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Powerball Annuity Jackpot Analysis for Idaho (Oct. 27, 2018 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 $687,800,000 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:  Oct. 27, 2018
Jackpot:$687,800,000
Federal Tax:  24%
State Tax:6.93%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,352,377$2,484,570$716,902$7,150,904
2$10,869,996$2,608,799$752,747$7,508,450
3$11,413,496$2,739,239$790,385$7,883,872
4$11,984,171$2,876,201$829,904$8,278,066
5$12,583,379$3,020,011$871,399$8,691,969
6$13,212,548$3,171,011$914,969$9,126,567
7$13,873,176$3,329,562$960,717$9,582,896
8$14,566,834$3,496,040$1,008,753$10,062,041
9$15,295,176$3,670,842$1,059,191$10,565,143
10$16,059,935$3,854,384$1,112,150$11,093,400
11$16,862,932$4,047,104$1,167,758$11,648,070
12$17,706,078$4,249,459$1,226,146$12,230,473
13$18,591,382$4,461,932$1,287,453$12,841,997
14$19,520,951$4,685,028$1,351,826$13,484,097
15$20,496,998$4,919,280$1,419,417$14,158,302
16$21,521,849$5,165,244$1,490,388$14,866,217
17$22,597,941$5,423,506$1,564,907$15,609,528
18$23,727,838$5,694,681$1,643,153$16,390,004
19$24,914,230$5,979,415$1,725,310$17,209,504
20$26,159,941$6,278,386$1,811,576$18,069,979
21$27,467,938$6,592,305$1,902,155$18,973,478
22$28,841,335$6,921,920$1,997,262$19,922,152
23$30,283,402$7,268,016$2,097,126$20,918,260
24$31,797,572$7,631,417$2,201,982$21,964,173
25$33,387,450$8,012,988$2,312,081$23,062,381
26$35,056,823$8,413,638$2,427,685$24,215,501
27$36,809,665$8,834,319$2,549,069$25,426,276
28$38,650,147$9,276,035$2,676,523$26,697,589
29$40,582,655$9,739,837$2,810,349$28,032,469
30$42,611,788$10,226,829$2,950,866$29,434,092
Total$687,800,001$165,072,000$47,630,150$475,097,851
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