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Powerball Annuity Jackpot Analysis for Idaho (Jul. 18, 2020 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 $97,000,000 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:  Jul. 18, 2020
Jackpot:$97,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,459,989$350,397$101,104$1,008,488
2$1,532,989$367,917$106,159$1,058,912
3$1,609,638$386,313$111,467$1,111,858
4$1,690,120$405,629$117,041$1,167,450
5$1,774,626$425,910$122,893$1,225,823
6$1,863,357$447,206$129,037$1,287,114
7$1,956,525$469,566$135,489$1,351,470
8$2,054,351$493,044$142,264$1,419,043
9$2,157,069$517,697$149,377$1,489,995
10$2,264,922$543,581$156,846$1,564,495
11$2,378,169$570,760$164,688$1,642,720
12$2,497,077$599,298$172,923$1,724,856
13$2,621,931$629,263$181,569$1,811,099
14$2,753,027$660,727$190,647$1,901,654
15$2,890,679$693,763$200,180$1,996,736
16$3,035,213$728,451$210,188$2,096,573
17$3,186,973$764,874$220,698$2,201,402
18$3,346,322$803,117$231,733$2,311,472
19$3,513,638$843,273$243,319$2,427,046
20$3,689,320$885,437$255,485$2,548,398
21$3,873,786$929,709$268,260$2,675,818
22$4,067,475$976,194$281,673$2,809,609
23$4,270,849$1,025,004$295,756$2,950,089
24$4,484,391$1,076,254$310,544$3,097,593
25$4,708,611$1,130,067$326,071$3,252,473
26$4,944,042$1,186,570$342,375$3,415,097
27$5,191,244$1,245,899$359,494$3,585,852
28$5,450,806$1,308,193$377,468$3,765,144
29$5,723,346$1,373,603$396,342$3,953,401
30$6,009,514$1,442,283$416,159$4,151,071
Total$97,000,000$23,280,000$6,717,250$67,002,750
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