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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:5.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$46,735$570,976
2$853,416$204,820$49,071$599,525
3$896,087$215,061$51,525$629,501
4$940,892$225,814$54,101$660,976
5$987,936$237,105$56,806$694,025
6$1,037,333$248,960$59,647$728,726
7$1,089,200$261,408$62,629$765,163
8$1,143,660$274,478$65,760$803,421
9$1,200,843$288,202$69,048$843,592
10$1,260,885$302,612$72,501$885,771
11$1,323,929$317,743$76,126$930,060
12$1,390,125$333,630$79,932$976,563
13$1,459,632$350,312$83,929$1,025,391
14$1,532,613$367,827$88,125$1,076,661
15$1,609,244$386,219$92,532$1,130,494
16$1,689,706$405,529$97,158$1,187,019
17$1,774,191$425,806$102,016$1,246,369
18$1,862,901$447,096$107,117$1,308,688
19$1,956,046$469,451$112,473$1,374,122
20$2,053,848$492,924$118,096$1,442,828
21$2,156,541$517,570$124,001$1,514,970
22$2,264,368$543,448$130,201$1,590,718
23$2,377,586$570,621$136,711$1,670,254
24$2,496,465$599,152$143,547$1,753,767
25$2,621,289$629,109$150,724$1,841,455
26$2,752,353$660,565$158,260$1,933,528
27$2,889,971$693,593$166,173$2,030,204
28$3,034,469$728,273$174,482$2,131,715
29$3,186,193$764,686$183,206$2,238,300
30$3,345,502$802,921$192,366$2,350,215
Total$54,000,000$12,960,000$3,105,000$37,935,000
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