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Powerball Annuity Jackpot Analysis for Kansas

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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 $100,000,000 would be for a resident of Kansas, 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:

Kansas

Drawing Date:  Wed, Jun 1, 2016
Jackpot:$100,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,505,144$376,286$75,257$1,053,600
2$1,580,401$395,100$79,020$1,106,280
3$1,659,421$414,855$82,971$1,161,594
4$1,742,392$435,598$87,120$1,219,674
5$1,829,511$457,378$91,476$1,280,658
6$1,920,987$480,247$96,049$1,344,691
7$2,017,036$504,259$100,852$1,411,925
8$2,117,888$529,472$105,894$1,482,522
9$2,223,783$555,946$111,189$1,556,648
10$2,334,972$583,743$116,749$1,634,480
11$2,451,720$612,930$122,586$1,716,204
12$2,574,306$643,577$128,715$1,802,014
13$2,703,022$675,755$135,151$1,892,115
14$2,838,173$709,543$141,909$1,986,721
15$2,980,081$745,020$149,004$2,086,057
16$3,129,085$782,271$156,454$2,190,360
17$3,285,540$821,385$164,277$2,299,878
18$3,449,817$862,454$172,491$2,414,872
19$3,622,307$905,577$181,115$2,535,615
20$3,803,423$950,856$190,171$2,662,396
21$3,993,594$998,398$199,680$2,795,516
22$4,193,274$1,048,318$209,664$2,935,291
23$4,402,937$1,100,734$220,147$3,082,056
24$4,623,084$1,155,771$231,154$3,236,159
25$4,854,238$1,213,560$242,712$3,397,967
26$5,096,950$1,274,238$254,848$3,567,865
27$5,351,798$1,337,949$267,590$3,746,258
28$5,619,388$1,404,847$280,969$3,933,571
29$5,900,357$1,475,089$295,018$4,130,250
30$6,195,375$1,548,844$309,769$4,336,762
Total$100,000,000$25,000,000$5,000,000$70,000,000
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