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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 $314,000,000 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, Apr 30, 2016
Jackpot:$314,000,000
Federal Tax:  25%
State Tax:7.40%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,726,151$1,181,538$349,735$3,194,878
2$4,962,458$1,240,615$367,222$3,354,622
3$5,210,581$1,302,645$385,583$3,522,353
4$5,471,110$1,367,778$404,862$3,698,471
5$5,744,665$1,436,166$425,105$3,883,394
6$6,031,899$1,507,975$446,361$4,077,564
7$6,333,494$1,583,373$468,679$4,281,442
8$6,650,169$1,662,542$492,112$4,495,514
9$6,982,677$1,745,669$516,718$4,720,290
10$7,331,811$1,832,953$542,554$4,956,304
11$7,698,401$1,924,600$569,682$5,204,119
12$8,083,321$2,020,830$598,166$5,464,325
13$8,487,488$2,121,872$628,074$5,737,542
14$8,911,862$2,227,965$659,478$6,024,419
15$9,357,455$2,339,364$692,452$6,325,640
16$9,825,328$2,456,332$727,074$6,641,922
17$10,316,594$2,579,149$763,428$6,974,018
18$10,832,424$2,708,106$801,599$7,322,718
19$11,374,045$2,843,511$841,679$7,688,854
20$11,942,747$2,985,687$883,763$8,073,297
21$12,539,885$3,134,971$927,951$8,476,962
22$13,166,879$3,291,720$974,349$8,900,810
23$13,825,223$3,456,306$1,023,066$9,345,851
24$14,516,484$3,629,121$1,074,220$9,813,143
25$15,242,308$3,810,577$1,127,931$10,303,800
26$16,004,424$4,001,106$1,184,327$10,818,990
27$16,804,645$4,201,161$1,243,544$11,359,940
28$17,644,877$4,411,219$1,305,721$11,927,937
29$18,527,121$4,631,780$1,371,007$12,524,334
30$19,453,477$4,863,369$1,439,557$13,150,550
Total$314,000,001$78,500,000$23,236,000$212,264,000
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