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Powerball Annuity Jackpot Analysis for Idaho

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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 $176,000,000 would be for a resident of Idaho, 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:

Idaho

Drawing Date:  Sat, Feb 13, 2016
Jackpot:$176,000,000
Federal Tax:  25%
State Tax:7.40%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,649,053$662,263$196,030$1,790,760
2$2,781,505$695,376$205,831$1,880,298
3$2,920,580$730,145$216,123$1,974,312
4$3,066,610$766,652$226,929$2,073,028
5$3,219,940$804,985$238,276$2,176,679
6$3,380,937$845,234$250,189$2,285,513
7$3,549,984$887,496$262,699$2,399,789
8$3,727,483$931,871$275,834$2,519,779
9$3,913,857$978,464$289,625$2,645,767
10$4,109,550$1,027,388$304,107$2,778,056
11$4,315,028$1,078,757$319,312$2,916,959
12$4,530,779$1,132,695$335,278$3,062,807
13$4,757,318$1,189,329$352,042$3,215,947
14$4,995,184$1,248,796$369,644$3,376,744
15$5,244,943$1,311,236$388,126$3,545,581
16$5,507,190$1,376,798$407,532$3,722,861
17$5,782,550$1,445,637$427,909$3,909,003
18$6,071,677$1,517,919$449,304$4,104,454
19$6,375,261$1,593,815$471,769$4,309,676
20$6,694,024$1,673,506$495,358$4,525,160
21$7,028,725$1,757,181$520,126$4,751,418
22$7,380,161$1,845,040$546,132$4,988,989
23$7,749,169$1,937,292$573,439$5,238,439
24$8,136,628$2,034,157$602,110$5,500,360
25$8,543,459$2,135,865$632,216$5,775,378
26$8,970,632$2,242,658$663,827$6,064,147
27$9,419,164$2,354,791$697,018$6,367,355
28$9,890,122$2,472,531$731,869$6,685,722
29$10,384,628$2,596,157$768,462$7,020,009
30$10,903,860$2,725,965$806,886$7,371,009
Total$176,000,000$44,000,000$13,024,000$118,976,000
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