660$274,478$68,620$800,562
9$1,200,843$288,202$72,051$840,590
10$1,260,885$302,612$75,653$882,619
11$1,323,929$317,743$79,436$926,750
12$1,390,125$333,630$83,408$973,088
13$1,459,632$350,312$87,578$1,021,742
14$1,532,613$367,827$91,957$1,072,829
15$1,609,244$386,219$96,555$1,126,471
16$1,689,706$405,529$101,382$1,182,794
17$1,774,191$425,806$106,451$1,241,934
18$1,862,901$447,096$111,774$1,304,031
19$1,956,046$469,451$117,363$1,369,232
20$2,053,848$492,924$123,231$1,437,694
21$2,156,541$517,570$129,392$1,509,578
22$2,264,368$543,448$135,862$1,585,057
23$2,377,586$570,621$142,655$1,664,310
24$2,496,465$599,152$149,788$1,747,526
25$2,621,289$629,109$157,277$1,834,902
26$2,752,353$660,565$165,141$1,926,647
27$2,889,971$693,593$173,398$2,022,980
28$3,034,469$728,273$182,068$2,124,128
29$3,186,193$764,686$191,172$2,230,335
30$3,345,502$802,921$200,730$2,341,852
Total$54,000,000$12,960,000$3,240,000$37,800,000
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