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Powerball Annuity Jackpot Analysis for Idaho (Dec. 15, 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 $246,000,000 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:  Dec. 15, 2018
Jackpot:$246,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,702,653$888,637$256,409$2,557,608
2$3,887,786$933,069$269,229$2,685,488
3$4,082,175$979,722$282,691$2,819,762
4$4,286,284$1,028,708$296,825$2,960,751
5$4,500,598$1,080,143$311,666$3,108,788
6$4,725,628$1,134,151$327,250$3,264,227
7$4,961,909$1,190,858$343,612$3,427,439
8$5,210,005$1,250,401$360,793$3,598,811
9$5,470,505$1,312,921$378,832$3,778,751
10$5,744,030$1,378,567$397,774$3,967,689
11$6,031,232$1,447,496$417,663$4,166,073
12$6,332,793$1,519,870$438,546$4,374,377
13$6,649,433$1,595,864$460,473$4,593,096
14$6,981,905$1,675,657$483,497$4,822,751
15$7,331,000$1,759,440$507,672$5,063,888
16$7,697,550$1,847,412$533,055$5,317,083
17$8,082,427$1,939,783$559,708$5,582,937
18$8,486,549$2,036,772$587,693$5,862,083
19$8,910,876$2,138,610$617,078$6,155,188
20$9,356,420$2,245,541$647,932$6,462,947
21$9,824,241$2,357,818$680,329$6,786,094
22$10,315,453$2,475,709$714,345$7,125,399
23$10,831,226$2,599,494$750,062$7,481,669
24$11,372,787$2,729,469$787,565$7,855,752
25$11,941,426$2,865,942$826,944$8,248,540
26$12,538,497$3,009,239$868,291$8,660,967
27$13,165,422$3,159,701$911,705$9,094,015
28$13,823,693$3,317,686$957,291$9,548,716
29$14,514,878$3,483,571$1,005,155$10,026,152
30$15,240,622$3,657,749$1,055,413$10,527,460
Total$246,000,000$59,040,000$17,035,500$169,924,500
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