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Powerball Annuity Jackpot Analysis for Idaho (Jul. 29, 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 $126,000,000 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. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$131,331$1,309,994
2$1,991,305$477,913$137,898$1,375,494
3$2,090,870$501,809$144,793$1,444,269
4$2,195,414$526,899$152,032$1,516,482
5$2,305,184$553,244$159,634$1,592,306
6$2,420,443$580,906$167,616$1,671,921
7$2,541,466$609,952$175,997$1,755,517
8$2,668,539$640,449$184,796$1,843,293
9$2,801,966$672,472$194,036$1,935,458
10$2,942,064$706,095$203,738$2,032,231
11$3,089,167$741,400$213,925$2,133,842
12$3,243,626$778,470$224,621$2,240,535
13$3,405,807$817,394$235,852$2,352,561
14$3,576,097$858,263$247,645$2,470,189
15$3,754,902$901,177$260,027$2,593,699
16$3,942,647$946,235$273,028$2,723,384
17$4,139,780$993,547$286,680$2,859,553
18$4,346,769$1,043,225$301,014$3,002,531
19$4,564,107$1,095,386$316,064$3,152,657
20$4,792,313$1,150,155$331,868$3,310,290
21$5,031,928$1,207,663$348,461$3,475,804
22$5,283,525$1,268,046$365,884$3,649,595
23$5,547,701$1,331,448$384,178$3,832,074
24$5,825,086$1,398,021$403,387$4,023,678
25$6,116,340$1,467,922$423,557$4,224,862
26$6,422,157$1,541,318$444,734$4,436,105
27$6,743,265$1,618,384$466,971$4,657,910
28$7,080,428$1,699,303$490,320$4,890,806
29$7,434,450$1,784,268$514,836$5,135,346
30$7,806,172$1,873,481$540,577$5,392,113
Total$126,000,000$30,240,000$8,725,500$87,034,500
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