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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 $142,000,000 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, Aug 27, 2016
Jackpot:$142,000,000
Federal Tax:  25%
State Tax:7.40%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,137,304$534,326$158,160$1,444,817
2$2,244,169$561,042$166,069$1,517,058
3$2,356,377$589,094$174,372$1,592,911
4$2,474,196$618,549$183,091$1,672,557
5$2,597,906$649,477$192,245$1,756,184
6$2,727,801$681,950$201,857$1,843,994
7$2,864,192$716,048$211,950$1,936,193
8$3,007,401$751,850$222,548$2,033,003
9$3,157,771$789,443$233,675$2,134,653
10$3,315,660$828,915$245,359$2,241,386
11$3,481,443$870,361$257,627$2,353,455
12$3,655,515$913,879$270,508$2,471,128
13$3,838,291$959,573$284,033$2,594,684
14$4,030,205$1,007,551$298,235$2,724,419
15$4,231,715$1,057,929$313,147$2,860,640
16$4,443,301$1,110,825$328,804$3,003,672
17$4,665,466$1,166,367$345,244$3,153,855
18$4,898,739$1,224,685$362,507$3,311,548
19$5,143,676$1,285,919$380,632$3,477,125
20$5,400,860$1,350,215$399,664$3,650,982
21$5,670,903$1,417,726$419,647$3,833,531
22$5,954,448$1,488,612$440,629$4,025,207
23$6,252,171$1,563,043$462,661$4,226,467
24$6,564,779$1,641,195$485,794$4,437,791
25$6,893,018$1,723,255$510,083$4,659,680
26$7,237,669$1,809,417$535,588$4,892,664
27$7,599,553$1,899,888$562,367$5,137,298
28$7,979,530$1,994,883$590,485$5,394,162
29$8,378,507$2,094,627$620,010$5,663,871
30$8,797,432$2,199,358$651,010$5,947,064
Total$142,000,000$35,500,000$10,508,000$95,992,000
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