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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 $157,000,000 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, Feb 10, 2016
Jackpot:$157,000,000
Federal Tax:  25%
State Tax:5.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,363,075$590,769$118,154$1,654,153
2$2,481,229$620,307$124,061$1,736,860
3$2,605,290$651,323$130,265$1,823,703
4$2,735,555$683,889$136,778$1,914,889
5$2,872,333$718,083$143,617$2,010,633
6$3,015,949$753,987$150,797$2,111,165
7$3,166,747$791,687$158,337$2,216,723
8$3,325,084$831,271$166,254$2,327,559
9$3,491,339$872,835$174,567$2,443,937
10$3,665,905$916,476$183,295$2,566,134
11$3,849,201$962,300$192,460$2,694,440
12$4,041,661$1,010,415$202,083$2,829,163
13$4,243,744$1,060,936$212,187$2,970,621
14$4,455,931$1,113,983$222,797$3,119,152
15$4,678,727$1,169,682$233,936$3,275,109
16$4,912,664$1,228,166$245,633$3,438,865
17$5,158,297$1,289,574$257,915$3,610,808
18$5,416,212$1,354,053$270,811$3,791,348
19$5,687,022$1,421,756$284,351$3,980,916
20$5,971,374$1,492,843$298,569$4,179,962
21$6,269,942$1,567,486$313,497$4,388,960
22$6,583,439$1,645,860$329,172$4,608,408
23$6,912,611$1,728,153$345,631$4,838,828
24$7,258,242$1,814,560$362,912$5,080,769
25$7,621,154$1,905,288$381,058$5,334,808
26$8,002,212$2,000,553$400,111$5,601,548
27$8,402,322$2,100,581$420,116$5,881,626
28$8,822,438$2,205,610$441,122$6,175,707
29$9,263,560$2,315,890$463,178$6,484,492
30$9,726,738$2,431,685$486,337$6,808,717
Total$157,000,000$39,250,000$7,850,000$109,900,000
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