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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 $390,000,000 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:  Sat, Jul 23, 2016
Jackpot:$390,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,870,060$1,467,515$293,503$4,109,042
2$6,163,563$1,540,891$308,178$4,314,494
3$6,471,741$1,617,935$323,587$4,530,219
4$6,795,328$1,698,832$339,766$4,756,730
5$7,135,094$1,783,774$356,755$4,994,566
6$7,491,849$1,872,962$374,592$5,244,294
7$7,866,442$1,966,610$393,322$5,506,509
8$8,259,764$2,064,941$412,988$5,781,835
9$8,672,752$2,168,188$433,638$6,070,926
10$9,106,389$2,276,597$455,319$6,374,472
11$9,561,709$2,390,427$478,085$6,693,196
12$10,039,794$2,509,949$501,990$7,027,856
13$10,541,784$2,635,446$527,089$7,379,249
14$11,068,873$2,767,218$553,444$7,748,211
15$11,622,317$2,905,579$581,116$8,135,622
16$12,203,433$3,050,858$610,172$8,542,403
17$12,813,604$3,203,401$640,680$8,969,523
18$13,454,284$3,363,571$672,714$9,417,999
19$14,126,998$3,531,750$706,350$9,888,899
20$14,833,349$3,708,337$741,667$10,383,344
21$15,575,016$3,893,754$778,751$10,902,511
22$16,353,767$4,088,442$817,688$11,447,637
23$17,171,455$4,292,864$858,573$12,020,019
24$18,030,028$4,507,507$901,501$12,621,019
25$18,931,529$4,732,882$946,576$13,252,070
26$19,878,106$4,969,526$993,905$13,914,674
27$20,872,011$5,218,003$1,043,601$14,610,408
28$21,915,611$5,478,903$1,095,781$15,340,928
29$23,011,392$5,752,848$1,150,570$16,107,974
30$24,161,962$6,040,490$1,208,098$16,913,373
Total$390,000,001$97,500,000$19,500,000$273,000,001
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